Ncino, Inc. - NCNO STOCK NEWS

SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), has announced that Avidia Bank has fully adopted its Nexus Closing tool, enhancing home financing options for its customers across Massachusetts. With $2.3 billion in assets, Avidia Bank utilizes SimpleNexus’ suite to streamline the mortgage process, allowing for traditional, hybrid, and fully remote eClosings. Since the integration, most Avidia borrowers have preferred eSigning documents remotely before closing. This rollout complements the previous acquisition of SimpleNexus’ Nexus Engagement and Nexus Origination solutions, aiming to foster a seamless financing experience.

nCino, a leader in cloud banking, announced it will report its fourth quarter and fiscal year 2023 financial results on March 28, 2023, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results. nCino's Bank Operating System® is designed to enhance efficiency and compliance for financial institutions and is currently utilized by over 1,750 financial partners worldwide. Investors can access the replay of the call on nCino's Investor Relations website post-event.

nCino (NASDAQ: NCNO) has announced a partnership with Rich Data Co (RDC) to enhance the lending process for financial institutions. This collaboration will integrate RDC's AI decisioning capabilities into the nCino Bank Operating System® to provide deeper insights, streamline workflows, and automate monitoring. The partnership aims to benefit commercial and small business lending by leveraging AI and machine learning techniques for better decision-making. This integration is expected to improve operational efficiencies and support the overall credit lifecycle. nCino serves over 1,750 financial institutions globally.

SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), announced that AmeriCU, a New York-based credit union, will implement its Nexus Engagement™, Nexus Origination™, and Nexus Closing™ solutions. This strategic move aims to modernize the homebuying experience for over 150,000 members and enhance process efficiencies. With $2.4 billion in assets, AmeriCU aims to increase operational efficiency and member satisfaction through SimpleNexus’ mobile-first technology. The integration will simplify workflows and enable loan officers to manage the mortgage process directly from a mobile app, resulting in a streamlined and connected homebuying experience.

nCino, Inc. (NASDAQ: NCNO) has appointed Greg Orenstein as Chief Financial Officer, effective January 31, 2023, succeeding David Rudow. Orenstein, who joined nCino in 2015, has extensive experience in corporate development and strategy. The company also reaffirms its Q4 and full-year 2023 financial guidance, projecting total revenues of $104-$105 million for Q4 and $403-$404 million for the fiscal year. Subscription revenues are expected to reach $90-$91 million for Q4 and $342-$343 million for the complete fiscal year. Non-GAAP operating losses are projected between ($3.0) million and ($4.0) million for Q4 and ($7.0) million to ($8.0) million for the fiscal year.

SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), announced the implementation of CompenSafe by CrossCountry Mortgage, enhancing incentive compensation management for loan originators. The platform offers real-time pay visibility and automates payroll functions tied to mortgage compensation plans. CompenSafe integrates with existing loan origination systems, streamlining compensation calculations and increasing transparency for employees. As incentive compensation is a significant expense, this move aims to improve recruitment, retention, and operational efficiency.

nCino (NASDAQ: NCNO) announced the successful implementation of its Bank Operating System for Hamburg Commercial Bank (HCOB), enhancing process efficiency in transaction handling, credit decision-making, and customer interaction.

HCOB, recognized as Germany's 'Best Performing Bank', has won the 'Euromoney Award for Excellence 2022' and aims to expand its commercial banking focus. The partnership with nCino signifies a major step in HCOB's digital transformation, promoting faster processes and a superior customer experience.

nCino, a leader in cloud banking solutions, reported total revenues of $105.3 million for Q3 FY 2023, marking a 50% increase year-over-year. Subscription revenues reached $88.3 million, a 55% growth. Despite facing a GAAP loss from operations of $18.4 million, the company achieved its first quarter of non-GAAP operating income as a public entity, totaling $2.5 million. Remaining Performance Obligation surged to $919.2 million, up 28% year-over-year. nCino projects Q4 revenues between $104 million and $105 million.

nCino (NASDAQ: NCNO) has announced a partnership with Bank of New Zealand (BNZ) to implement its cloud-based Bank Operating System. This platform aims to enhance customer service by streamlining the onboarding process, loan management, and account openings. With over $100 billion NZD in assets, BNZ serves 1.2 million customers and employs over 5,000 staff. nCino's system is designed to meet the evolving needs of financial institutions, focusing on operational efficiency and customer satisfaction.