nCino, a Nasdaq-listed provider of intelligent banking solutions, has acquired Sandbox Banking in a deal valued at $52.5m in cash.
The move also has an additional earn-out opportunity of up to $10m, which will bolster nCino’s ability to streamline banking integrations and enhance data connectivity.
Financial institutions often struggle with time-consuming and expensive integration processes when implementing new products, workflows, or external systems.
With Sandbox Banking’s technology, nCino aims to simplify these challenges by offering an industry-leading Integration Platform as a Service (iPaaS) solution.
This will help banks and credit unions align data across core and ancillary banking systems more efficiently, improving operational workflows and reducing redundancy.
nCino provides cloud-based banking solutions designed to drive digital transformation in financial institutions.
Its technology enhances transparency, reduces inefficiencies, and helps banks and credit unions improve compliance.
Sandbox Banking specialises in building integration solutions that help financial institutions accelerate digital transformation. Its technology supports omnichannel banking experiences, reducing manual processes and increasing operational efficiency. By joining forces with nCino, Sandbox Banking aims to expand its impact and help more financial institutions navigate digital innovation with ease.
Key benefits of the acquisition include accelerated project implementation, enhanced AI-powered integrations, streamlined operations, and reduced manual data entry.
The combined technologies will help financial institutions improve compliance, lower IT costs, and speed up the deployment of new digital services.
Chris Gufford, chief product officer at nCino, said, “We’ve closely partnered with Sandbox Banking for years through many integration projects, so we’ve seen first-hand how this technology layer improves transparency, reduces integration friction, accelerates project timelines, and creates a hub for better data connectivity. Banks and credit unions face critical demands for operational efficiency and regulatory compliance. This acquisition gives nCino a better ability to empower these institutions with a flexible, reliable data environment for greater agility to quickly integrate third-party systems, AI and new technologies without disruptions.”
Ravi Balasubramanian, CEO & co-founder of Sandbox Banking, added, “Today’s financial institutions are navigating complex challenges, from managing siloed data systems to launching tech-enabled products quickly. Our combined resources offer banks and credit unions practical tools to turn these challenges into opportunities for growth and customer delight. By reducing manual workflows and providing a seamless path to digital transformation, nCino and Sandbox Banking are making it simpler for financial institutions to remain agile, scalable, and competitive in the modern market. We’re excited to become a part of nCino and double down on that impact.”
Brian Mulcahey, chief information officer, EVP at Sunflower Bank, said, “Thanks to the integration between nCino and Sandbox Banking, we’ve achieved a new level of operational efficiency. The connectivity between these systems streamlines key processes, reduces the burden on our loan operations team, and minimizes potential errors caused by manual data entry. This empowers us to focus on what matters the most — creating exceptional financial experiences for our customers.”
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