nCino to expand partnership with Salesforce to deliver best-in-class cloud solutions
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A pioneer in cloud banking for the global financial services industry, nCino, announced recently that it has decided to expand its partnership with Salesforce, a company that makes cloud-based software designed to help businesses find more prospects.
The goal is for the two firms to speed up their delivery of best-in-class cloud solutions to the financial services sector.
nCino and Salesforce expand their relationship
Salesforce and nCino have been working side by side for over a decade now, after initially establishing a partnership in 2011. Their goal was always to empower financial institutions through digital innovations. Their solutions increased transparency and efficiency of financial institutions, while also reducing various risks. With better solutions, they also ensured that financial institutions gained customer loyalty, which also increased customer growth.
nCino’s chairman and acting CEO, Pierre Naude, commented on the expansion of the partnership with Salesforce. He said that the partnership thus far has allowed nCino to transform the financial services industry. It was able to offer industry-specific solutions that drove efficiency, helped institutions modernize and achieve a more agile future, not to mention that it delivered intelligence.
Given the successes that came out of the two firms’ partnership in the past, nCino is glad to expand its work with Salesforce again, as Naude said. He added that the two firms are committed to utilizing each other’s strengths in order to ensure further benefits for financial institutions of all sizes around the globe.
Salesforce’s executive Vice President for Global Technology Partners, Brian Landsman, also commented on the matter, stating that nCino’s success is a testament to the massive opportunity in front of ISVs building on Salesforce.
We’re thrilled about the next phase of our partnership in financial services with @ncino, a pioneer on the Salesforce platform! https://t.co/OGNJ8EZMU5
— Brian Landsman (@brlands) December 21, 2023
“Salesforce is the world’s #1 AI CRM, trusted by thousands of partners to power purpose-built solutions for highly specialized industries. The expansion of our work with nCino will only accelerate how our customers are reimagining the future of personalized financial services,” he added.
Benefits of the partnership expansion
Now that the two firms are expanding their partnership, as part of their agreement, nCino will deepen its connectivity to Salesforce platform tools. This will include a Financial Services Cloud, as well as CRM, powered by automation and artificial intelligence (AI).
The innovations are meant to empower financial institutions that use nCino and Salesforce to modernize customer experience in certain areas, such as loan origination, onboarding, portfolio management, as well as deposit account opening.
Furthermore, the expansion of the agreement also includes updated commercial terms, which will be able to improve nCino’s subscription gross margins and minimum payment commitments from nCino in the first four fiscal years of the term of the extension. The extension of the agreement will last until 2031, according to the companies.