Ncino, Inc. Stock Price, News & Analysis

SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), has strengthened its eight-year technology partnership with Kings Mortgage Services, a California-based lender. The implementation of Nexus Closing and Nexus Vision will enhance operational efficiency and customer experience. Kings Mortgage Services aims to provide a digital homebuying experience, leveraging Nexus Vision's analytics for data-driven decision-making. This collaboration continues to streamline mortgage processes while adapting to evolving market demands, promising improved performance and profitability for Kings Mortgage Services.

nCino, Inc. (NASDAQ: NCNO) announced that PeoplesBank, a community bank in York, Pennsylvania, has successfully implemented nCino's Small Business Banking Solution to enhance funding speed for clients. With assets of $2.3 billion, PeoplesBank aims to better support small businesses, which are crucial to the economy, contributing to over 65% of new jobs in the U.S. The bank’s leadership expressed pride in leveraging technology to meet the evolving needs of their clients.

SimpleNexus, an nCino company (NASDAQ: NCNO), has partnered with EMM Loans to implement the Nexus Engagement™ and Nexus Origination™ platforms, enhancing their digital mortgage services. This collaboration aims to streamline the homebuyer experience and improve recruitment and retention of talent within EMM Loans. With 91 loan officers in 38 states, EMM Loans will utilize SimpleNexus technology to optimize its operations, thereby fostering better relationships with borrowers and real estate professionals, and ultimately driving more business.

nCino (NASDAQ: NCNO) announced the launch of Avenue Bank, a digital business bank in Australia designed for small and medium-sized enterprises (SMEs). Operating on the nCino Bank Operating System, Avenue Bank aims to enhance customer onboarding, credit risk management, and overall banking efficiency. The partnership highlights a commitment to delivering timely banking solutions through innovative cloud technology. Avenue Bank emphasizes its goal to transform business banking standards in Australia, focusing on customer needs and swift decision-making.

Codat, a universal API for small business data, has partnered with nCino (NASDAQ: NCNO) to streamline the small business loan underwriting process. This integration helps banks reduce the time taken to transfer borrower financial data, thereby improving efficiency and accuracy. The nCino platform is utilized by over 1,750 financial institutions and now supports automated data collection via Codat. Recognise Bank is among the first to implement this integration, enhancing their service delivery for SMEs. With a growing focus on digital transformation, this partnership aims to simplify access to credit for small businesses.

nCino reported a strong second quarter of fiscal 2023, with total revenues of $99.6 million, reflecting a 50% year-over-year increase. Subscription revenues reached $84.4 million, a 57% rise, while organic subscription revenues grew 29% to $69.4 million. However, the company posted a GAAP loss from operations of ($25.0 million) compared to ($13.2 million) last year. For Q3, nCino anticipates revenues between $103 million and $104 million and a non-GAAP net loss per share between ($0.02) and ($0.03).

nCino (NASDAQ: NCNO) has partnered with Rabobank Australia and New Zealand (RANZ) to implement the nCino Bank Operating System, enhancing financial spreading analysis through its Automated Spreading solution, which utilizes AI and machine learning. This collaboration aims to improve banking services for RANZ’s Australian and New Zealand customers by automating processes, thereby freeing up staff to focus on customer relationships. RANZ is one of the largest agricultural lenders in the region, and this partnership signifies a commitment to digital transformation and improved service delivery.

nCino (NASDAQ: NCNO) announced its participation in the Piper Sandler Growth Frontiers Conference, scheduled for Tuesday, September 13, at 3:20 p.m. ET. The event highlights nCino's leadership in cloud banking and digital transformation for financial institutions.

Investors can access the live webcast and replay on the Company's Investor Relations website. nCino provides a Bank Operating System that enhances efficiency, revenue growth, and compliance for over 1,750 global financial institutions.

SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), has partnered with Approved Mortgage, Indiana's oldest and largest locally owned mortgage bank, to implement its advanced homeownership platform. This collaboration aims to offer a mobile-first experience, enhancing services for clients and real estate professionals. Approved Mortgage has funded over $6.5 billion in loans and will leverage SimpleNexus' features to streamline processes and improve client interactions. The integration is expected to help Approved Mortgage remain competitive in a market increasingly dominated by tech-savvy consumers, ensuring efficient homebuying.