Financial services leader selects nCino to streamline origination, underwriting and portfolio management within its Small Business Banking Business
WILMINGTON, N.C. – March 31, 2022 – 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.”
nCino (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