29 May 2024

Australian Start Up, Rich Data Co, expands into US Market with M&T Bank Deal.

Written By FinTech Alliance in FinTech

Australian Start Up, Rich Data Co, expands into US Market with M&T Bank Deal.
  • Australian start-up Rich Data Co (RDC) has extended its AI-powered decisioning platform to M&T Bank, marking its first major client in the United States.
  • M&T Bank will utilize RDC's platform to improve its risk management and lending strategies through early warning sign detection and explainable AI technology, providing comprehensive insights into cash flow health and credit risk.
  • The partnership was facilitated by RDC reseller nCino's Continuous Credit Monitoring solution, which aims to drive automation and provide intelligent, actionable insights for M&T Bank's commercial and business banking clients.

M&T, the sixth-largest commercial bank in North America, will use the platform for enhanced risk management and lending strategies, leveraging explainable AI for cash flow and credit risk insights. “This scalable capability will provide insights to our employees to drive even more timely and tailored banking experiences” adds Sarah Hudak, director of credit product delivery at M&T.  RDC's platform, previously used by Westpac, marks its entry into the North American market, with plans for further expansion.

Read more here

Up Next ...
21 November 2024

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

21 November 2024

Machine Learning: Revolutionizing Fraud Detection in Banking

These technologies enable financial institutions to analyze vast amounts of transaction data in real-time, identify suspicious activities, and minimize false positives...

21 November 2024

MeaWallet Partners with Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs

The collaboration is set to strengthen digital wallet payments and secure card data access capabilities for fintechs

20 November 2024

Atome Financial Secures $200M Credit Facility to Drive Growth

Atome plans to use the funds to strengthen its technological capabilities and grow its market presence, particularly among underserved, young consumers...

More in FinTech

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

21 November 2024

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

Machine Learning: Revolutionizing Fraud Detection in Banking

21 November 2024

These technologies enable financial institutions to analyze vast amounts of transaction data in real-time, identify suspicious activities, and minimize false positives...

MeaWallet Partners with Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs

21 November 2024

The collaboration is set to strengthen digital wallet payments and secure card data access capabilities for fintechs

Atome Financial Secures $200M Credit Facility to Drive Growth

20 November 2024

Atome plans to use the funds to strengthen its technological capabilities and grow its market presence, particularly among underserved, young consumers...

White Papers FinTech

Open Finance in Review: Looking back at 2023

28 November 2023

In this insightful report, OzoneAPI delve into the pivotal developments that have shaped the landsca...

White Papers FinTech

Fintech 2030: The Industry View

02 October 2023

Key findings from the report:Embedded finance is expected to dominate the industry in 10 yearsThere...

White Papers FinTech

Pulse of Fintech H2 2022 report

27 July 2023

UK FinTech investment falls 56% to £14.42bn in 2022After an incredibly strong 2021, with total FinTe...

White Papers FinTech

The Rise and Impact of Fintech in Latin America

29 June 2023

Fintech also provides tools to help manage these risks. Financial authorities and their supervisees...

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

04 December 2024 - 05 December 2024

12:00 AM - 12:00 AM

ExCel London, Western Gateway, Royal Victoria Dock, London, London, E16 1XL

Free
Finnovate Europe

Finnovate Europe

25 February 2025

12:00 AM - 12:00 AM

InterContinental London - The O2, 1 Waterview Drive, London, Greenwich, SE10 0TW

£1,699.00