nCino Inc
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Information Technology : Software | Small Cap Growth
Company profile

nCino, Inc. is a global provider of cloud banking and digital solutions for the global financial services industry. The Company enhances banks and credit unions with the technology they need to meet client expectations and regulatory requirements. The Company’s platform, the nCino Bank Operating System, digitizes, automates and streamlines complex processes and workflow, and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable financial institutions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance. Its nCino IQ (nIQ) application utilizes AI/ML and analytics to enable financial institutions with data-driven insights and automation. The Company serves financial institution customers of all sizes, including global financial institutions, enterprise banks, regional banks, community banks, credit unions and specialty lenders.

Closing Price
$34.11
Day's Change
-0.73 (-2.10%)
Bid
--
Ask
--
B/A Size
--
Day's High
35.79
Day's Low
34.06
Volume
(Below Average)
Volume:
909,067

10-day average volume:
1,043,888
909,067

OSB Community Bank Adopts Nexus Closing by SimpleNexus to Support Hybrid Closings

7:30 am ET July 20, 2022 (Globe Newswire) Print

EQNX::TICKER_START (NASDAQ:NCNO),(OTCQX:OTTW), EQNX::TICKER_END Long-time Nexus Engagement and Nexus Origination customer implements Nexus Closing to provide an end-to-end, single sign-on experience for homebuyers

SimpleNexus (https://simplenexus.com/), an nCino (NASDAQ: NCNO) company and developer of the United States' leading homeownership platform for loan officers (LOs), borrowers, real estate agents and settlement agents, today announced that OSB Community Bank, a subsidiary of Ottawa Bancorp, Inc. (OTCQX: OTTW), has implemented SimpleNexus' Nexus Closing(TM) to facilitate hybrid closings. The bank will leverage Nexus Closing alongside Nexus Engagement(TM) and Nexus Origination(TM)-- tools the bank has used for six years -- to facilitate a 'from anywhere' borrower experience from application to closing.

Founded in 1871, OSB Community Bank is an Illinois-chartered commercial bank with loan officers operating out of branches in Ottawa, Marseilles and Morris, Illinois. Director of Mortgage Sales Dan Sabol credits SimpleNexus' robust platform of digital mortgage solutions as playing an important role in OSB Community Bank's ability to grow annual mortgage volume from $12 million to $125 million over the past six years.

"SimpleNexus provides a modern, easy-to-use interface for customers, while helping our LOs give homebuyers the personalized service that OSB Community Bank has prided itself on for more than a century," said Sabol. "More than offering our customers a unified financing experience, Nexus Closing's seamless integration with Nexus Engagement and Nexus Origination will enable us to operate in a more organized, efficient and productive manner."

Nexus Engagement helps lenders and real estate agents develop relationships with early-stage homebuyers through tools such as integrated home search, instant chat and payment calculators. Nexus Origination is a comprehensive point of sale (POS) platform that enables borrowers to fill out loan applications, eSign documents, check loan status updates and pay mortgage-related charges through a feature called Nexus Pay. Nexus Closing supports all types of mortgage closings, from traditional to hybrid to full eClosings. The entire SimpleNexus suite can be accessed by borrowers, lenders and other authorized stakeholders from anywhere through a single, sign-on portal.

"For organizations producing billions of dollars in mortgage volume to community lenders like OSB Community Bank, SimpleNexus curates a frictionless homebuying experience that delights borrowers and promotes operational efficiency from start to finish," said SimpleNexus Chief Product Officer Shane Westra. "OSB Community Bank brilliantly models how SimpleNexus can be used to keep LOs, real estate agents and homebuyers connected throughout the loan lifecycle, while achieving faster conversion times and growing origination volume."

About SimpleNexus

SimpleNexus, an nCino (NASDAQ: NCNO) company, is an award-winning developer of mobile-first technology for the modern mortgage lender. U.S. lenders depend on our namesake homeownership platform to unite the people, systems and stages of the mortgage process into a seamless, end-to-end solution that spans engagement, origination, closing and business intelligence. By helping lenders manage their teams and stay connected with borrowers and real estate professionals, we deliver a measurable return on investment in the form of reduced turn times, increased loan application submissions and more referral business. A four-time Inc. 5000 company, SimpleNexus has been recognized as one of the world's Best Workplaces for Innovators. For more information, visit https://www.simplenexus.com or follow @SimpleNexus.

Media Contacts

Leslie Colley

DepthPR for SimpleNexus

+1 678.622.6229

leslie@depthpr.com

David Bolin

SimpleNexus

+1 414.688.6077

dbolin@simplenexus.com

Safe Harbor Statement

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will," "could," "might," or "continues" or similar expressions. Any forward-looking statements contained in this press release are based upon nCino's historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino's expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. Additional risks and uncertainties that could affect nCino's business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.

https://ml.globenewswire.com/media/92a42cf3-988c-4434-a0e4-3abfa290329a/small/simplenexus-logo-1024x191-jpg.jpg

https://ml.globenewswire.com/media/92a42cf3-988c-4434-a0e4-3abfa290329a/small/simplenexus-logo-1024x191-jpg.jpg

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COMTEX_410591469/2010/2022-07-20T07:30:00

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