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

ASB Successfully Activates nCino to Help Transform Business Lending

4:30 pm ET July 27, 2022 (Thomson Reuters ONE) Print

Top three New Zealand institution by asset size is live on nCino following implementation journey during pandemic

AUCKLAND, New Zealand, July 27, 2022 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that ASB, one of New Zealand's leading commercial banks, is live on the nCino Bank Operating System(R). ASB deployed nCino's Commercial Banking Solution as part of their journey to create a single, cloud-based platform to better serve their business customers. The nCino platform will provide ASB with key insights and the automation necessary to deliver a faster response and streamlined experience for both their bankers and customers.

"Our business lending transformation is delivering user friendly, intuitive, compliance-by-design systems and technology. A big part of this is the nCino software platform, which is being configured by our team, to help simplify our lending processes. This frees up our people to provide guidance and advice to our customers, helping them achieve their goals. We are already hearing positive feedback from our pilot users, with the first loan approval completed shortly after go-live," said Tim Deane, Executive General Manager of Business Banking at ASB.

The New Zealand based $98 billion-asset bank (USD $64B) sought to replace and consolidate 16 existing legacy systems and tools, focusing on one platform that would streamline the lending process for their bankers, as well as provide opportunity to advance compliance by design for regulatory requirements and business processes. This consolidation will provide ASB's bankers more time with their customers, which can be spent helping them advance their financial progress. The implementation of nCino, alongside Salesforce for business origination, supports ASB's transition from legacy systems, with ongoing functionality releases as business lending transitions from existing platforms.

"We're excited to be able to partner with such an esteemed institution with a rich history and commitment to always doing the right thing for New Zealanders," said Mark Bernhardi, Managing Director of Australia and New Zealand at nCino. "The introduction of nCino is one part of ASB's largest ever transformation of business and corporate lending. The team at ASB Bank was enthusiastic about learning and integrating nCino's technology, which empowered them with data-driven insights to serve their clients better. We look forward to our continued partnership with ASB Bank as they deliver seamless, personalised services and experiences for their communities."

About nCino

nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System(R) empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. In a digital-first world, nCino's single cloud-based platform enhances the employee and client experience to enable financial institutions to more effectively onboard clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,750 financial institutions of all types and sizes on a global basis. For more information, visit www.ncino.com.

About ASB

The ASB Group of companies is one of the largest providers of financial and insurance services in New Zealand. ASB Bank Limited is one of New Zealand's leading commercial banks, committed to delivering on our purpose of accelerating financial progress for all New Zealanders through our products, services and how we support our community. For more information, visit www.asb.co.nz

Media Contacts

APAC

Catalina Garcia, nCino

+61 418 215 423

catalina.garcia@ncino.com

Holly Ryan, ASB

021 234 7865

holly.ryan@asb.co.nz

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.

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COMTEX_411106614/2241/2022-07-27T16:30:00

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