nCino, Inc. - NCNO STOCK NEWS

nCino, Inc. (NASDAQ: NCNO) has completed the acquisition of SimpleNexus for approximately 12.76 million shares and $270 million in cash. This strategic move aims to enhance nCino's cloud banking platform with mobile-first homeownership capabilities, boosting its position as a leader in financial services innovation. The acquisition is expected to generate $3.6 to $3.8 million in revenue for nCino in Q4 FY2022. This combination of technologies aims to streamline financial processes for institutions and improve customer engagement across various lending services.

nCino (NASDAQ: NCNO) announced that Armstrong Bank, a community bank with nearly $3 billion in assets, will implement the nCino Bank Operating System to enhance lending, account opening, and client engagement across various business lines. This platform will replace multiple systems with a centralized, cloud-based solution, promoting efficiency and improved customer experience. Automation will significantly reduce onboarding time, with customers able to open accounts in under five minutes, thereby increasing satisfaction and driving profitability.

KeyBank has enhanced its client experience through a significant investment in nCino's technology. The nCino Bank Operating System® will now support KeyBank's small business banking, improving transparency and client engagement. As part of this expansion, KeyBank aims to offer a comprehensive view of clients' financial health, especially in light of ongoing economic challenges from the Covid-19 pandemic. A recent survey indicated that 42% of business owners prioritize financial planning as they prepare for potential economic shifts.

nCino reported total revenues of $70.0 million for Q3 FY2022, a 29% increase year-over-year, with subscription revenues rising 32% to $57.1 million. Despite these gains, the company experienced a GAAP net loss of $13.6 million ($0.14 per share), worsening from $9.1 million a year earlier. The Remaining Performance Obligation rose by 58% to $718 million. nCino signed a definitive agreement to acquire SimpleNexus for approximately $1.2 billion. Guidance for Q4 shows expected revenues between $68.5 and $69.5 million.

nCino has been recognized as a Best-In-Class vendor in Aite Group's 2021 Impact Matrix for its Commercial Banking Solution, achieving this distinction for the third consecutive year. The company's platform received top scores in vendor stability, client strength, client service, and product features. nCino's commitment to innovation and robust customer feedback have driven its success in enhancing digital banking experiences. The recognition reflects nCino's ongoing efforts to support financial institutions globally through intelligent automation and a comprehensive single-platform solution.

nCino (NASDAQ: NCNO), a leader in cloud banking solutions, is set to participate in two major investor conferences. The first is Nasdaq’s 45^th Investor Conference on December 2, 2021, at 10:00 a.m. ET. The second is the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2021, at 9:10 a.m. ET. Both events will be webcast live, with replays available on their Investor Relations website. nCino's technology empowers over 1,200 financial institutions worldwide.

nCino (NASDAQ: NCNO) announced the acquisition of SimpleNexus for approximately $1.2 billion, combining a leading homeownership platform with its Bank Operating System. This strategic move is set to expand nCino's presence in the U.S. mortgage market, increasing its addressable market by over $4 billion. The acquisition will enhance mobile and point-of-sale capabilities, supporting over 1,100 existing customers. The transaction, structured with $240 million in cash and 13.2 million shares, is expected to close by the end of January 2022, subject to regulatory approvals.

nCino (NASDAQ: NCNO) will report its financial results for Q3 of fiscal year 2022 after market close on December 1, 2021. The company, known for its cloud banking solutions, will host a conference call at 4:30 p.m. ET on the same day to discuss the results. nCino's Bank Operating System® helps financial institutions enhance operational efficiency and regulatory compliance, serving over 1,200 clients globally with assets ranging from $30 million to over $2 trillion.

nCino (NASDAQ: NCNO) announced that Judo Bank has successfully implemented its Bank Operating System, enhancing digital engagement for customers and employees. This partnership aims to streamline relationship banking for small and medium-sized enterprises (SMEs) in Australia, leveraging cloud technology to improve service delivery during the pandemic. Accenture facilitated the integration, emphasizing the importance of digital solutions in today's financial landscape. Judo Bank's focus remains on building personal relationships with clients, aided by nCino’s innovative systems.