WILMINGTON, N.C.--(BUSINESS WIRE)--nCino, the leader in secure, cloud-based bank operating solutions to the financial services industry, concluded 2014 with record revenue, customer acquisition and employee growth while continuing to deliver new product innovations throughout the year.
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In 2014, nCino saw its revenue increase 206 percent from 2013.
Entering into 2015, nCino has grown its customer portfolio to 81 financial institutions. This compares to 36 customers at yearend 2013. These new additions expanded the geographic scope of nCino’s customers, with the greatest growth in California as well as the Midwest. The company also successfully scaled the size of institutions deploying its technology; nCino’s largest bank client was just over $3 billion in assets in 2013, but in 2014 the company signed three banks with assets of more than $68 billion, further demonstrating the scalability, security and flexibility of the Bank Operating System for banks and credit unions of all asset sizes.
A few other metrics of note from 2014 include:
- Averaging 21 weeks to take a new customer through to full implementation;
- Training well over 2,000 individuals on the nCino Bank Operating System across 41 different banks and credit unions; and
- Having more than $10 billion in loans processed using nCino.
nCino’s rapid growth propelled the company to make additional hires, and it reached the 100 employee milestone by yearend, with 53 percent of all employees having prior banking experience. On these hires, nCino CEO Pierre Naudé said, “Building the team is exciting for any company, but especially so for companies of our size. While we were able to dedicate new resources to sales, training and support, our biggest point of emphasis was and remains product development and customer success. We not only have an aggressive roadmap to deliver on time, but also big ideas for what must come next.”
Ongoing product development during 2014 and a fast go-to-market plan was credited in part with an $11 million investment round during the first quarter. One result of those funds was nCino Lite, a basic license of the Bank Operating System that enables financial institutions to broaden their use of the platform by granting read-only licensee access to users not normally involved in lending, but valuable to the referral process. nCino Lite gets more financial institution employees, such as tellers or personal bankers, involved in monitoring referrals for new products and services, acknowledging their role to impact and also benefit from visibility into customer or member relationships.
Naudé added, “I am very proud of nCino’s accomplishments in 2014 and even more proud of the results our customers are seeing from the system. If I told you what we expect that 2015 will hold for us, I’m sure no one would believe me. There are exciting partnerships before us, large implementations on the horizon and significant innovations planned. This year, I believe the financial services industry will fully realize the nCino Bank Operating System gives institutions and their employees a single tool to become more profitable, efficient, secure and compliant.”
Wilmington, N.C.-based nCino, Inc. is the leader in cloud-based bank operating solutions to the financial services industry. Through its flagship Bank Operating System solution, nCino leverages the power of the Salesforce Platform to provide financial institutions with superior transparency and clarity into their existing loan production pipelines, portfolios and operating efficiencies across all business lines, resulting in increased profitability, productivity gains and regulatory compliance.
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