nCino to Acquire FullCircl in $135M Deal, Enhancing Client Lifecycle and Compliance Capabilities

London, UK – [30 October 2024] – nCino, Inc. (NASDAQ: NCNO), a global leader in intelligent banking solutions, today announced a definitive agreement to acquire UK-based SaaS platform FullCircl for $135 million. FullCircl’s innovative solutions are designed to streamline client onboarding, enhance revenue growth, and improve client lifecycle management for financial institutions and regulated industries by removing regulatory and verification challenges.

Having collaborated since 2023, nCino and FullCircl integrated FullCircl’s advanced data capabilities into the nCino platform, enhancing the speed, efficiency, and compliance of client onboarding for a shared client base, which includes large UK institutions, niche players, and neobanks in the SME sector. This acquisition solidifies their relationship and positions both companies to further optimize client and staff experiences, driving growth and profitability for financial institutions.

Jake Brook, Lending Change Manager at Yorkshire Building Society, commented on the acquisition, stating, “Our relationship with nCino and FullCircl’s combined offering allows us to streamline application processes, accelerate decision-making, and speed up loan completions. Automating client data collection and validation enhances transparency for borrowers and improves the client journey throughout their lifecycle.”

The acquisition will expand nCino’s capabilities in client lifecycle management and onboarding, adding FullCircl’s business rules engine, which simplifies onboarding complexities through pre-contracted premium data sources. This technology offers frontline teams business development tools with access to a comprehensive, connected graph database of company data, including news and insights, financial details, credit scores, risk profiles, and ultimate beneficial ownership.

Pierre Naudé, Chairman and CEO of nCino, expressed enthusiasm for the acquisition: “Bringing FullCircl into nCino is a strategic step forward. This enhances our data and automation strengths, broadening our reach across the UK and Europe with an end-to-end client lifecycle experience. Having worked closely with the FullCircl team, we see immense value in our combined technology to drive innovation in financial services.”

Andrew Yates, CEO and Co-Founder of FullCircl, echoed Naudé’s optimism, “This acquisition is a significant milestone for FullCircl. We’ve long shared alignment with nCino in vision, culture, customers, and market opportunity. Our integration underpins a shared mission to help regulated industries balance compliance with growth, shareholder value, and seamless client experiences.”

The transaction includes a $135 million cash payment, with $15 million retained by nCino as security for warranty and covenant performance over the next two years. nCino plans to provide an update on the acquisition’s financial impact in its upcoming Q3 earnings release.

About nCino:
nCino (NASDAQ: NCNO) provides cloud banking and digital transformation solutions for financial institutions globally. Its platform streamlines banking operations, driving growth, efficiency, and compliance for clients worldwide.

About FullCircl:
FullCircl is a UK-based SaaS platform that enables financial institutions to grow revenue, automate onboarding, and enhance client lifecycle management by addressing regulatory challenges. FullCircl is recognized for its data-rich insights, supporting regulated industries in client acquisition and compliance.