nCino Acquires Visible Equity to Drive Deeper Insights, Compliance and Advanced Analytics for the Financial Services Industry
Acquisition will accelerate digital transformation and data warehousing efforts for financial institutions worldwide, with an industry-leading cloud-based solution
Jul 16, 2019, 08:30 ET
WILMINGTON, N.C. and SALT LAKE CITY, July 16, 2019 /PRNewswire/ -- nCino, the worldwide leader in cloud banking, today announced that it has acquired Visible Equity, a market-leading financial analytics and compliance software company based in Salt Lake City, Utah. This strategic acquisition leverages the unique strengths and joint synergies of each company to further drive and accelerate transformation in financial services.
Founded in 2008, Visible Equity is a software as a service (SaaS) company that provides portfolio management, analytics and compliance solutions to banks and credit unions. The combination of Visible Equity's advanced analytics software with nCino's best-in-class Bank Operating System brings new functionality and benefits to end users, including:
- Enhanced portfolio management with increased analytical insights across any financial institution's portfolio, drilling down to individual deposits and loans;
- Increased confidence in overall portfolio risk assessment including probability of default and loss-given default models;
- Regulatory compliance combined with state-of-the-art analytics to manage, monitor and comply with fair lending; and
- A comprehensive ALLL/CECL solution that effectively accounts, through robust models, for loan impairment and expected loss, and instantly produces reports and disclosures.
"Visible Equity is a perfect complement to our vision, mission and company culture," said Pierre Naudé, CEO of nCino. "From the very beginning, nCino's mission has been to transform financial services through innovation, reputation and speed, and we believe this acquisition will further enable us to execute on that mission. We're extremely excited to expand the nCino Bank Operating System to provide even more advanced analytics and compliance capabilities to our clients, enabling them to drive greater insights, efficiency and risk management while furthering their customer relationships."
Tara Lathrop, Supervisor of Leadership Support and Innovative Solutions at Corning Credit Union, said, "The industry is changing at a rapid pace and digital transformation and risk management is a continuous journey and challenge. Our members and employees are constantly looking for best-in-class technology, process efficiency, data insights, and risk management tools. These are the reasons why we already partnered with nCino and Visible Equity. Both companies have always had a philosophy of being able to fully support and scale with their clients and this acquisition highlights nCino's vision of being able to offer more to respond to changing industry and client needs. We're very excited about this combination, particularly as we continue to grow and scale as an organization."
"Joining the nCino team is the right move for us and a natural fit," added Brad Hansen, President and CEO of Visible Equity. "We share with them a passion for innovation, a laser-focus on customer success and a commitment to culture. A key driver of our desire to become part of the nCino family is their industry-leading Bank Operating System and ability to support a global client base of enterprise, regional and community financial institutions. We're excited to share our insights and experience and look forward to further transforming financial services together."
While Visible Equity and nCino will continue to offer their products separately to the market, the two platforms will become fully integrated to provide a seamless client and cloud-based experience, as well as an unparalleled portfolio management and regulatory compliance platform.
About nCino
nCino is the worldwide leader in cloud-banking. Its Bank Operating System improves employee efficiency while enhancing the customer experience for onboarding, loans and deposits across all lines of business. Transforming how financial institutions operate through innovation, reputation and speed, nCino works with more than 250 financial institutions globally whose assets range in size from $200 million to $2 trillion. A proven leader, nCino is part of the Forbes Cloud 100 and was named the #1 "Best Fintech to Work For" by American Banker. Follow @nCino or visit www.ncino.com.
About Visible Equity
Visible Equity is a market-leading provider of analytics, data warehousing, and reporting that helps financial institutions identify, measure, and monitor risks and opportunities. With over 850 financial institutions benefiting from their solutions, their software combines loan, application, deposit, marketing, and customer data with advanced analytics to assist each institution in making well-informed, data-driven decisions. Products include Loan Portfolio Analytics, Allowance for Credit Loss (CECL), Application Analytics, Deposit Analytics, Customer/Marketing Analytics, Fair Lending, and Peer Analytics. For more information, visit www.visibleequity.com.
SOURCE nCino
