Cloud Banking Solutions Firm nCino Opens New Entities in Spain and France

nCino (NASDAQ: NCNO), a worldwide provider of cloud banking and digital transformation solutions for the financial services industry, has expanded its footprint in EMEA by establishing subsidiaries in Spain and France. It’s meant to help financial institutions in the area achieve digital transformation.

The two organizations join nCino’s EMEA hub office in London and a previously announced entity in Germany. In order to promote greater localization of the nCino Bank Operating System, the company has grown its employment base by approximately 50 percent in Sales, Marketing, and Product Development during the previous year.

The financial services industry seems to be focusing on digital delivery, with the number of individuals banking online in EMEA rising by 23 percent since the epidemic began (McKinsey & Company, 2020). As a result, financial institutions (FIs) would be rushing to provide personalized digital experiences. Through its flexible cloud-based platform, nCino helps clients and workers optimize their digital journeys by automating loan origination, client onboarding, and account opening procedures.

With steady client growth across the region, nCino has invested in hiring local product development teams with a deep understanding of in-market regulatory challenges and client needs to provide innovative new solutions that ensure FIs receive localized products to help them solve their unique challenges.

Mortgage Solution 

“We’re excited about our progress in EMEA and the work being done within the nCino platform to further localize 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,” said Tom Byrne, Head of Product at nCino, EMEA. “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.”

nCino’s cloud-based technology has been used by FIs such as GBB, Recognise, and Cambridge and Counties, as well as clients in new areas such as Germany (HCOB) and Denmark (kompasbank).

“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,” said Jennifer Geary, Managing Director, EMEA at nCino. “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 recognized in EMEA through the success and value we deliver to customers.”