Finovate Alumni News

On Finovate.com

  • Bill.com Wins New Partner and Strategic Investor in JP Morgan Chase.

Around the web

  • Xceptor appoints former IHS Markit executive Todd Rudley as Sales Director for North America.
  • Gulf Coast Bank & Trust ($1.6 billion in assets) goes live with Banking Operating System from nCino.
  • Ohpen acquires core banking system implementation consulting company, FYNN Advice.
  • Appetite for Disruption podcast interviews Nvstr co-founders Patrick Aber and Bernard George.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Talks: The Conversation Continues

Today at FinovateFall, we continued to speak to some of our key speakers about the hottest topics that we have been discussing over this year’s event. Here, Nathan Snell, Chief Innovation Officer at nCino stresses the importance of customer experience and how the “innovation journey” can be improved when he spoke to Julie Muhn, Finovate Research Analyst at the conference.

Watch more interviews here:

 

Finovate Talks: Creating the Foundations for Financial Literacy

Ederick Lokpez, Director Engagement Strategy, Customer Experience Office, U.S. Bank

Watch here >>

 

Finovate Talks: RegTech – Innovation vs. the Regulation Regime

Joanne Barefoot, CEO at Barefoot Innovation Group

Watch here >> 

 

Finovate Talks: RegTech – Tech or Die

Pascal Bouvier, Fintech Venture Investor & Thought Leader

Watch here >>

 

How Can Banks with Older Core Systems Take Advantage of Fintech Innovation?

Oded Shoshany, CEO at CelerityFinTech

Watch here >>

 

Investing with a Difference: How To Stand Out From the Crowd

Ross Baird, CEO, Village Capital

Watch here >>

 

Top Tips for Startups To Stand Out Within Incubators

Matt Armstead, Executive Director, Fintech71

Watch here >>

 

Finovate Alumni News

On Finovate.com

  • Unison Leverages Institutional Investors to Help Home Buyers Bridge Affordability Gap.
  • Fiserv Wins Trio of New Credit Union Partners.

Around the web

  • Temenos unveils new online learning platform, Temenos Learning Community.
  • Service Credit Union (SCU) with $3 billion in assets to deploy nCino’s Bank Operating System.
  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

12 Alums Earn Their Place on Inc. 5000 List

Inc. released its lists of the fastest-growing 5,000 private companies in the U.S. and Europe this week. Eight Finovate alums made the U.S. list and four earned spots on the Europe list. To qualify*, companies were required to be privately-owned and independent.

Inc. 5,000 U.S.

Overall in the U.S., financial services companies saw a 151% growth rate, while IT services experienced 112% growth, security 171% growth, and software grew 134%. Out of the 5,000 companies listed in 28 industries, here are the eight Finovate alums that earned their place on the list:

Alkami Technology

  • Rank: 176
  • 2016 revenue: $11.9 million
  • 3-year growth: 24x
  • Founded: 2009
  • Employees: 192
  • Ranked number 11 in top software companies, number 8 in top Dallas companies, and number 13 in top Texas companies.

Alkami debuted under the name iThryv at FinovateSpring 2009 in San Francisco.

nCino

  • Rank: 361
  • 2016 revenue: $26.1 million
  • 3-year growth: 12.2x
  • Founded: 2012
  • Employees: 273
  • Ranked number 24 in top software companies and number 10 in top North Carolina companies.

nCino debuted its bank operating system at FinovateEurope 2017 in London.

Tango Card

  • Rank: 373
  • 2016 revenue: $10.6 million
  • 3-year growth: 11.6x
  • Founded: 2009
  • Employees: 57
  • Ranked number six in top Seattle companies and number six in top Washington companies.

Tango Card debuted its Rewards as a Service API at FinovateFall 2016 in New York.

Kabbage

  • Rank: 449
  • 2016 revenue: $172 million
  • 3-year growth: 9.8x
  • Founded: 2009
  • Employees: 325
  • Ranked number 24 in top financial services companies, number 14 in top Atlanta companies, and number 16 in top Georgia companies.

At FinovateSpring 2015, Kabbage debuted the Kabbage Card. Kathryn Petralia, the company’s President, Chief Operating Officer and Co-Founder, will be featured on our Digital Lending Summit panel on September 13. Register today to save your spot.

Lighter Capital

  • Rank: 634
  • 2016 revenue: $6.4 million
  • 3-year growth: 7.1x
  • Founded: 2010
  • Employees: 36
  • Ranked number 10 in top Seattle companies and number 11 in top Washington companies.

Lighter Capital debuted its Next-Generation Loan Analysis & Monitoring at FinovateFall 2013 in New York.

defi SOLUTIONS

  • Rank: 771
  • 2016 revenue: $11.4 million
  • 3-year growth: 5.9x
  • Founded: 2012
  • Employees: 59

defi SOLUTIONS showcased its loan origination solution at FinovateSpring 2014.

Cardlytics

  • Rank: 1069
  • 2016 revenue: $112.8 million
  • 3-year growth: 4x
  • Founded: 2008
  • Employees: 325

At FinovateFall 2013, Cardlytics showcased its geolocation application.

Payoneer

  • Rank: 1912
  • 2016 revenue: $100 million to $500 million
  • 3-year growth: 2x
  • Founded: 2005
  • Employees: 100 to 249
  • Is a five-time Inc. 5,000 honoree
  • Awarded as a Best Place to Work

Payoneer showcased its Commercial Account at FinovateAsia 2013.

Inc. 5,000 Europe

This is Inc’s third annual ranking of private companies in Europe, based on three-year revenue growth. In its analysis, Inc. ranked Paris, Romania, Sweden, Slovakia, and London as the top five regions with the highest number of fastest growing companies in Europe. Four Finovate alums landed on Inc.’s Europe list this year:

True Potential

  • Rank: 900
  • 2015 revenue: $52.6 million (€44.9 million)
  • 3-year growth: 6.9x
  • Founded 2010
  • Employees: 29

True Potential demonstrated impulseSave at FinovateFall 2014

Zopa

  • Rank: 909
  • 2015 revenue: $32.9 million (€28.1 million)
  • 3-year growth: 6.9x
  • Founded: 2004
  • Employees: 111

Zopa showcased its P2P lending platform at FinovateSpring 2008.

Fidor Bank AG

  • Rank: 4413
  • 2015 revenue: $35.5 million (€30.3 million)
  • 3-year growth: 2x
  • Employees: 148

At FinovateEurope 2011, Fidor Bank demonstrated its Fidor Pay account.

Truphone

  • Rank: 4183
  • 2015 revenue: $42.9 million (€36.6 million)
  • 3-year growth: 2.9x
  • Founded: 2001
  • Employees: 522

Truphone showed off Truphone Mobile Recording at FinovateEurope 2014.


*Other qualifying criteria include

  • Have started earning revenue by March 31st, 2013
  • Had revenue no less than $100,000 in 2013
  • Had revenue no less than $2,000,000 in 2016
  • Revenue in 2016 exceeds revenue in 2013

nCino Inks 100th Customer in Pacific Western Bank

With all due respects to customers #99 and #101-to-be, congratulations to $21 billion asset Pacific Western Bank for being the 100th FI to deploy the Bank Operating System developed by cloud-banking innovator, nCino. Mark Christian, Operations and Systems Group EVP for Pacific Western credited the relationship between nCino and the bank’s Square 1 division for helping turn the firm into a customer. “The nCino team is knowledgeable, innovative, and responsive,” Christian said, “which combine to make them a valuable new partner to our enterprise.”

nCino EVP of Sales for the Americas Josh Glover pointed to the scalability, security, and cloud-based technology of the company’s solution as reasons why more and more banks like Pacific Western are choosing nCino’s Bank Operating System. “(The technology) will allow the bank to continue to grow efficiently without compromising credit quality or the overall borrower experience,” Glover said.

Built on Salesforce.com, nCino’s Bank Operating System gives banks the ability to centralize data and reporting across divisions on a single, unified platform. The technology combines a number of key services – from CRM, loan origination, workflow, content and business process management to customer engagement and instant reporting – in one secure location, improving both oversight and visibility. “With nCino, your customers get a transparent, digitally-optimized process, quick access to capital, and a true valued long-term relationship with your financial institution,” CMO Jonathan Rowe said during the company’s live demo at FinovateEurope earlier this year. He added, “(And) financial institutions achieve increased loan growth while lowering costs and increasing productivity and maintaining the highest levels of safety and soundness.”

Founded in 2012 and headquartered in Wilmington, North Carolina, nCino demonstrated its Bank Operating System at FinovateEurope 2017. The company recorded its first European customer last month when U.K.-based OakNorth Bank announced it would deploy nCino’s platform. Also in June, nCino expanded the credit analysis functionality of its solution, streamlining the underwriting process for customers. The company announced partnerships with Great Southern Bank and CrossFirst Bank in May, with North State Bank in April, and with Valley National Bank in March. nCino has raised more than $79 million in funding and includes Insight Venture Partners, Salesforce Ventures, and Wellington Management among its investors. Pierre Naudé is CEO.

Finovate Alumni News

On Finovate.com

  • Personal Capital Extends Series E Round by $40 Million.
  • Conversational AI Comes to USAA Courtesy of Clinc.
  • nCino Inks 100th Customer in Pacific Western Bank.

Around the web

  • Actiance Introduces First Compliance and Archiving Solution for WeChat and WhatsApp.
  • Xero expands Stripe partnership for automated reconciliation.
  • DBS, Xero unveil bank feed integration for SMEs.
  • ICT solution provider Telindus announces integration into the Ripple network.
  • LeanXcale earns a spot in the DB-Engines Ranking of relational and NoSQL database management systems
  • BioCatch granted patent for technology that detects remote access tools in order to spot malicious behavior.
  • Flybits launches new Experience Studio, announces partnership with Bouygues Energies & Services.
  • Wipro opens new Silicon Valley Innovation Center in Mountain View, California.
  • Micronotes partners with TimeTrade to bridge the clicks-to-bricks divide.
  • Credit Union CEOs Move 5 Millionth Member to Insuritas.
  • Gro Solutions to relocate its headquarters to Midtown Atlanta.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • PayPal Makes Strategic Investment in Online Lender, LendUp.
  • Summit View: Trends and Challenges for Digital Lenders.

Around the web

  • OakNorth Bank is first European FI to deploy nCino’s Bank Operating System.
  • Avoka opens new office in Germany to support German-speaking banks in the DACH region.
  • IDology unveils ExpectID Call Verification to help fight call center fraud.
  • Klarna teams up with Knomo to give new purchase options to Knomo shoppers.
  • Bill.com announces deeper integration with Intuit’s QuickBooks.
  • DefenseStorm readies for July webinar on cybersecurity for financial services.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Daon Adds EyePrint ID to IdentityX Platform Courtesy of New Partnership with EyeVerify.
  • Advisor Software Launches Myers-Briggs-Like Investment Risk Assessment Tool.

Around the web

  • American Banker covers Lending Club’s first securitization
  • InComm honored with two Best in Category awards at the 2017 Pay Awards.
  • Bankless Times features Arroweye’s targeted marketing campaigns.
  • Actiance announces Compliance Integration for Cisco Spark.
  • Currencycloud and Hyundai Card partner to launch Korea’s first mobile remittance service provided by a credit company.
  • Bazaarvoice adds 170 new jobs.
  • nCino expands Credit Analysis Capabilities to Give Financial Institutions’ Underwriting a Boost.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

On FinDEVr.com

  • Check out our latest FinDEVr Previews featuring ISARA and eSignLive by VASCO.

Around the web

  • TransferWise introduces multi-currency bank accounts for businesses.
  • Langley FCU to deploy Episys core system from Jack Henry & Associates’ Symitar division.
  • Great Southern Bank selects cloud banking technology from nCino.
  • getAbstract and CREALOGIX enter into a digital learning partnership.
  • InComm partners with Sony to deliver gift cards in Hong Kong.
  • NIIT Technologies partners with AI company Arago.
  • AutoGravity receives the 2017 North American Frost & Sullivan Entrepreneurial Company of the Year Award.
  • Fiserv launches SecureNow to integrate cybersecurity protection for digital banking.
  • Finextra: ABN Amro selects Fenergo to support KYC.
  • Yandex.Money brings Android Pay to Russia.
  • Misys FusionBanking Essence to power online and mobile banking offering for Crnogorska Komercijalna Banka (CKB).
  • Trustly to power online bank payments at leading online fashion retailer Boozt.com

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

nCino Helps FIs Benefit from Cloud Banking

nCino_homepage_April2017b

What makes the nCino Bank Operating System the cloud banking solution of choice for a growing number of financial institutions (including “more than 130 FIs of all asset classes and from multiple countries” in the words of nCino CMO Jonathan Rowe)?

As Rowe said during nCino’s live demonstration at FinovateEurope 2017 earlier this year, “with nCino your customers get a transparent, digitally-optimized process, quick access to capital, and a true valued long-term relationship with your financial institution.” And for financial institutions themselves, he added, nCino brings increased loan growth “while lowering costs and increasing productivity and maintaining the highest levels of safety and soundness.”

Pictured (left to right): Jonathan Rowe (Chief Marketing Officer), Trisha Price (EVP, Product Development & Engineering), and  Nathan Snell (Chief Innovation Officer) demonstrating the nCino Bank Operating System at FinovateEurope 2017.

nCino used the example of a bank loan to demonstrate some of the features of the nCino Bank Operating System. Along with Product Development & Engineering EVP Trisha Price and Chief Innovation Officer Nathan Snell, the nCino team showed how a customer could apply for a small business loan using their smartphone, and get an instant real-time decision from the technology’s automated decisioning engine. The demo also showed how the platform provided workarounds like an automated counter offer when an applicant requested a loan amount that was too large. The technology also enables the customer to capture and upload images of documents like financial statements to help customers make the case for a larger loan.

On the bank’s side, the nCino team showed how the platform’s auto decision engine processed online loan applications and can be configured to match the FI’s own credit policies.  And by leveraging both the OCR and AI built into the nCino platform, bank professionals are able to quickly do deeper dives into applicant financials to find opportunities for funding that might have otherwise gone unfunded or cost the borrower more. “This is how banking and technology should work, and does work with nCino,” Rowe said, reminding the audience that nCino’s technology supports not just commercial banking, but also treasury management, and retail and consumer banking, as well.

Since nCino’s Finovate debut in February, the company has announced new enhancements to its platform that make it easier to serve small business borrowers. Named to Planet Compliance’s RegTech Top 100 Power List this spring, nCino partnered with North State Bank in April and teamed up with Valley National Bank in March to power commercial loan operations at both institutions.

Company Facts

  • Founded in 2012
  • Headquartered in Wilmington, North Carolina
  • Raised more than $79 million in capital
  • Works with more than 130 clients
  • Maintains more than 275 employees

We met with the nCino team in London to talk about the company’s debut at FinovateEurope. We followed up with a few questions by e-mail for Nathan Snell, nCino’s Chief Innovation Officer. His responses are below.

Finovate: What problem does your technology solve?

Nathan Snell: nCino is the worldwide leader in cloud banking. Its Bank Operating System, built on the Salesforce platform, enables financial institutions to deliver the speed and digital experience that customers expect, backed by the quality and transparency that bankers need.

nCino’s Bank Operating System acts as a financial institution’s single source of truth, eliminating the need for multiple, disparate software systems by combining customer relationship management (CRM), loan origination, workflow, enterprise content management, business processing and instant reporting all in one secure, cloud-based environment. Sitting alongside the bank’s core, nCino’s Bank Operating System drives increased profitability, productivity gains, regulatory compliance and operating transparency across all business channels and organizational levels. The platform facilitates a seamless and secure interaction between bank employees, customers and other third parties, providing bankers with an efficient and configurable way to digitally operate their institution.

Finovate: Who are your primary customers?

Snell: nCino’s client portfolio consists of more than 130 financial institutions in North America and Europe. Our customers span all asset classes – from $150 million in assets to over $200 billion – and include community and regional banks, credit unions, challenger banks and large enterprise institutions. Because of the flexible and scalable nature of our platform, the Bank Operating System is customizable for any size organization.

Pictured: The nCino Bank Operating System environments displayed on a laptop, a tablet, and a smartphone.

Finovate: How does your technology solve the problem better?

Snell: The nCino Bank Operating System is a comprehensive, end-to-end, cloud-based solution that offers a single platform across all lines of business (commercial, small business, retail), distinguishing us in a market category of our own. nCino was built from day one as an integrated solution on Salesforce’s Force.com platform, the world’s leading cloud computing platform.  Because of how we’ve built the nCino Bank Operating System, it’s also one of the first times a financial institution has a platform that can respond, in a configurable way, to their business needs as quickly as they come up as opposed to being constrained by their platform. While there are other companies that may offer point solutions or software systems that provide certain aspects of our technology, none combine our full spectrum of features and functionality into one cohesive offering.

Designed by bankers who understand the nuances of the marketplace, nCino revolutionizes the way financial institutions operate, helping them regain their competitive advantage and beat alternative lenders at their own game, while simultaneously satisfying customers’ demand for superior service in the digital era.

Finovate: Tell us about your favorite implementation.

Snell: It’s hard to pick a favorite implementation as they are all important; however, one that stands out is our successful implementation last year at SunTrust, a $205 billion-asset institution and a top 10 bank in the U.S. The implementation at SunTrust was a truly collaborative effort consisting of a multi-layered, multifunctional program team that included not only nCino, but also a system integration team from Accenture, and a large operational and technology team from SunTrust.

In less than 18 months, the nCino Bank Operating System was deployed to thousands of SunTrust teammates across sales, risk and lending operations. When asked about the process, Pam Kilday, head of operations for SunTrust, said, “This has been one of the finest implementations that we have had at SunTrust. We are now being looked at as a model of best practices to implement something of this range at SunTrust.”

Pictured: The automated decision engine of the nCino Bank Operating System.

Finovate: What in your background gave you the confidence to tackle this challenge?

Snell: Because nCino was designed specifically by bankers who understand both the challenges and opportunities in the marketplace, nCino is uniquely qualified to deliver a solution that best addresses a financial institution’s needs. In today’s environment, bankers are expected to do more with less, manage regulation, ensure data security, digitally engage with customers to foster stronger relationships, and deliver increased profit to shareholders. And, as customer demands and expectations rapidly evolve and non-traditional third parties enter the scene, the financial services industry is more competitive than ever before. nCino’s Bank Operating System enables a financial institution to improve efficiency, productivity and compliance across numerous departments and business lines, all while creating a more transparent and digitally engaging experience for customers.

Finovate: What are some upcoming initiatives from nCino that we can look forward to over the next few months?

Snell: This year, we’ll continue to expand the scope of the Bank Operating System. In 2016 alone, we added new functionality such as deposit account opening and automated decisioning that extended the platform to other areas of the bank – and that’s just the beginning. With additional functionality across small business lending and retail already in the pipeline, nCino continues to develop technology to help financial institutions save costs and increase productivity while simultaneously protecting their market share against emerging marketplace lenders.

There’s really so much opportunity in the financial services space today, that even beyond the next few months, we have quite a few exciting things planned that we believe will continue to help shape the landscape of banking.

Finovate: Where do you see nCino a year or two from now?

Snell: Over the past five years, we’ve experienced significant growth in our customer portfolio, technology roadmap and employee base – and we expect that growth to continue into the next year and beyond. We look forward to expanding our international presence in the U.K. and Europe, adding fresh talent to our workforce and introducing new and exciting functionality to our Bank Operating System as it touches additional areas of the financial institution.


Trisha Price (EVP, Product Development & Engineering), Nathan Snell (Chief Innovation Office), and Jonathan Rowe (Chief Marketing Officer) demonstrating the nCino Bank Operating System at FinovateEurope 2017.