This partnership will benefit the bank's Australian and New Zealand employees and customers, representing a multi-currency, cross-country commitment to provide a better banking experience. "By partnering with nCino, we will optimise our financial spreading analysis," said Alexa Glynn, Chief Operating Officer at RANZ. "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." The world's leading specialist food and agribusiness bank, Rabobank is one of Australia and New Zealand's largest agricultural lenders and a major provider of business and corporate banking services to the country's food and agribusiness sector. By adopting the nCino Bank Operating System, RANZ gains a digital solution that intelligently transforms the process of spreading financials by leveraging machine learning and optical character recognition (OCR).

Using artificial intelligence and automation to digitize and upgrade banking processes is the new imperative for banks and credit unions. They have come to realize that becoming truly digital institutions requires much more than offering a mobile banking app, or turning paper files into digital files. Digital transformation requires a much more comprehensive approach. One of the most challenging areas is in lending, the bread and butter of banking. Where loan originations used to take place in a face-to-face meeting between a banker and client -- taking upwards of two to three hours (depending on the type of loan) -- they are now taking place online and on mobile phones.