nCino Acquires Sandbox Banking to Help Financial Institutions Achieve Better Data Alignment and System Interoperability

Core Insights - nCino has acquired Sandbox Banking for $52.5 million in cash, with an additional earn-out opportunity of up to$10 million based on specific financial and product development metrics, enhancing its data connectivity and operational efficiency for financial institutions [4]. Group 1: Acquisition Details - The acquisition of Sandbox Banking strengthens nCino's capabilities in providing an Integration Platform as a Service (iPaaS) solution, which is crucial for enhancing data connectivity and streamlining operations for banks and credit unions [1][2]. - nCino has partnered with Sandbox Banking for years, witnessing firsthand the benefits of their technology in improving transparency and reducing integration friction [3]. Group 2: Benefits of the Acquisition - Financial institutions can expect accelerated deployment of services due to customizable prebuilt integrations and advanced connectivity capabilities, which reduce project implementation timelines [5]. - The integration will provide a library of prebuilt connectors for over 50 industry-leading solutions, enhancing operational efficiency and reducing manual data entry errors [5]. - The acquisition aims to create a single source of truth by connecting data from all systems into one accurate and auditable platform, supporting transparency and regulatory compliance [5]. Group 3: Company Background - nCino is a leading provider of intelligent banking solutions, serving over 1,800 customers globally, including community banks and large financial entities [6]. - Sandbox Banking specializes in digital transformation for financial institutions, offering Glyue®, an iPaaS that connects popular core banking platforms with various industry solutions [7].