|Bid||79.41 x 800|
|Ask||82.39 x 1200|
|Day's Range||76.00 - 82.49|
|52 Week Range||66.82 - 91.88|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||87.50|
Bank implements the nCino Bank Operating System® supported by West MonroeWILMINGTON, N.C., Aug. 11, 2020 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO) today announced that $18.2 billion-asset Seattle-based WaFd Bank has deployed the nCino Bank Operating System to increase and digitize its commercial lending efficiency and improve the client experience. WaFd was also able to utilize nCino for SBA loan processing to assist small businesses through the coronavirus pandemic as a result of the platform’s agility. The bank worked with management and technology consulting firm West Monroe to implement nCino’s cloud-based digital platform. To better meet ever-evolving client expectations, WaFd recognized it needed to upgrade its technology, replacing manual processes and disparate systems with a single digital end-to-end platform, which it found in the nCino Bank Operating System. WaFd first selected nCino’s Commercial Banking Solution to overhaul its commercial lending division and nCino’s Customer Engagement Solution to create a client-centric portal that allows WaFd’s bankers to deliver an even better client experience. Once the CARES Act was announced on March 27, the bank added nCino’s SBA Solution, which it used to quickly and efficiently process over 6,500 Paycheck Protection Program (PPP) loan requests from small businesses in its surrounding communities. Because the nCino Bank Operating System seamlessly spans lines of business, the bank was able to adjust quickly to meet various business demands, all while remaining within one connected system and ensuring compliance.“nCino was the first platform I saw that provided the tools our bankers needed to work interactively with our clients,” said Brent Beardall, president and CEO of WaFd Bank. “That digital collaboration became even more important when the COVID-19 pandemic hit. With nCino’s nimble platform, we had the fundamentals we needed to get our clients into the portal and process their application regardless of their location, which was essential in the midst of the coronavirus crisis. The flexibility of nCino’s SBA Solution has allowed us to process over half a billion dollars in PPP loans for new and existing clients, and the fact that we were able to get up and running on it in literally a matter of days is both a phenomenal accomplishment and tribute to the partnership that we have with nCino and West Monroe.”WaFd chose West Monroe as its consulting partner for its nCino implementations due to the firm’s deep expertise in financial services and experience in process optimization, customer experience, and organizational change management. West Monroe’s vast knowledge of the nCino Bank Operating System enabled a swift and effective deployment.“West Monroe welcomed the opportunity to make such a large impact in our local community by working with WaFd Bank,” said John Stockamp, director in West Monroe’s Financial Services practice. “With offices literally across the street from each other in Seattle, we’ve been great partners from the start. And as nCino experts, we were able to get to work immediately, allowing WaFd to respond to the community’s commercial lending needs — fast. We’re proud to work with organizations like WaFd Bank in the communities where we live and work.”“I’m incredibly proud of what WaFd has been able to accomplish for its clients with the nCino platform,” said Paul Clarkson, EVP of community and regional banking at nCino. “Not only have they made lending faster and easier for their commercial clients, they also quickly pivoted amid an unprecedented global pandemic to help small businesses. We very much appreciate our strong relationship with WaFd and West Monroe, and we continue to be impressed by the powerful impact WaFd has on its community.”About nCino 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 1,100 financial institutions globally, whose assets range in size from $30 million to more than $2 trillion. For more information, visit: www.ncino.com.About WaFd Bank Washington Federal Bank (Nasdaq: WAFD), a national bank with headquarters in Seattle, Washington, has 234 branches in eight western states and does business as WaFd Bank. To find out more about WaFd Bank, please visit our website www.wafdbank.com. WaFd Bank uses its website to distribute financial and other material information about the Company.About West Monroe West Monroe is a national consulting firm that was born in technology but built for business—partnering with companies in transformative industries to deliver real, measurable results. Technology is who we are, it is not something we bolted on overnight, and we believe it is one of the greatest enablers of business value. That’s why we work in diverse, multidisciplinary teams that blend industry expertise with deep operational and technology capabilities to create quantifiable, financial value for our clients. Our 1,300 employees based in seven offices across the United States also own 100% of our business, so when you partner with us you know we are committed—because your success is our success. Our undeniably different approach breeds undeniable results. Visit WMP.com to learn more.MEDIA CONTACTS Claire Sandstrom, nCinoNatalia Moose, nCino +1 646.520.0710+1 910.833.0970 firstname.lastname@example.org@ncino.com
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