nCino to Acquire DocFox

Joint capabilities will simplify, automate, and drive efficiency across the onboarding and account opening experience for commercial and business banking

Expands nCino’s solution to help financial institutions unify processes and serve clients end-to-end on a single platform

WILMINGTON, N.C., March 18, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that it has signed a definitive agreement to acquire DocFox, a leading solution provider automating onboarding experiences for commercial and business banking.

DocFox’s technology helps simplify and automate the onboarding and account opening process for commercial and business banking, enabling remarkable client experiences. By integrating into nCino, the combined offering will help enable financial institutions to unify and intelligently manage the entire client lifecycle across information intake, document collection and due-diligence on a single platform, regardless of the entity’s complexity. DocFox has helped institutions condense complicated and admin-intensive onboarding processes from weeks to days or even hours.

“Since day one, nCino was developed to help digitize, automate, and streamline complex processes to create more efficient workflows and better experiences for financial institutions and their clients,” said Pierre Naudé, CEO and Chairman of the Board at nCino. “The acquisition of DocFox extends our existing functionality and will deliver a modern experience to an area of commercial and business banking that has lagged in innovation due to its complexity. We are excited to further extend our single platform vision and look forward to delivering this differentiating solution to financial institutions seeking to optimize onboarding and account opening processes.”

Ryan Canin, DocFox Co-Founder & CEO added, “This is an exciting moment for DocFox. We’re thrilled to join forces with nCino and combine our similar visions, cultures, and commitments to customers and employees, with the goal of delivering technology that provides real solutions to the industry’s most pressing challenges. Our leading onboarding and account opening solution will complement and extend nCino’s single platform to create even greater value for financial institutions seeking to automate and digitize the experiences they provide to employees and clients.”

'Embracing a single, integrated platform, particularly in commercial or business banking, is more than a technological upgrade - it's a strategic imperative,” said James Beckwith, President & CEO, at Five Star Bank. “We are very excited to implement and integrate nCino and DocFox’s technologies as we seek to provide an even faster, more simplified, and efficient experience for our clients. We are also excited for the access to industry-leading talent, resources, and synergies the acquisition of DocFox by nCino will bring to the business customer onboarding and banking solution space. The combination of two key providers in our technology mix will help provide a distinct advantage in the marketplace.” 

DocFox was founded in 2016 and has over 450 customers across three continents.

The acquisition of DocFox is expected to close in March 2024. Keefe, Bruyette & Woods, A Stifel Company served as financial advisor to DocFox and Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal counsel to DocFox. Sidley Austin LLP served as legal counsel to nCino.

About nCino 
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,800 financial services providers globally. For more information, visit www.ncino.com

About DocFox
DocFox is the leading provider of commercial bank account opening software that streamlines and reduces business account opening duration from weeks to hours. DocFox is the only account opening solution that is purpose-built for commercial accounts with the mission to create commercial account opening that banks and their clients love. Founded in 2016, DocFox has over 400 clients with leading institutions across the world.

Media Contacts 
Natalia Moose
press@ncino.com

Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements about nCino’s expectations, plans, future performance, outlook and prospects regarding the benefits that may be derived from the proposed transaction between nCino and DocFox (“DocFox”) including, without limitation, with respect to the benefits of integrating the DocFox technology into the nCino platform, cross and upsell opportunities, and the expansion of the nCino Cloud Banking Platform. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino’s and/or DocFox’s historical performance and their current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements.

These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to, risks related to: (i) changes in economic conditions, (ii) retaining the employees of DocFox, (iii) nCino’s ability to successfully integrate the DocFox business, (iv) the ability to cross-sell the DocFox solution into the nCino customer base, and (v) possible acquisition-related liabilities. Additional risks and uncertainties that could affect nCino’s business and financial results and these forward-looking statements are included in nCino’s reports filed with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.


nCino to Acquire DocFox

THỦ THUẬT HAY

Hướng dẫn đăng xuất Facebook Messenger một cách nhanh nhất

Vậy phải làm sao để đăng xuất Facebook Messenger bây giờ? Có cách nào khắc phục được không? Bởi rất bất tiện khi có ai đó mượn điện thoại của hạn hay bạn đăng nhập Facebook nhờ trên thiết bị của bạn bè mà 'vô tình' bị

Cách thực hiện Clean Boot (khởi động sạch) trên Windows 10 / 8 / 7

Clean Boot State được sử dụng để chẩn đoán và khắc phục các sự cố trên Windows. Nếu máy tính của bạn không thể khởi động bình thường hoặc nếu trong quá trình khởi động mà bạn nhận được thông báo lỗi, khi đó bạn có thể

Cách hạn chế bị tag tên trên Facebook

Mặc định mỗi khi bị gắn thẻ, bài viết ấy sẽ được hiển thị trên trang cá nhân của bạn, và sẽ xuất hiện trên News Feed. Tường nhà bạn có thể sẽ biến thành một trang bán hàng nếu không thường xuyên thực hiện xóa thẻ.

Danh sách link tra điểm kỳ thi THPT Quốc gia 2018 của 63 cụm thi

Địa phương nào chấm xong sớm, có thể gửi kết quả về bộ để đối chiếu. Nếu kết quả chuẩn xác, địa phương đó có thể công bố điểm thi sớm cho thí sinh.

Một số kinh nghiệm nhỏ để tránh bị lừa đảo trên các ứng dụng di động

Ứng dụng di động ngày nay đã trở nên phổ biến và thiết yếu trong cuộc sống hằng ngày của chúng ta. Tuy nhiên, đi cùng với sự phổ biến của các ứng dụng còn có nạn lừa đảo gây mất an toàn thông tin và tiền bạc cho người

ĐÁNH GIÁ NHANH

Cùng là smartphone cao cấp, nên mua iPhone 13 Pro Max hay OPPO Find X3 Pro?

iPhone 13 Pro Max là smartphone cao cấp nhất của Apple, trong khi OPPO Find X3 Pro đứng đầu bảng điện thoại OPPO. Vậy giữa hai siêu phẩm này nên mua iPhone 13 Pro Max hay OPPO Find X3 Pro? Để trả lời câu hỏi này chúng

Nên mua Galaxy S21 Ultra hay đợi Galaxy S22 Ultra ra mắt?

Nếu đúng như lịch trình thì Galaxy S22 series sẽ được trình làng vào đầu năm sau. Thời điểm này nên mua Galaxy S21 Ultra hay đợi Galaxy S22 Ultra?

Đánh giá Isuzu mu-X, SUV 960 triệu nhập khẩu từ Thái Lan

Isuzu mu-X có ngoại hình cơ bắp, động cơ mạnh và bền bỉ, phù hợp với những người muốn chiếc xe tiết kiệm và bền bỉ, không quá đặt nặng vấn đề thương hiệu mà quan tâm đến công năng.