nCino, Inc. Strengths, Domain Expertise, and Key Differentiators
nCino is a leading global provider of cloud-based software for financial institutions. They empower banks and credit unions with the technology they need to meet ever-changing client expectations and regulatory requirements, gain increased visibility into their operations and performance, replace legacy systems, and operate digitally and more competitively. Their solution, the nCino Bank Operating System, digitizes, automates and streamlines inefficient and complex processes and workflow, and utilizes data analytics and artificial intelligence and machine learning (“AI/ML”) to enable financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts and manage regulatory compliance.
nCino, Inc. Recent Developments
In July 2020, nCino launched the roadshow for its initial public offering of 7,625,000 shares of its common stock. The underwriters of the offering will also have a 30-day option to purchase from nCino up to 1,143,750 additional shares of common stock. The initial public offering price is expected to be between $22.00 and $24.00 per share. nCino has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "NCNO."
In December 2019, nCino collaborated with J.D. Power, a global leader in consumer insights, advisory services and data and analytics, to integrate J.D. Power Valuation Services (formerly NADA Used Car Guide) into the nCino Bank Operating System. This addition to the nCino platform allows financial institutions to easily obtain accurate pricing for vehicles used by their commercial or retail customers as loan collateral without having to log into separate systems or rekey data. This integration joins a full line of automated back-office tasks available through nCino that bankers can leverage to provide their customers with a truly exceptional experience. With nCino, financial institutions have access to digital applications and onboarding, a customer-facing portal for the direct exchange of information and workflows that guide interactions while tracking application progress. From the customer experience to back office processes, nCino's Bank Operating System fosters a 360-degree view of loan relationships, allowing bankers to issue faster loan decisions.
In November 2019, nCino expanded its Bank Operating System with nCino IQ (nIQ). nIQ uses artificial intelligence (AI) and machine learning to increase efficiency through automation and provides insights through analytics to improve the overall customer experience by helping financial institutions make faster and more informed decisions and become more predictive and proactive. As part of the nCino Bank Operating System, nIQ works across a financial institution's front, middle and back office to empower bank and credit union employees to respond to customer needs more quickly and remain compliant by providing increased visibility and actionable insights. With nearly two-thirds of financial institutions citing increasing operational efficiency as their top priority over the next one to two years,1 nIQ provides effective tools to automate and connect banking processes, eliminate costly and laborious data entry and inform data-driven decisions to improve the customer journey.
nCino, Inc. Mergers and Acquisitions (M&A) Activities
In July 2019, nCino acquired Visible Equity, a market-leading financial analytics and compliance software company based in Salt Lake City, Utah. This strategic acquisition leverages the unique strengths and joint synergies of each company to further drive and accelerate transformation in financial services. Founded in 2008, Visible Equity is a software as a service (SaaS) company that provides portfolio management, analytics and compliance solutions to banks and credit unions.
nCino, Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying nCino, Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of nCino, Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified nCino Bank Operating System customers.
nCino, Inc. Overview
Ownership: - NASDAQ: NCNO
Number of Employees: 1115
Key Verticals: Banking and Financial Services,
nCino, Inc. Key Enterprise and Cloud Applications
nCino Bank Operating System
nCino, Inc. Revenues, $M:
|Type/Year||2019||2020||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
nCino, Inc. Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
nCino, Inc. Enterprise Applications Revenues By Functional Markets, $M:
nCino, Inc. Enterprise Applications Revenues By Verticals, $M:
nCino, Inc. Revenues By Region, $M
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nCino, Inc. Direct vs Indirect sales
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nCino, Inc. Customers - Breakdown by Geo, Size, Vertical and Product
No. of nCino, Inc. Customers: 1200
No. of nCino, Inc. Enterprise Applications Customers: 1200
No. of nCino, Inc. Cloud Customers: x
No. of nCino, Inc. Cloud Subscribers: x
nCino promotes sales to more than 1200 customers in North America out of their offices in the United States and Canada, in APAC out of their offices in Australia and Japan, and in EMEA out of office in the United Kingdom (“UK”). Some of their customers inculude Texas Farm Credit, Origin Bank, Santander UK, WaFd Bank, Fulton Bank, Westfield Bank, Member Business Financial Services (MBFS), Yourban, Mascoma Bank, On Tap Credit Union, MountainCrest Credit Union and others.
nCino, Inc. Market Opportunities, M&A and Geo Expansions
Ncino plans to extend the depth and breadth of the nCino Bank Operating System’s client onboarding, loan origination and deposit account opening functionality across lines of business, while further enhancing its international capabilities. Additionally, they plan to continue to develop their portfolio analytics and credit modeling capabilities as well as their AI/ML capabilities through automation, predictive analytics, digital assistant services and data source integration. These innovations will further reduce the human resources required for routine but time-consuming tasks, allowing their customers’ employees the ability to spend more time on value creating activities. By continuing to expand the functionality of the nCino Bank Operating System, they can further help their customers improve financial results, operate more efficiently, manage risk and compliance more effectively, and establish a data, audit and business intelligence hub.
Currently deployed in 10 countries, nCino has made significant investments to expand their presence in Europe, the Middle East and Africa (“EMEA”) and APAC, and their solution can currently support over 120 languages and over 140 currencies.
In Octomber 2019, nCino partnered with Japan Cloud, a prominent Tokyo-based professional services firm that helps leading global businesses succeed in the Japanese market, to establish operations in Tokyo. The new subsidiary, nCino K.K., was established to meet the growing demands of financial institutions in Japan looking to digitally transform their operations and improve efficiency. nCino K.K. was created on the heels of strong growth and expansion for nCino, which works with over 250 financial institutions globally and has offices in London, Sydney, Toronto and Salt Lake City in addition to its worldwide headquarters in Wilmington, N.C., U.S.A.
In July 2019, nCino established a new office in Toronto to better support the adoption of the nCino Bank Operating System within Canadian financial institutions. This office follows the opening of offices in London and Sydney in addition to its worldwide headquarters in Wilmington, North Carolina. nCino's growing presence in Canada will serve to enhance the customer and employee experience at financial institutions by delivering a cloud-based solution to Canadian banks and credit unions that are looking to rapidly advance their offerings through innovative products and services. On average, nCino clients have experienced a 40 percent decrease in loan closing times, a 22 percent increase in efficiency, and a 92 percent reduction in servicing costs.
nCino, Inc. Risks and Challenges
If nCino is unable to attract new customers or continue to broaden their existing customers’ use of their solution, their revenue growth will be adversely affected. Furthemore, fundamental elements of the nCino Bank Operating System are built on the Salesforce Platform and they rely on their agreement with salesforce.com (“Salesforce”) to provide our solution to their customers.
nCino, Inc. Ecosystem, Partners, Resellers and SI
nCino has developed strong relationships with a number of leading SIs, including Accenture, Deloitte, PwC and West Monroe Partners, that increase their capacity to onboard new customers and implement the nCino Bank Operating System, extend their global reach and drive increased market awareness of our company and solution.
Over 1,500 SI consultants have completed nCino's training program to implement the nCino Bank Operating System. Through the open architecture of the nCino Bank Operating System, an increasing number of third-party technology partners, including DocuSign, Equifax, Experian, TransUnion, IDology, LexisNexis, OneSpan and The Risk Management Association, are integrated with nCino's solution.
nCino, Inc. Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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