Rabobank Australia and New Zealand (RANZ) has chosen nCino’s Automated Spreading solution, powered by nCino IQ (nIQ), to provide a better banking experience. 

The partnership is said to benefit the bank’s Australian and New Zealand employees and customers, representing a multi-currency, cross-country commitment to deliver a better banking experience.

Rabobank, a food and agribusiness bank, claims to be one of Australia and New Zealand’s largest agricultural lenders and a significant supplier of business and corporate banking services to the country’s food and agribusiness sector.

By leveraging nCino’s automated spreading solution, which is backed by nCino IQ (nIQ), RANZ intends to cut the time it takes to spread and process documents by a greater margin.

It is expected to enable profitable portfolio growth by enhancing the efficiency and accuracy of credit decisions.

The institution also intends to automate low-complexity, high-volume tasks by implementing such solutions, giving their staff more time to concentrate on improving customer relationships.

RANZ chief operating officer Alexa Glynn said: “By partnering with nCino, we will optimise our financial spreading analysis. This relationship will provide an excellent opportunity for RANZ to support our growing customer base and modernise our systems.

“We’re delighted that nCino’s technology will enable us to offer our customers and employees a better banking experience.”

RANZ anticipates obtaining a digital solution that, by utilising machine learning and optical character recognition, intelligently transforms the process of disseminating financials.

nCino managing director of Australia and New Zealand Mark Bernhardi said: “Rabobank’s customers value their relationship managers’ close connection to their business.

“To effectively build on this connection, Rabobank Australia and New Zealand procured a platform that could leverage artificial intelligence (AI), machine learning and analytics to increase data automation and generate meaningful insights.

“We’re excited to partner with RANZ to help them achieve their goals and enhance their services through digital transformation. This partnership will enhance RANZ’s commitment to creating value for their customers, employees and the communities in which they do business.”