Company:nCino

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nCino
IndustryBanking software
FoundedWilmington, North Carolina (2012)
HeadquartersWilmington, North Carolina
Key people
Pierre Naudé (CEO)
James "Chip" S. Mahan III (co-founder)
Pullen Daniel (co-founder)
Websitewww.ncino.com

nCino is a privately held financial technology company founded in 2012 and headquartered in Wilmington, North Carolina. The company provides cloud-based operating solutions[buzzword] for the financial services industry.[1][2] Some of nCino's customers include TD Bank, SunTrust Bank, and Santander Bank.[3][4][5]

History

nCino was founded in 2012 by a team of bankers led by James "Chip" Mahan III and Pullen Daniel as a majority-owned subsidiary of Live Oak Bancshares, a bank holding company.[6][7][8] Pierre Naudé has served as CEO of nCino since its inception.[1] In 2014, nCino received a $10 million investment from Wellington Management Company LLP, after it experienced a 206 percent growth in revenue.

Funding

In 2013, nCino raised $9 million in investment funding from a group of investors that included former Morgan Stanley Chairman and CEO John Mack, Promontory Financial Group CEO Eugene Ludwig, and Live Oak Bank Chairman and CEO Mahan.[9] In 2014, nCino received a $10 million investment from Wellington Management Company LLP, after it experienced a 206 percent growth in revenue.[10] In February 2015, nCino secured an additional $29 million in a Series B Financing, led by Insight Venture Partners.[11][12] In 2018, nCino received a $51 million round of venture funding led by Salesforce Ventures, the corporate investment group of Salesforce.[13][14] nCino has been a Salesforce partner in financial services since its founding in 2012.[15]

Operations

nCino is headquartered in Wilmington, North Carolina, with offices in London and Sydney.[16][17] The company's Bank Operating System is a cloud-based, fully integrated banking solution.[buzzword][15] nCino's strategic partners include Accenture, Deloitte Digital, PwC and West Monroe Partners.[18][19][20][21]

Awards and recognition

nCino was named to the Inc. 500, an annual ranking of the fastest growing privately-held companies in America, in 2016 and 2017.[22]

In 2018, nCino ranked No. 24 on the Forbes Cloud 100 List, an annual ranking of private cloud-computing companies in the tech sector.[23]

References

  1. ↑ 1.0 1.1 Feldman, Amy. "How nCino Is Creating A $24M Business Moving Banks To The Cloud" (in en). https://www.forbes.com/sites/amyfeldman/2016/01/10/fast-growing-ncino-sells-banks-software-to-simplify-the-loan-process-and-a-whole-lot-else/#366bc23b4d77. Retrieved 8 March 2019. 
  2. ↑ "nCino, Inc.: Private Company Information - Bloomberg". https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=226872615. Retrieved 8 March 2019. 
  3. ↑ "Santander Creates Digital Investment Unit". 16 July 2018. https://www.pymnts.com/news/international/2018/santander-digital-investment-unit-global-banking-spanish-banks/. Retrieved 8 March 2019. 
  4. ↑ Penn, David (26 March 2018). "TD Bank to Deploy nCino's Bank Operating System". https://finovate.com/td-bank-to-deploy-ncinos-bank-operating-system/. Retrieved 8 March 2019. 
  5. ↑ Yurcan, Bryan. "SunTrust Pursues Tech Edge in Commercial Banking" (in en). https://www.americanbanker.com/news/suntrust-pursues-tech-edge-in-commercial-banking. Retrieved 8 March 2019. 
  6. ↑ Sposito, Sean. "Lending in the Cloud: Man Behind First Web Bank Is Back" (in en). https://www.americanbanker.com/news/lending-in-the-cloud-man-behind-first-web-bank-is-back. Retrieved 8 March 2019. 
  7. ↑ Greenland, Martin. "Yorkshire Building Society implements cloud-based platform". https://specialistbanking.co.uk/article-desc-4853_yorkshire-building-society-implements-cloud-based-platform. Retrieved 8 March 2019. 
  8. ↑ Lee, Peter. "Fintech: NCino offers to overhaul European banks" (in en). https://www.euromoney.com/article/b12khpdy02l1gq/fintech-ncino-offers-to-overhaul-european-banks. Retrieved 8 March 2019. 
  9. ↑ Cumming, Chris. "nCino Raises $9M in First Funding Round" (in en). https://www.americanbanker.com/news/ncino-raises-9m-in-first-funding-round. Retrieved 8 March 2019. 
  10. ↑ "NCino Banks $10M for Financial-Services Technology". 11 February 2014. https://www.wsj.com/articles/DJFVW00020140211ea2bm5wda. Retrieved 8 March 2019. 
  11. ↑ "nCino Secures $29M in Series B Financing | News & Press". 24 February 2015. https://www.insightpartners.com/about-us/news-press/ncino-secures-29-million-in-series-b-financing/. Retrieved 8 March 2019. 
  12. ↑ Strauss, Karsten. "A $29 Million Bet On Banking Software" (in en). https://www.forbes.com/sites/karstenstrauss/2015/02/24/a-29-million-bet-on-banking-software/#5e459578569c. Retrieved 8 March 2019. 
  13. ↑ Yurcan, Bryan. "Salesforce boosts nCino global expansion plans" (in en). https://www.americanbanker.com/news/salesforce-ventures-adds-funding-to-ncino. Retrieved 8 March 2019. 
  14. ↑ Schaber, Olivia (31 January 2018). "Wilmington cloud banking firm nCino lands $51.4M; Salesforce is an investor (+ video)". https://www.wraltechwire.com/2018/01/31/wilmington-cloud-banking-firm-ncino-lands-51-4m-in-new-funding/. Retrieved 8 March 2019. 
  15. ↑ 15.0 15.1 Mari, Angelica (16 February 2018). "nCino's role at the heart of Salesforce's retail banking cloud solution". https://diginomica.com/ncinos-role-at-the-heart-of-salesforces-retail-banking-cloud-solution/. Retrieved 8 March 2019. 
  16. ↑ Lee, Peter. "Fintech: NCino offers to overhaul European banks" (in en). https://www.euromoney.com/article/b12khpdy02l1gq/fintech-ncino-offers-to-overhaul-european-banks. Retrieved 8 March 2019. 
  17. ↑ "Bloomberg - Are you a robot?". https://www.bloomberg.com/news/audio/2019-01-23/ai-will-enhance-consumer-access-to-credit-ncino-ceo-radio. Retrieved 8 March 2019. 
  18. ↑ "Accenture and nCino Expand Alliance to Accelerate Digital Transformation Within Top U.S. Banks | Accenture Newsroom" (in en). https://newsroom.accenture.com/news/accenture-and-ncino-expand-alliance-to-accelerate-digital-transformation-within-top-us-banks.htm. Retrieved 8 March 2019. 
  19. ↑ "Deloitte partners with nCino to accelerate innovation in banking industry". https://www.verdict.co.uk/retail-banker-international/news/deloitte-launches-ncino-delivery-center-for-banking-clients-130515-4575501/. Retrieved 8 March 2019. 
  20. ↑ "nCino and PwC Australia Collaborate to Deliver Cloud-based Digital Banking Platform" (in en-au). https://www.pwc.com.au/press-room/2018/pwc-ncino-collaboration.html. Retrieved 8 March 2019. 
  21. ↑ "West Monroe and nCino partner to offer cloud banking" (in en). https://www.consultancy.uk/news/3092/west-monroe-and-ncino-partner-to-offer-cloud-banking. Retrieved 8 March 2019. 
  22. ↑ "Spread the Word: nCino Is No. 361 on the Inc. 5000 This Year!" (in en). https://www.inc.com/profile/ncino. Retrieved 8 March 2019. 
  23. ↑ "nCino on the Forbes Cloud 100 List" (in en). https://www.forbes.com/companies/ncino/#666ddd787bc0. Retrieved 8 March 2019. 




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