Ncino, Inc. Stock Price, News & Analysis

nCino (NASDAQ: NCNO) announced that Judo Bank has successfully implemented its Bank Operating System, enhancing digital engagement for customers and employees. This partnership aims to streamline relationship banking for small and medium-sized enterprises (SMEs) in Australia, leveraging cloud technology to improve service delivery during the pandemic. Accenture facilitated the integration, emphasizing the importance of digital solutions in today's financial landscape. Judo Bank's focus remains on building personal relationships with clients, aided by nCino’s innovative systems.

nCino, Inc. (NASDAQ: NCNO) has announced that challenger bank GBB is now operational on the nCino Bank Operating System®, aimed at facilitating easier funding for SME property developers in underserved areas of Northern England. GBB, which is pursuing a banking license, plans to utilize nCino’s cloud-based platform for processing various loans tailored for SMEs. The partnership emphasizes efficiency and customizability, positioning nCino’s technology as a long-term solution for GBB's goals in enhancing financing access for property development in the UK.

nCino, Inc. (NASDAQ: NCNO) has appointed Anthony Morris as SVP of Global Banking Strategy & Customer Advisory, effective immediately. With over 30 years in the banking and software sectors, Morris previously led banking initiatives at Salesforce. His role at nCino will focus on driving the adoption of the nCino Bank Operating System^® among global bank customers. The company aims to enhance its strategies to expand its services in response to increasing demand for digital transformation in banking.

nCino (NASDAQ: NCNO) announces that TruePillars, an Australian SME lender, is now utilizing the nCino Bank Operating System®. The implementation, completed in just 12 weeks with the help of KPMG Australia, allows TruePillars to scale efficiently, enhancing loan origination and approvals. TruePillars aims to improve customer experience while maintaining strong credit oversight. This partnership reflects nCino's commitment to transforming financial services through innovative cloud solutions.

nCino reported total revenues of $66.5 million for Q2 FY2022, reflecting a 36% increase year-over-year. Subscription revenues reached $53.9 million, up 37% year-over-year, with international revenues skyrocketing 129%. The Total Remaining Performance Obligation rose to $707 million, a 55% increase. Despite revenue growth, GAAP net loss was ($13.7 million), improving from the prior year. The company expects Q3 revenues between $66 million and $67 million and projects a fiscal year revenue between $263 million and $264 million.

nCino has announced several key executive promotions to enhance its leadership team, aiming to support ongoing growth. Josh Glover has been promoted to President and Chief Revenue Officer, achieving $204 million in revenue for FY2021, a 48% increase. Greg Orenstein takes on the role of Chief Corporate Development & Strategy Officer, while Trisha Price is named Chief Innovation Officer. Additional promotions include Josh Marcy as Executive VP, Product Management; Dory Weiss as Executive VP, Engineering; and April Rieger as Executive VP, General Counsel & Secretary. These changes reflect the company’s strategic growth plans.

nCino, a leader in cloud banking solutions, announced that Wells Fargo has chosen its Bank Operating System to enhance its digital transformation in commercial banking operations. With approximately $1.9 trillion in assets, Wells Fargo aims to streamline its commercial lending processes, improving efficiency and collaboration across its financial services. The partnership is expected to provide a unified platform that fosters better client experiences and operational speed. Both companies highlight the growing importance of digital-first solutions in meeting client needs.

nCino, a pioneer in cloud banking solutions, will participate in the Middle East Banking Innovation Summit Plus 2021 on September 15-16 in Dubai, UAE. This premier event will gather financial sector experts to discuss digital transformation in banking. nCino will showcase its cloud banking innovations at the Banking Innovation Lounge, addressing how the pandemic has shifted priorities for Middle Eastern banks. According to Davis Brannan, nCino's EVP, the company supports the transition to cloud banking, emphasizing its role in enhancing operational efficiency and client experience.