nCino Acquires Sandbox Banking to Revolutionize System Connectivity
Deal News | Feb 11, 2025 | Globenewswire
nCino, Inc., a leading provider of intelligent banking solutions, has announced its acquisition of Sandbox Banking to enhance data alignment and system interoperability for financial institutions. This acquisition aims to address the challenges of digital transformation typically slowed by costly integration issues. By incorporating Sandbox Banking's Integration Platform as a Service (iPaaS), nCino seeks to facilitate data connectivity and streamline operations for banks and credit unions. The acquisition allows nCino to accelerate project implementation timelines, reduce manual workflows, and provide a single source of truth for connected data systems. The $52.5 million purchase, with an additional $10 million earn-out opportunity, is set to offer financial institutions enhanced operational efficiencies, customer experiences, and compliance capabilities. nCino continues to broaden its transformative role in the financial sector, underpinned by this strategic acquisition.
Sectors
- Financial Technology
- Banking
- Digital Transformation
Geography
- United States – nCino is based in Wilmington, North Carolina, and Sandbox Banking serves numerous North American financial institutions, primarily in the United States.
Industry
- Financial Technology – The core focus of this article is on the use of technology to improve financial services for banks and credit unions through enhanced integration platforms.
- Banking – The article involves solutions catered towards banking institutions, aimed at improving customer experience and operational efficiency.
- Digital Transformation – The fundamental theme of the acquisition is to drive digital transformation in financial institutions by improving data integration and connectivity.
Financials
- $52,500,000 – The purchase price for Sandbox Banking in cash.
- $10,000,000 – An additional earn-out opportunity based on achieving certain metrics.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| nCino, Inc. | Acquirer | Company | nCino is a provider of cloud-based banking solutions aimed at streamlining operational processes and improving customer experiences. |
| Sandbox Banking | Target Company | Company | Sandbox Banking is a digital transformation leader offering a platform that integrates core banking systems with various financial services solutions. |
| Chris Gufford | Spokesperson | Person | Chief Product Officer at nCino, providing insights on how the acquisition strengthens nCino's capabilities. |
| Ravi Balasubramanian | Spokesperson | Person | CEO & Co-founder of Sandbox Banking, discussing the synergistic benefits of the acquisition. |
| Sunflower Bank | Client | Company | A financial institution benefiting from the integration between nCino and Sandbox Banking. |