Wells Fargo Selects nCino to Enhance Commercial Banking Lending
Financial services leader with approximately $1.9 trillion in assets will implement the nCino Bank Operating System® to digitally streamline operations
WILMINGTON, N.C., Sept. 01, 2021 (GLOBE NEWSWIRE) -- 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) has selected the nCino Bank Operating System as a foundational technology platform to accelerate its digital transformation within its commercial banking and corporate & investment banking businesses, and to transform its commercial lending operations.
Wells Fargo is a leading financial services company proudly serving one in three U.S. households and more than 10 percent of all middle market companies and small businesses in the U.S. Through its Commercial Banking business, Wells Fargo serves the complex and evolving needs of small, mid-sized, and large commercial and corporate companies with annual sales generally in excess of $5 million. By adopting the nCino Bank Operating System, Wells Fargo gains a flexible and agile, digital solution that manages all aspects of the commercial banking lending process. nCino’s single platform spans business lines, connects employees, clients, and third parties, and eliminates silos within financial institutions to provide a more holistic view of clients, enhance collaboration, generate more loans, and reduce costs.
“Wells Fargo is investing in digital capabilities to improve our clients’ experience and enable our teams to more quickly and effectively serve clients,” said Kyle Hranicky, EVP and Head of Middle Market Banking at Wells Fargo. “nCino offers a best-in-class platform that will help us to continue to meet the evolving needs of our clients.”
The last year has rapidly accelerated many digitization initiatives within financial institutions. nCino’s Commercial Banking Solution provides financial institutions with a seamless end-to-end experience, replacing disparate systems with one digital solution to drive automation and streamline credit processes.
“We are very excited to welcome Wells Fargo, one of the nation’s leading providers of financial services, to the nCino platform,” added Pierre Naudé, CEO at nCino. “Now, more than ever, financial institutions of all sizes require a digital-first, client-centric approach. We look forward to partnering with Wells Fargo on their digital transformation journey and helping drive greater automation, speed and efficiency across their commercial banking operations.”
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 digital platform enhances the employee and client experience to enable financial institutions to more effectively onboard new 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 works with more than 1,200 financial institutions globally, whose assets range in size from $30 million to more than $2 trillion. 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 and proudly serves one in three U.S. households and more than 10% of all middle market companies and small businesses 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. 30 on Fortune’s 2020 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.
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