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nCino, the cloud-based banking software as a service (SaaS) provider, has spent nearly a decade developing the software that powers financial institutions. Following its recent IPO, it plans to take its technology into more global markets.

nCino's Bank Operating System® helps financial institutions improve efficiency and scale

nCino's Bank Operating System® helps financial institutions improve efficiency and scale

nCino has seen tremendous development since it was founded in 2011. It has grown from a small company on the East Coast of the United States to become a global pioneer in cloud banking, helping a wide range of financial organisations operate efficiently and cost effectively in an increasingly digital landscape.

We were founded to help financial institutions onboard and service their customers more efficiently using cloud-based solutions that are easy to use, simple to integrate, and able to scale. Our success is positively tied to our customers’ and vice versa.
Pierre Naudé, President and CEO, nCino

With 85% of banks now seeing digital investment as a key priority1, and investment in SaaS in particular expected to increase to US$24bn by 20242, nCino was keen to use an IPO as the next step in its plans for international expansion.

In the middle of planning the right approach to take the company public with Barclays Investment Bank, which acted as lead-bookrunning manager, COVID-19 spread around the world, shaking both businesses and markets. However, thanks to the close, collaborative partnership between Barclays and nCino, and an appetite among investors for opportunities that were ‘pandemic proof,’ interest in nCino was both significant and substantial.

The proof is in the platform

As both a customer and a partner for the IPO, Barclays was in a strong position to help investors understand nCino’s potential to deliver rapid digital transformation at scale. In fact, as the Investment Bank’s deal team prepared for the IPO, Barclays Business Banking division was already utilising nCino’s Bank Operating System to facilitate billions of pounds of loans to businesses across the UK as part of the British Government’s Coronavirus Business Interruption Loan Scheme and Bounce Back Loan Scheme.

In addition to this first-hand understanding of the power and flexibility of nCino’s digital banking platform, there was also a real sense of cultural alignment between the two companies. Barclays fundamentally understood what nCino wanted from its IPO, and was able to help deliver it through senior-level daily meetings and innovative remote roadshows that reached interested investors in unprecedented market circumstances.

Just a few months after its successful IPO, nCino chose to approach the market again with an all secondary follow-on equity offering, substantiating the ongoing investor demand for the company.

We’re proud to have helped nCino take the next steps in its growth, and to have successfully engaged investors with the value of cloud-based technology at a time when the financial services sector is looking to accelerate its digital evolution.
Steven Anderson, Director, Technology Investment Banking, Barclays

1. Ernst & Young LLC, Global Banking Outlook 2018: Pivoting Toward an Innovation-Led Strategy, May 2018
2. IDC, Worldwide Semi Annual Public Cloud Services Spending Guide, 2019H2, June 2020

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