Wells Fargo Selects nCino to Enhance Commercial Banking Lending
September 01 2021 - 4:01PM
nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital
transformation solutions for the global financial services
industry, today announced that Wells Fargo & Company (NYSE:
WFC) has selected the nCino Bank Operating System as a
foundational technology platform to accelerate its digital
transformation within its commercial banking and corporate &
investment banking businesses, and to transform its commercial
lending operations.
Wells Fargo is a leading financial services company proudly
serving one in three U.S. households and more than 10 percent of
all middle market companies and small businesses in the U.S.
Through its Commercial Banking business, Wells Fargo serves the
complex and evolving needs of small, mid-sized, and large
commercial and corporate companies with annual sales generally in
excess of $5 million. By adopting the nCino Bank Operating System,
Wells Fargo gains a flexible and agile, digital solution that
manages all aspects of the commercial banking lending process.
nCino’s single platform spans business lines, connects employees,
clients, and third parties, and eliminates silos within financial
institutions to provide a more holistic view of clients, enhance
collaboration, generate more loans, and reduce costs.
“Wells Fargo is investing in digital capabilities to improve our
clients’ experience and enable our teams to more quickly and
effectively serve clients,” said Kyle Hranicky, EVP and Head of
Middle Market Banking at Wells Fargo. “nCino offers a best-in-class
platform that will help us to continue to meet the evolving needs
of our clients.”
The last year has rapidly accelerated many digitization
initiatives within financial institutions. nCino’s Commercial
Banking Solution provides financial institutions with a seamless
end-to-end experience, replacing disparate systems with one digital
solution to drive automation and streamline credit processes.
“We are very excited to welcome Wells Fargo, one of the nation’s
leading providers of financial services, to the nCino platform,”
added Pierre Naudé, CEO at nCino. “Now, more than ever, financial
institutions of all sizes require a digital-first, client-centric
approach. We look forward to partnering with Wells Fargo on their
digital transformation journey and helping drive greater
automation, speed and efficiency across their commercial banking
operations.”
About nCinonCino (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.
About Wells FargoWells Fargo & Company
(NYSE: WFC) is a leading financial services company that has
approximately $1.9 trillion in assets and proudly serves one in
three U.S. households and more than 10% of all middle market
companies and small businesses in the U.S. We provide a diversified
set of banking, investment and mortgage products and services, as
well as consumer and commercial finance, through our four
reportable operating segments: Consumer Banking and Lending,
Commercial Banking, Corporate and Investment Banking, and Wealth
& Investment Management. Wells Fargo ranked No. 30 on Fortune’s
2020 rankings of America’s largest corporations. In the communities
we serve, the company focuses its social impact on building a
sustainable, inclusive future for all by supporting housing
affordability, small business growth, financial health and a
low-carbon economy. News, insights and perspectives from Wells
Fargo are also available at Wells Fargo Stories. Additional
information may be found at www.wellsfargo.com |
Twitter: @WellsFargo.
MEDIA
CONTACTS |
|
Sutton Resler, nCino |
Kathryn Cook, nCino |
+1 571.236.4966 |
+1 919.691.4206 |
sresler@mww.com |
kathryn.cook@ncino.com |
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
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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
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does not undertake any obligation to update or revise these
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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.
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