nCino K.K. attracts new investors and names General Manager

By Edil Corneille

nCino, a cloud banking and digital transformation solutions provider for the global financial services industry, announced that Mitsubishi UFJ Capital, the venture capital arm of the Mitsubishi UFJ Financial Group, and SMBC Venture Capital, an affiliate of Sumitomo Mitsui Banking Corporation, have acquired an equity stake in nCino K.K., nCino’s subsidiary in Tokyo. Additionally, Itsuki Nomura, formerly of Dell Technologies, has been named general manager of nCino’s Tokyo office.

nCino partnered with Japan Cloud in 2019 to establish nCino K.K., after previously opening offices in London, Toronto and Sydney, to expand its international presence and help transform the Japanese financial services industry. nCino’s comprehensive, cloud-based platform, the nCino Bank Operating System®, enables financial institutions around the globe to increase profitability, productivity and operational efficiency while improving the employee and client experience. The involvement of Mitsubishi UFJ Capital and SMBC Venture Capital and the addition of Nomura will help nCino further scale its business in Japan as it seeks to accelerate the digital transformation of financial institutions in the country.

Takashi Hasegawa, Managing Director of Mitsubishi UFJ Capital stated, “In this difficult environment amidst the ongoing pandemic, companies need to provide faster funding and digital services, and financial institutions need to be more efficient to meet these needs. We are confident that nCino’s flexible, cloud-based solutions will serve as an infrastructure for financial institutions to adapt to this change and fulfill their mission and client expectations without delay.”

Hironori Shimizu, Managing Director of SMBC Venture Capital added, “Since its founding in the United States at the end of 2011, nCino has been adopted by a wide range of business units, both corporate and individual, at financial institutions of various sizes, from major banks in North America, Europe and Asia Pacific to community and challenger banks. As Japanese financial institutions are exploring ways to adapt, we hope that nCino will apply the best practices it has cultivated with the world’s most advanced banks to drive the digital transformation trend in Japan.”

Nomura added, “The financial services industry, as the engine of the Japanese economy, requires technological systems that allow for speed and agility, particularly now as the world responds to the global pandemic. nCino, as a cloud-based platform, enables financial institutions to attend to their clients wherever they are without requiring face-to-face services. I look forward to helping nCino become an indispensable partner to Japanese financial institutions as they transform the way they do business.”