Wells Fargo to Implement nCino Banking Operating System and Expand Digital Capabilities

Wells Fargo, a $ 1.9 Trillion Company, Selected Technology Platform from Banking Software Provider nCino to Streamline Loan Issuance, Account Opening, Business Process Management, Customer Engagement and instant reporting.

The San Francisco-based bank serves one in three US households and more than 10% of all mid-market businesses and small businesses in the United States.

“We are really proud of the Wells Fargo announcement,” said Josh Glover, president and chief revenue officer of nCino. Banking automation news.

The nCino solution, which is powered by customer relationship management (CRM) company Salesforce.com, combines CRM capabilities with banking functions on a single platform. The US-based software provider’s customer list already includes the $ 3 trillion Bank of America, $ 1.9 trillion Barclays and $ 89.5 billion Santander, as well as others. community and regional banks and credit unions.

When the company started in 2012, Glover must have been a cloud “evangelist” because people worried about data security.

“People were like, ‘Well, will my data be secure and other banks will see my data and, you know, what if it goes to another country? Glover said. “I think people are more comfortable with the realities of the multi-tenant cloud. COVID has really cemented, I think, the need to transform. But it also reinforces for customers the idea that they can and should expect to interact digitally with their bank.

As nCino expands in the United States, the Wilmington, North Carolina-based company sees even more opportunities further afield. With clients in Australia, Canada, Denmark, France, Germany, Ireland, Latvia, Sweden and the UK, nCino opened an office in Tokyo last year.

And nCino is also advancing north of the US border. Earlier this year, Coast Capital, $ 19.4 billion, one of Canada’s largest credit unions with 593,000 members, partnered with the nCino digital lending solution to automate its lending processes. nationwide.

“We are also going very aggressively today in the international market because they do commercial loans, small business loans, consumer loan deposits, etc.,” Glover said. He sees Europe, the Middle East and Asia as strategic markets for the banking software provider.

“I see a bigger addressable market in EMEA than in the US, for example, and so we’re going to treat it that way, build a great reputation. We have a great team in London and teams on the continent in these target countries for us. We are delighted with this, ”added Glover.

NCino actions [NCNO] Trading at the market close today at $ 77.12, an increase of 2.21%.

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