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Banking & Finance

NCino Ranks In Deloitte’s Technology Fast 500

By Christina Haley O'Neal, posted Nov 14, 2017
Wilmington-headquartered cloud banking company nCino recently ranked for the first time as one of the 500 fastest-growing technology companies in North America.

Deloitte’s Technology Fast 500 ranked nCino on the top half of its list at No. 189, according to a news release. The list ranked the company among the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies -- both public and private -- evaluated between 2013 and 2016.

Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth during that time period, according to Deloitte.

Between 2013-16, nCino grew its fiscal year revenue by 562 percent, according to the release. 

"Our vision from day one has been to be the worldwide leader in cloud banking, and we believe that 2017 in particular has been a true validator of that objective," Pierre Naudé, nCino’s CEO, said in an email. "This year we were consistently recognized for enabling genuine, measurable and future enabling changes at various financial institutions. As such, we now have more than 175 customers that range in size from $200 million to $2 trillion and in multiple countries, including nine of the top 30 U.S. banks."

The company was founded in 2012 as a spinoff of Live Oak Bank. nCino closed 2014 with 95 employees and today, has more than 400 employees, having added more than 150 team members across product development and engineering, customer success, support and other core functions in 2017.

"The majority of our employees are based at our global headquarters, here in Wilmington, N.C. However, we also have a smaller group of remote employees strategically located around the U.S. to best serve and support our customers. Additionally, we recently opened our first European office in London, and have made several key hires there, as well," Naudé said about the employment base.

Naudé attributes the company's growth to its emphasis on collaboration, customer service and innovative problem solving.

“Making such a strong debut on this prestigious list is added validation that what we’re doing in this industry is really special, and it’s working. We believe our achievements in product development, user experience, and customer service are defining the best-in-class standard for banking, and we will continue partnering with the industry’s leading financial institutions to move this standard forward," Naudé said.

This latest industry recognition follows the company's plans for expansion and several other accolades for nCino in 2017.

nCino's announced in late October that the firm will occupy a 40,000 square foot office space in Mayfaire, expanding its Wilmington footprint into three buildings in the Mayfaire area.

In September, nCino earned a spot on the IDC Financial Insights FinTech Rankings, an annual listing of the top 100 technology providers to financial institutions worldwide.

The company recently secured the top position in Aite Group’s global commercial loan origination vendor report, according to the release. And in August, nCino was also ranked on Inc. 500 list of the Fastest-Growing Private Companies in America for the second consecutive year. This year, the company was ranked No. 361 on the list.

nCino’s wide industry acknowledgment can be credited to its Bank Operating System’s ability to flexibly scale and centralize key functions in a single, transparent and secure cloud-based environment, officials said in the release.

Officials said the company continues to broaden the scope of how financial institutions can serve customers in a compliant manner through the platform while gaining new efficiencies to boost their profitability.

While not giving specific guidance on growth projections, Naudé said of the company's future, "We do expect to increase our customer portfolio with additional financial institutions of all sizes, both in the U.S. and abroad. We are also planning to increase our headcount as we continue to expand into more financial institutions. We are focused on primarily expanding our product development and customer success teams and also our international delivery team."
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