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nCino, Inc. (NASDAQ: NCNO) is a leading financial technology company headquartered in Wilmington, North Carolina. Founded in 2011, nCino offers a cloud-based banking solutions platform built on Salesforce, designed to modernize and streamline the complex processes within financial institutions. The company's software suite digitizes, automates, and enhances workflows through the integration of data analytics and artificial intelligence.
The core services provided by nCino include client onboarding, loan origination, deposit account opening, and regulatory compliance management. These modules help financial institutions improve efficiency, reduce loan processing times, and enhance customer experiences. nCino caters to a wide range of clients including enterprise banks, regional banks, community banks, and credit unions, with the majority of its revenue derived from subscription services within the United States.
nCino has been steadily growing its market presence and recently announced significant partnerships and acquisitions. Notably, it partnered with Mechanics and Farmers Bank (M&F) to provide improved access to capital for diverse communities. The collaboration with M&F Bank helps streamline loan processing and enhances the banking experience for underserved markets. Additionally, nCino acquired DocFox, a solution provider that automates onboarding processes for commercial and business banking. This acquisition aims to unify and manage client lifecycles more effectively across financial institutions.
nCino continues to innovate and expand its product offerings. The recent implementation of their Automated Spreading Solution for Desjardins Group demonstrates their commitment to leveraging machine learning to improve underwriting processes and enhance operational efficiencies. These strategic developments highlight nCino's pivotal role in transforming the financial services industry through technology and innovation.
With a customer base of over 1,800 financial institutions worldwide, nCino is dedicated to driving change in the banking sector by providing reliable, efficient, and innovative solutions that meet the evolving needs of its clients.
Alloy, a leading identity risk management platform, has appointed Kathryn Cook as Chief Marketing Officer (CMO) to support its rapid global growth. Cook brings significant experience from her nine-year tenure at nCino (NASDAQ: NCNO), where she led global marketing and communications. Alloy, founded in 2015, serves over 600 top financial services firms, including Stash, Live Oak Bank, and Shopify. Recent achievements include acquiring over 200 new clients, triple-digit revenue growth in the UK, and launching new solutions like Ongoing Fraud Monitoring. Alloy's CEO, Tommy Nicholas, expressed enthusiasm for Cook's addition to the team, highlighting her role in the company's next growth phase.
nCino has launched its new artificial intelligence (AI) solution, Banking Advisor, which aims to optimize decision-making for financial institutions. Powered by nCino IQ (nIQ), this tool offers real-time intelligence, enhances productivity, and simplifies complex processes for banks of all asset sizes and geographies.
Key features include interactive document handling, intelligent automation for credit memos, data-driven insights, advanced document processing, and responsive query solutions. The tool has been tested in a closed beta program and received positive feedback for improving efficiency and proactive portfolio management.
Participants like First Horizon Bank and Northern Bank are early adopters, praising its transformative capabilities. Banking Advisor is designed to assist multiple roles within financial institutions, from automating routine tasks to compliance tracking and client relationship management.
nCino, a leader in cloud banking solutions for the global financial industry, announced its participation in the BofA Securities 2024 Global Technology Conference. The presentation is scheduled for June 4 at 2:40 p.m. PT (5:40 p.m. ET).
A live webcast and event replay will be accessible on nCino's Investor Relations website.
nCino (NASDAQ: NCNO) reported first-quarter fiscal year 2025 financial results with total revenues at $128.1M, a 13% increase year-over-year, and subscription revenues at $110.4M, also up 13%. GAAP operating margin improved by ~500 basis points to (3)%, while non-GAAP operating margin rose by ~900 basis points to 19%. GAAP net loss was $(3.0)M, an improvement from $(11.2)M in the same quarter last year. Non-GAAP net income more than doubled to $22.0M, translating to $0.19 per diluted share. The company's RPO grew 17% year-over-year to $1.069B. Recent wins include expansion agreements with M&T Bank and a district bank in the Farm Credit System. For Q2 FY2025, nCino projects revenues between $130.5M-$131.5M and non-GAAP net income per diluted share between $0.12-$0.13. For FY2025, it forecasts revenues between $538.5M-$544.5M and non-GAAP net income per diluted share between $0.65-$0.68.
Polly, a leading provider of mortgage capital markets technology, has announced a new API integration with nCino, a cloud banking pioneer. This integration combines Polly's advanced pricing engine with nCino's Mortgage Suite, enhancing the capabilities of lenders and loan officers by allowing seamless pricing searches and loan locking both via web and mobile. This integration aims to boost margins, speed, accuracy, and confidence in loan pricing processes. Key figures from both companies highlight the potential benefits for lenders, referral partners, and borrowers in today's competitive market. Polly's system, built for cloud scalability, is set to significantly improve user experience and efficiency.
nCino (NASDAQ: NCNO) announced that M&T Bank (NYSE: MTB) is expanding its use of nCino’s platform by integrating the Continuous Credit Monitoring Solution, powered by Rich Data Co’s AI platform.
This solution aims to enhance credit risk assessment and loan performance monitoring. Leveraging explainable AI, it offers transparency and comprehensive insights into cash flow, credit risk, and lending opportunities, allowing M&T to detect early warning signs and make data-driven decisions.
This initiative positions nCino as a leader in proactive credit risk management, bolstering M&T's operational efficiency and customer service.
nCino (NASDAQ: NCNO), a leader in cloud banking solutions for the financial services sector, is set to announce its financial results for the first quarter of fiscal year 2025 on May 29, 2024, post-market close. The announcement will be followed by a conference call and webcast at 4:30 p.m. ET, where nCino's executives will discuss the results in detail. A replay of the webcast will be accessible on nCino's Investor Relations website.
nCino, Inc. announced that Libro Credit Union has chosen nCino's Cloud Banking Platform to enhance operations and customer experience. The move will empower employees, improve efficiency, and drive positive impact in Ontario communities. Libro's transition to nCino's platform signifies a commitment to innovation and customer service.
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