nCino to Acquire DocFox - Seite 2
"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.