Banking solutions provider nCino to acquire UK SaaS firm FullCircl in $135m deal

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nCino, Inc. (NASDAQ: NCNO), a top provider of cutting-edge banking solutions, has announced a definitive agreement to acquire UK-based SaaS leader, FullCircl, for $135 million in cash. The move aims to enhance nCino’s offerings in client lifecycle management, onboarding automation, and regulatory compliance. The acquisition is set to bolster nCino’s presence in the UK and across Europe, further integrating FullCircl’s specialized data capabilities. This deal highlights nCino’s commitment to expanding its footprint and investing in innovative solutions that will drive growth and efficiency for financial institutions.

FullCircl, known for its regulatory compliance-driven customer acquisition software, provides financial institutions and regulated companies with tools to automate customer onboarding and boost revenue while streamlining compliance. FullCircl’s platform leverages advanced technology to provide actionable insights and reduce the complexities associated with regulatory requirements, enabling institutions to focus on growing their business. With over 400 customers and 15,000 users, FullCircl’s platform processes over 300 million checks monthly and supports the onboarding of more than 200,000 customers. This strategic acquisition will bring enhanced client lifecycle management capabilities to nCino’s suite of intelligent banking solutions, offering comprehensive end-to-end solutions for financial institutions of all sizes.

Driving Innovation in Financial Services

The two companies first joined forces in 2023, with FullCircl’s data capabilities enhancing the nCino platform’s efficiency in onboarding and regulatory compliance for financial institutions. By combining their expertise, they were able to deliver an integrated solution that streamlined operations, improved data accuracy, and reduced compliance costs for customers. According to Pierre Naudé, Chairman and CEO of nCino, the acquisition represents a “strategic move” to expand nCino’s capabilities and “drive innovation in financial services,” while deepening its footprint in the UK and Europe. Naudé emphasized that the acquisition would allow nCino to deliver more value to its customers by offering a more comprehensive suite of services that address critical pain points in the banking sector.

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Andrew Yates, CEO and co-founder at FullCircl, added that both companies share a vision for enhancing customer experiences while complying with the stringent regulations of the financial sector. He described the acquisition as a natural fit given their alignment in culture, customers, and product offerings. Yates noted that the partnership had already demonstrated significant value for customers, and joining forces under the nCino umbrella would further enhance their ability to deliver cutting-edge solutions that simplify banking processes and drive growth.

The deal, which involves a $135 million cash purchase price, includes a $15 million retention to be held by nCino for two years to guarantee the fulfillment of specific warranties and covenants. This retention is intended to safeguard nCino’s interests and ensure that FullCircl meets all agreed-upon performance metrics. nCino has also indicated it will provide a more detailed financial update in its upcoming third-quarter earnings release, shedding light on how the acquisition will impact its revenue streams and growth trajectory in the near future.

Strengthening the Client Journey

With FullCircl on board, nCino plans to use its new partner’s powerful business rules engine to simplify complex onboarding processes and deliver actionable insights to frontline banking teams. The integration aims to enhance transparency and customer experience at every stage of the client journey, from initial onboarding through to ongoing lifecycle management. By leveraging FullCircl’s advanced data capabilities, nCino aims to provide financial institutions with a more holistic view of their clients, enabling more personalized service and improved risk management.

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According to Yorkshire Building Society’s Jake Brook, the integration of FullCircl’s capabilities with nCino has already begun to bear fruit by improving decision-making speeds and enhancing transparency for borrowers. “Automating client data collection and validation will enhance transparency for borrowers and improve the client journey,” Brook noted. He further explained that the combination of nCino and FullCircl’s technology has enabled his team to process applications more quickly, reduce manual errors, and provide borrowers with greater visibility into the status of their loans. This has led to higher satisfaction levels among clients and improved operational efficiency for Yorkshire Building Society.

Expert Opinions on the Acquisition

Industry experts see this acquisition as a pivotal move in the banking sector’s ongoing digital transformation. Analysts note that by aligning its technology with FullCircl’s compliance-focused onboarding tools, nCino could position itself as a leader in end-to-end client management solutions. “This is an important milestone for nCino,” said financial technology analyst Claire Stevens. “It signals the company’s commitment to addressing both the efficiency and compliance needs of financial institutions while continuing to innovate in a highly regulated space.” Stevens added that the combination of nCino’s established presence in the financial services market and FullCircl’s expertise in compliance-driven onboarding would create a powerful synergy, positioning the merged entity as a dominant player in the SaaS banking technology sector.

The Road Ahead for nCino and FullCircl

The acquisition follows a broader trend in the financial services sector, where consolidation and technological integration are key drivers of growth. The combined capabilities of nCino and FullCircl are expected to streamline operations and improve profitability for banks and credit unions, especially those navigating strict regulatory environments. By offering a unified platform that integrates data-driven insights with automation tools, the companies aim to help financial institutions reduce costs, manage risk more effectively, and enhance their overall competitiveness.

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With over 1,800 clients globally, nCino has a long history of helping banks digitize their processes and replace outdated systems. This acquisition is expected to further its mission of delivering a cohesive banking experience that ties together people, AI, and data to make smarter business decisions. The addition of FullCircl’s capabilities will also enable nCino to expand its presence in key international markets, particularly in Europe, where demand for sophisticated client lifecycle management solutions continues to grow.

Moreover, the acquisition is likely to have a positive impact on nCino’s product development efforts. By integrating FullCircl’s technology into its platform, nCino will be able to offer new features and enhancements that specifically address the challenges faced by financial institutions in today’s rapidly changing regulatory landscape. This includes better tools for managing compliance, more intuitive onboarding processes, and the ability to leverage AI-driven insights to support strategic decision-making. Industry watchers believe that the acquisition will help nCino stay ahead of competitors by offering a more comprehensive and integrated solution that meets the evolving needs of its customers.


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