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Customer feedback and product innovation drive nCino as a top technology vendor in the 2021 Impact Matrix
WILMINGTON, N.C., Nov. 30, 2021 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, is proud to be named a Best-In-Class vendor by Aite Group for its Commercial Banking Solution. The only technology vendor to ever achieve the recognition for the third consecutive time, nCino received the highest classification in the Aite Matrix: Commercial Loan Origination Automation report, after scoring top marks in each of the four categories: vendor stability, client strength, client service and product features.
“We are incredibly proud that Aite Group continues to recognize nCino as a leader in commercial loan origination,” said Josh Marcy, EVP of Product Management at nCino. “Our customers who provide feedback and help us continually innovate our product to meet the evolving needs of the market, are the catalyst to how nCino has received this award each year since it was created. Our goal from the start has been to provide an experience for our customers driven by simplicity, efficiency and speed. This acknowledgment from a respected global analyst firm showcases the robustness of the nCino platform and the strength of our partnerships with financial institutions globally.”
The analyst group determined nCino’s Bank Operating System® to be best-in-class based on multiple factors, including:
nCino’s cloud-based, single platform solution that stretches across onboarding, deposits and loan origination;
nCino’s commitment to innovation and intelligence with the expansion of nCino IQ (nIQ) functionality including intelligent automation with Automated Spreading and rate optimization analysis with the introduction of Commercial Pricing and Profitability; and,
The amount of total revenue that nCino invests in research and development to fuel product innovation.
Commenting on nCino’s performance, David O’Connell, Strategic Advisor at Aite-Novarica Group, said, “In the area of Product Features, nCino led because of both its capability breadth and clients’ favorable takes on this vendors ability to assist with digitalization, consult on API strategies, and listen to client requests.” O’Connell went on to add, “Also boosting nCino’s score was its large and diverse customer base.”
As Aite’s report shows, financial institutions around the globe are growing because nCino's Commercial Banking Solution drives intelligent automation into every corner of the financial institution, enabling the Intelligent Enterprise for the Commercial Bank. Through a single platform, institutions have the power to manage all aspects of the commercial banking process from onboarding to account opening, to loan origination and approval. The results speak for themselves, as the financial services industry transforms to serve a rapidly changing world.
“We partnered with nCino to implement their Commercial Banking Solution and we know the impact nCino will have on connecting disjointed systems, creating continuity across lines of business and supporting the customer journey through any channel. We’re excited about our continued collaboration and partnership with nCino and look forward to developing a plan to integrate more features of the nCino platform in the future.” – WestStar Bank’s New Mexico Market President and Executive Co-Sponsor of nCino, Raymond Baer
“Our relationship-led model means our bankers are focused on spending quality time with our customers to deeply understand their business. However, their time is finite, and so the systems that support them need to take administration off their plate, support communications and generate fast decisions for customers. nCino’s Commercial Banking Solution allows our bankers to continue to support the customer's experience while also freeing them up to do what they do best - spending quality time with our customers." – Judo Bank’s Chief Operating Officer, Lisa Frazier
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System® 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 digital platform enhances the employee and client experience to enable financial institutions to more effectively onboard new 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 works with more than 1,200 financial institutions globally, whose assets range in size from $30 million to more than $2 trillion. For more information, visit: www.ncino.com.
Sutton Resler, nCino
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.