nCino Enhances AI-Driven Bank Integrations with Sandbox Banking Acquisition

nCino, Inc. (NCNO), a leading provider of intelligent, best-in-class banking solutions, has announced the acquisition of Sandbox Banking for $52.5 million in cash, subject to customary adjustments, with an additional earn-out opportunity of up to $10 million based on the achievement of certain financial and product development metrics. This strategic move aims to strengthen nCino's ability to enhance data connectivity and streamline operations for banks and credit unions through an industry-leading Integration Platform as a Service (iPaaS) solution.

The acquisition of Sandbox Banking will enable nCino to offer an integration hub that simplifies projects, eliminates redundancies, and seamlessly aligns data across core and ancillary banking systems. This innovative approach will enable financial institutions to rapidly deliver omnichannel experiences for their customers and provide secure, efficient, and cost-effective system interoperability without technical bottlenecks.

Key benefits that financial institutions can expect because of the acquisition include:

1. Accelerated Deployment: Customizable prebuilt integrations and advanced connectivity capabilities will reduce project implementation timelines for faster deployments.
2. Pre-built Adapters and Workflows: A library of prebuilt connectors for core banking platforms and 50+ industry-leading solutions in lending, deposits, CCaaS, CRM, document management, KYC/AML, underwriting, mobile banking, and analytics will simplify integration projects.
3. AI Services: Integration logic generation powered by banking system documentation, existing integrations, cutting-edge LLMs, and retrieval augmented generation (RAG) will save significant integration and API development time.
4. Streamlined Operations: Automated integrations and the elimination of manual data entry will reduce errors and tech debt, leading to more efficient operations.
5. Single Source of Truth: Connected data from all systems into one accurate and auditable platform will support transparency and regulatory requirements.
6. Time and Cost Efficiency: Faster time-to-market for new services and lower IT operational costs will result from the improved integration capabilities.

The purchase price for Sandbox Banking was Fifty-Two Million Five Hundred Thousand Dollars ($52,500,000) in cash, subject to customary adjustments, with an additional earn-out opportunity of up to Ten Million Dollars ($10,000,000) based on the achievement of certain financial and product development metrics.

This acquisition will enable nCino to empower financial institutions with a flexible, reliable data environment, enabling them to quickly integrate third-party systems, AI, and new technologies without disruptions. This will lead to better data alignment, system interoperability, and overall operational efficiency.

In conclusion, the acquisition of Sandbox Banking by nCino will significantly enhance the integration capabilities and efficiency of financial institutions, particularly in terms of data connectivity and system interoperability. This strategic move will enable nCino to offer an integration hub that simplifies projects, eliminates redundancies, and seamlessly aligns data across core and ancillary banking systems. The key benefits, including accelerated deployment, pre-built adapters and workflows, AI services, streamlined operations, a single source of truth, and time and cost efficiency, will empower financial institutions to remain agile, scalable, and competitive in the modern market.