M&T Bank, the sixth-largest commercial bank in North America, has partnered with Australian FinTech startup Rich Data Co (RDC) to implement an AI-powered decisioning platform. This marks RDC’s first major client in the US market.
The platform is designed to equip M&T with improved risk management and lending strategies by enabling the detection of early warning signs in loan performance. Utilizing explainable AI technology, the solution provides insights into a borrower’s cash flow health, creditworthiness, and potential for further lending opportunities throughout their banking relationship.
“This partnership will drive additional automation and provide intelligent, actionable insights for our commercial and business banking clients,” said Nicholas Batyko, Engineering Director at M&T Bank. He further highlighted the role of nCino, a reseller of RDC’s solution with a Continuous Credit Monitoring offering.
“We are further enhancing our ability to manage credit risk through the automation of early warning indicators,” added Sarah Hudak, Director of Credit Product Delivery at M&T. “This scalable capability will provide valuable insights for our employees, allowing them to deliver more timely and tailored banking experiences.”
RDC previously partnered with Australian banking giant Westpac, which has utilized the platform throughout its domestic business lending operations. With a successful entry into the US market, RDC co-founder and CEO Ada Guan expressed the company’s commitment to “continuing our expansion and bringing our innovative solutions to more financial institutions.”
