Rich Data Co (RDC), a company in artificial intelligence (AI) decisioning for business and commercial lenders, has signed its first major U.S. deal with M&T Bank. The partnership marks RDC’s first U.S. banking customer and sees M&T join a growing number of lenders globally adopting AI for improved decision-making and enhanced customer experiences.
RDC’s explainable AI solution will provide M&T with insights into cash flow health, credit risk and lending opportunities at both the customer and portfolio levels. This technology will enable M&T to detect more early warning signs and have access to additional insights when making decisions throughout the customer relationship lifecycle.
The deal is facilitated through RDC’s collaboration with its reseller partner, nCino. nCino’s Continuous Credit Monitoring solution leverages RDC’s AI decisioning platform.
“From our humble beginnings as an Australian startup to now partnering with global institutions, we’re excited to establish our presence in the North American market with M&T, an innovative and forward-thinking leader,” Ada Guan, CEO and co-founder of RDC, said. “This partnership demonstrates the transformative power of AI in business and commercial lending and the global trend of AI shaping the financial services sector. We’re focused on continuing our expansion and bringing our innovative solutions to more financial institutions in partnership with nCino.”
