nCino and Salesforce Expand Strategic Partnership to Further Modernize the Financial Services Industry
December 21 2023 - 7:30AM
nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the
global financial services industry, today announced an expanded
partnership with Salesforce to accelerate the delivery of
best-in-class cloud solutions to the financial services industry.
This builds on nCino and Salesforce’s long-standing collaboration,
established in 2011, to empower financial institutions with digital
innovations that increase efficiency, transparency, and reduce
risks while driving customer growth and loyalty.
“Our strategic partnership with Salesforce has enabled nCino to
transform the financial services industry by providing
industry-specific solutions that drive efficiencies, deliver
intelligence, and help institutions modernize for a more agile
future,” said Pierre Naudé, Chairman and CEO of nCino. “We’re glad
to again be expanding our work with Salesforce and are committed to
utilizing each other’s strengths to further benefit financial
institutions of all sizes around the globe.”
“nCino’s success is a testament to the enormous opportunity in
front of ISVs building on Salesforce,” said Brian Landsman,
Executive Vice President, Global Technology Partners, at
Salesforce. “Salesforce is the world’s #1 AI CRM, trusted by
thousands of partners to power purpose-built solutions for highly
specialized industries. The expansion of our work with nCino will
only accelerate how our customers are reimagining the future of
personalized financial services.”
As part of the agreement, nCino will deepen its connectivity to
Salesforce platform tools including CRM, powered by AI and
automation, and Financial Services Cloud. These innovations
will empower financial institutions utilizing nCino and Salesforce
to further modernize customer experiences like onboarding, loan
origination, deposit account opening, and portfolio management.
The expanded agreement also includes updated commercial terms
which are expected to improve nCino’s subscription gross margins,
minimum payment commitments from nCino during the first four fiscal
years of the term of the extension, and an extension of the term of
the agreement to 2031.
About nCinonCino (NASDAQ: NCNO) is the
worldwide leader in cloud banking. Through its single
software-as-a-service (SaaS) platform, nCino helps financial
institutions serving corporate and commercial, small business,
consumer, and mortgage customers modernize and more effectively
onboard clients, make loans, manage the loan lifecycle, and open
accounts. Transforming how financial institutions operate through
innovation, reputation and speed, nCino is partnered with more than
1,850 financial services providers globally. For more information,
visit www.ncino.com.
Salesforce, Financial Services Cloud and others are
among the trademarks of Salesforce, Inc.
nCino Media ContactsNatalia
Moosepress@ncino.com
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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 expectations to
change and, except as may be required by law, nCino does not
undertake any 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 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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