Lumos Technologies, a leader in small business data analytics, has partnered with nCino, a global cloud banking innovator, to integrate a predictive credit scoring model into the nCino platform. This integration will enable financial institutions to improve small business loan approvals while managing risk more effectively.
WILMINGTON, N.C., Oct. 9, 2024 /PRNewswire-PRWeb/ -- Lumos Technologies, Inc. ("Lumos"), an industry-disrupting small business data analytics company, is excited to announce a partnership with nCino (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry. The partnership will see the two companies integrate a predictive credit scoring model into the nCino platform that will automate and accelerate financial institutions' (FIs) ability to quantify small business credit risk.
"By integrating our flagship predictive model within the nCino platform, small business lenders will be able to approve more loans while better managing their risk profile," said Brett Caines, co-founder and CEO of Lumos. "We have performed rigorous validation on this model to ensure accurate and stable performance and couldn't be more excited about extending its reach and impact with nCino."
"We are excited to have Lumos in our partner ecosystem to bring advanced predictive credit scoring capabilities to our customers that lend to small businesses", said Garrett Adams, General Manager of Small Business Banking at nCino. "This partnership can help financial institutions improve lending efficiency and mitigate risk for an improved experience for both bankers and their customers."
About Lumos
Lumos is an innovative data analytics company delivering actionable insights, advisory services, and AI-driven technologies with safety and soundness in mind. Backed by expert financial literacy, Lumos provides financial institutions with standardized and automated metrics, powerful credit decisioning models, and efficient processes with rich, curated data and decades of financial institution literacy at the heart of it all. To learn more about Lumos, visit http://www.lumosdata.com.
Media Contact
Carri Mitchell, Lumos Technologies, 1 910-210-0040, [email protected], lumosdata.com
SOURCE Lumos Technologies
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