nCino, Inc. (NASDAQ: NCNO), a “pioneer” in Cloud banking and digital transformation solutions for the financial services sector, has solidified its presence in EMEA by opening entities in Spain and France “to advance digital transformation of financial institutions in the region.”
The new business entities are “in addition to one previously announced in Germany along with nCino’s EMEA hub office in London.”
The firm has also “increased its employee base by nearly 50% over the last year across Sales, Marketing and Product Development to drive further localization of the nCino Bank Operating System®”
As mentioned in the update, digital delivery is a key focus in the financial services industry with “the number of people banking digitally in EMEA increasing by 23 percent since the start of the pandemic (McKinsey & Company, 2020).”
This has left financial institutions racing “to deliver tailored digital experiences. nCino, through its agile cloud-based platform, provides solutions to improve the digital journey for clients and employees via smart automation across loan origination, client onboarding, and account opening processes.”
With steady client growth across the region, nCino has “invested in hiring local product development teams, with deep knowledge of in-market regulatory challenges and client needs, to provide innovative new solutions that help ensure FIs receive localised products to help solve their unique challenges.”
Tom Byrne, Head of Product at nCino, EMEA said:
“We’re excited about our progress in EMEA and the work being done within the nCino platform to further localise it for specific regions. By reinvesting approximately 26 percent of our FY21 revenues back into research and development, we’ve been able to build market leading solutions for multiple countries across Europe.”
Byrne added:
“This includes recently launching an Automated Spreading feature, which can reduce the time it takes to spread and process financial statements by 75 percent, and which is being used by numerous customers across the continent. We’re also excited to bring a bespoke Mortgage solution to market for the UK and Ireland, which streamlines the mortgage process for lenders and brokers and creates a simplified and frictionless homebuying experience for borrowers.”
Continued traction in the UK has resulted in financial institutions like GBB, Recognise and Cambridge and Counties “adopting nCino’s cloud-based platform as well as customers in new regions such as Germany (HCOB) and Denmark (kompasbank).”
Jennifer Geary, MD, EMEA at nCino, remarked:
“A year into my role as Managing Director, I’m excited by the momentum we’re experiencing and the demand for the digital banking solutions we offer. The teams we continue to build across the continent not only represent our culture but are also motivated by nCino’s mission of transforming financial services through innovation, reputation and speed,”
Geary also mentioned:
“As we look ahead, we know how important it is for us to understand and embrace the particularities of the markets we operate in, and we look forward to having nCino become even more known and recognised in EMEA through the success and value we deliver to customers.”
As covered, nCino claims to be “the worldwide leader in cloud banking.”
As noted in a release, the nCino Bank Operating System® “empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance.”