Financial Services Leader Chooses nCino to Streamline Origination, Underwriting and Portfolio Management Across Its Small Business Banking Business
WILMINGTON, North Carolina, March 31, 2022 (GLOBE NEWSWIRE) — nCinoInc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Wells Fargo and company (NYSE: WFC) will expand its use of the nCino Bank Operating System® to accelerate digital transformation within its Consumer and Small Business Banking division to deliver a cutting-edge technology experience. Formerly Wells Fargo nCino selected as a technology foundation to transform its commercial lending operations.
“The pandemic has certainly changed the way our customers want to do business with us,” said Derek Ellington, head of small business banking at Wells Fargo. “Providing greater access to fast, secure and convenient digital banking options is important and has spurred additional investment in technology. Working with nCino should provide our customers with a more streamlined lending experience, reducing the sometimes tedious back and forth that sometimes occurs when applying for and obtaining a loan, and it provides our employees with a single view of each customer, making the end-to-end loan experience faster and more efficient.
For Wells Fargo, a leading financial services company that proudly serves one in three American households and more than 10% of small businesses in the United States and is the leading provider of middle-market banking services in the United States, a Key to its digital transformation strategy was selecting a flexible, end-to-end cloud-native platform that can scale with business needs. As small business owners increasingly seek faster access to capital, as well as digital experiences without having to visit a branch, nCino’s Small Business Banking solution offers a single platform to streamline everything. loan process for origination, underwriting and portfolio management.
“We are extremely proud to extend our relationship with Wells Fargo two quarters after they first chose nCino to transform their commercial lending operations,” said Pierre Naudé, CEO of nCino. “Wells Fargo clearly sees the value of the cloud as an enabler of their continued evolution and transformation, and we are confident that our best-in-class cloud platform will help increase efficiency and unleash even more of value to its employees and small business customers. ”
nCino (NASDAQ: NCNO) is the global leader in cloud banking. The nCino Bank operating system® provides financial institutions with scalable technology to help them increase revenue, increase efficiency, reduce costs and comply with regulations. In a digital world, nCino’s unique cloud-based platform enhances the employee and customer experience to enable financial institutions to more efficiently onboard customers, issue loans and manage the entire loan lifecycle, and open depository and other accounts across all lines of business and channels. Transforming the way financial institutions work through innovation, reputation and speed, nCino partners with more than 1,750 financial institutions of all types and sizes globally. For more information, visit www.ncino.com.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company with approximately $1.9 trillion in assets, proudly serves one in three American households and more than 10% of small businesses in the United States , and is the leading provider of middle market banking services. in the United States We offer a diverse set of banking, investment and mortgage products and services, as well as consumer and commercial finance services, through our four reportable operating segments: Consumer and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. Management. Wells Fargo ranked No. 37 in Fortune’s 2021 ranking of America’s largest companies. In the communities we serve, the company focuses its social impact on building a sustainable and inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. carbon. Wells Fargo news, insights and insights are also available at Wells Fargo Stories.
Additional information can be found at www.wellsfargo.com | Twitter: @WellsFargo
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 the use of the words “believes,” similar expressions. Any forward-looking statements contained in this press release are based on nCino’s historical performance and its current plans, estimates and expectations, and do not constitute 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 change these expectations and, except as required by law, nCino undertakes no 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 other things, risks and uncertainties relating to market adoption of our solution and privacy issues. and data security. Additional risks and uncertainties that could affect nCino’s business and financial results are included in nCino’s filings with the United States Securities and Exchange Commission (available on our website at www.ncino.com or on the SEC’s website at www.sec.gov). Further information about potential risks that could affect actual results will be included in other filings by nCino with the SEC from time to time.