Recent Developments in the Financial Services Industry
March 13, 2023

Like you, we at nCino have been following the banking news over the past few days. Earlier this morning, nCino filed an 8K regarding our customer relationships with Silicon Valley Bank (SVB) and Signature Bank, which were both taken over by the FDIC. As noted in our filing, SVB and Signature Bank collectively contributed less than two percent (2%) of the Company’s total revenues in the third quarter of fiscal year 2023. 

In light of the recent events, we want to assure you that nCino has a large and diverse customer base representing financial institutions of all types and sizes around the globe. We remain well positioned and are focused on serving the banking industry and being a partner through times of change.

In short, we are business as usual and steadily driving our mission forward. 

Thank you,
Pierre Naudé
Chairman & Chief Executive Officer

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