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CIBC selects nCino’s platform to deliver enhanced client experience

By Edlyn Cardoza

January 13, 2022

  • Business Banking
  • Canada
  • Cibc
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nCino, Cloud Banking, Digital Transformation, CIBC, Canada, North American, USA, nCino Bank Operating SystemnCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that CIBC, one of Canada’s Big Six banks, has selected the nCino Bank Operating System to provide CIBC’s Business Banking team with a modern, scalable, and flexible platform to enhance the experience for its Canadian business clients.

Leveraging nCino’s solution, CIBC will improve both the client and employee experience by streamlining complex processes through digitizing and automating the client journey, allowing for a faster, more efficient, and more transparent experience for business owners.

“Financial institutions are being challenged to redesign and tailor an experience that best fits their client base. We believe the nCino platform will enable CIBC to better meet the needs of their business banking clients, while also providing a modern technology experience for their employees,” said Pierre Naudé, CEO at nCino. “We are thrilled to be working with CIBC and look forward to modernizing the banking experience for Canadian business owners.”

“We’re committed to supporting business owners in making their ambitions a reality, and the investments we’re making in digitizing and modernizing the client experience will further add to the value we provide to our business clients,” said David Leuty, Senior Vice-President, Business Banking, CIBC. 

nCino 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 cloud-based platform enhances the employee and client experience to enable financial institutions to more effectively onboard 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 is partnered with more than 1,500 financial institutions of all types and sizes globally.

CIBC is a leading North American financial institution with 11 million personal banking, business, public sector, and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, with offices in the United States and worldwide.

Recently, IBS Intelligence reported that nCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, announced that it had completed its acquisition of SimpleNexus, a leading cloud-based, mobile-first homeownership software company, for total consideration of approximately 12.76 million shares of nCino common stock plus cash consideration of approximately $270 million, on a cash-free, debt-free basis and excluding transaction expenses.

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