Wells Fargo Broaden Application of the nCino Bank Operating System

Wells Fargo & Company will widen the use of the nCino Bank Operating System to boost digital transformation in its Consumer and Small Business Banking division to offer a pioneering technology experience, according to nCino, Inc., an innovator in cloud banking and digital transformation solutions in the global financial services industry. Wells Fargo had already chosen nCino as the technology underpinning for modernizing its commercial lending operations.

Derek Ellington, Head of Small Business Banking at Wells Fargo, commented, “The pandemic has certainly changed the way our customers want to work with us. Providing more access to digital banking options that are fast, safe and convenient is important and has spurred additional investments in technology. Collaborating with nCino is expected to provide our customers with a more streamlined lending experience, reducing the sometimes tedious back and forth that sometimes occurs when applying for and obtaining a loan, and it provides our employees a single view of each customer, making the end-to-end lending experience quicker and more efficient.”

A key component of Wells Fargo’s digital transformation strategy has been identifying an adaptable, cloud-native platform that could expand as per business requirements. nCino’s Small Business Banking Solution offers a single interface to expedite the complete lending process for generation, screening, and asset management, as small business people constantly desire faster access to financing and digital experiences without having to visit an office.

Pierre Naudé, CEO of nCino, stated, “We’re incredibly proud to expand our relationship with Wells Fargo two quarters after they first selected nCino to transform their commercial lending operations. Wells Fargo clearly sees the value of the cloud as an enabler in their continued evolution and transformation, and we are confident our best-in-class cloud platform will help drive additional efficiencies and unlock even more value for their employees and small business clients.”

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LGT Selected NICE Actimize for AML Solution

NICE Actimize, a subsidiary of NICE Business, has declared its innovative Markets Surveillance and Anti-Money Laundering solutions, along with its additional compliance offerings, have been chosen by LGT, a leading family-owned private banking asset management group.

Once available, NICE Actimize financial crime solutions will give wealth management, retail, and commercial sector coverage, strengthening LGT’s future vision for its financial crime strategy.

Erik Zortea, Head of Group Financial Crime Compliance, LGT, stated, “It was important for LGT to select a trusted solutions provider with which to partner and enhance our approach to managing financial crime. Achieving successful business outcomes for our growing global operation requires out-of-the-box coverage to meet our immediate regulatory requirements, increase efficiency as well as improve analytical capabilities in order to stay on top of new and emerging scenarios. NICE Actimize meets these requirements for a holistic approach to our global business challenges.

LGT will employ enhanced Anti-Money Laundering (AML), Suspicious Activity Monitoring (SAM), KYC/CDD, and Watch List Filtering, and take advantage of the SURVEIL-X Market Surveillance solution, which focuses on regulatory obligations among various asset classes involving foreign exchange, fixed income, futures, and swaps. SURVEIL-X Studio is an analytics self-development tool that develops, analyzes, and utilizes custom analytics risk, and detection models.

Craig Costigan, CEO, NICE Actimize, commented, “Today, financial institutions face a multi-faceted dilemma as they balance business outcomes with expectations for a seamless customer experience against the pressure to build better protections against financial crime. NICE Actimize solutions fully support an integrated, data-driven, and analytical approach, which addresses these challenges while setting a path forward for LGT to achieve strong business outcomes and future growth.

Read: AML Technology and Its Capabilities

MetaBank Invests in Advantage Payment Services

MetaBank, N.A. has made a strategic investment in Advantage Payment Services (APS), the pioneer in financial data management for leading FinTech payments firms. This renowned issuer is investing in the next generation of APS solutions, which will raise the bar for regulatory-compliant dispute case management in the industry. APS is the leader in enterprise dispute management for the largest payment processing issuing banks and fintech. Its consultative approach assists clients in navigating a complex technical and regulatory landscape, while its agile development method supports greater speed to market.

The APS Dispute Advantage platform is a robust, configurable, and regulatory-compliant workflow solution. Artificial Intelligence and Machine Learning are used in the next generation of automation to boost efficiency and enable real-time decision-making.

Dave Campbell, President at APS, stated, “MetaBank is a leader in payments and fintech because it has continually embraced the changing competitive and regulatory landscape. We’ve spent two decades developing and perfecting the technology that gives banks the critical visibility and control over any program they authorize. We’re excited to further our relationship with this industry leader to deliver the best possible solutions for the industry at large.

Anthony Sharett, MetaBank President, commented, “APS integrates key identity verification, compliance and reporting capabilities seamlessly into our existing business processes. Creating this collaborative environment allows us to further their ability to very quickly develop and deploy technology that addresses the evolving compliance and reporting demands in payments and fintech.

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