Wells Fargo Expands Adoption of nCino to Transform Small Business Banking Experience
March 31 2022 - 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) 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 premier, cutting-edge
technology experience. Previously, Wells Fargo selected nCino as
the technological foundation to transform its commercial lending
operations.
“The pandemic has certainly changed the way our customers want
to work with us,” said Derek Ellington, Head of Small Business
Banking at Wells Fargo. “Providing more access to digital banking
options that are fast, safe and convenient is important and has
spurred additional investments in technology. Collaborating with
nCino is expected to 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 a single view of each customer, making
the end-to-end lending experience quicker and more efficient.”
For Wells Fargo, a leading financial services company that
proudly serves one in three U.S. households and more than 10% of
small businesses in the U.S. and is the leading middle market
banking provider in the U.S., a key component to its digital
transformation strategy was selecting an end-to-end, flexible,
cloud-native platform that could scale as the business required. As
small business owners increasingly seek quicker 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 the entire lending process for origination, underwriting
and portfolio management.
“We’re incredibly proud to expand our relationship with Wells
Fargo two quarters after they first selected 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 in their continued evolution and transformation, and we are
confident our best-in-class cloud platform will help drive
additional efficiencies and unlock even more value for their
employees and small business clients.”
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 cloud-based platform enhances the employee and
client experience to enable financial institutions to more
effectively onboard 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 is
partnered with more than 1,750 financial institutions of all types
and sizes on a global basis. For more information,
visit www.ncino.com.
About Wells Fargo Wells Fargo &
Company (NYSE: WFC) is a leading financial services company that
has approximately $1.9 trillion in assets, proudly serves one in
three U.S. households and more than 10% of small businesses in the
U.S., and is the leading middle market banking provider 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. 37
on Fortune’s 2021 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
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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
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and uncertainties relating to the market adoption of our solution
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information on potential risks that could affect actual results
will be included in other filings nCino makes with the SEC from
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