Sells banks and credit unions a cloud platform for commercial, small-business, consumer and mortgage lending, onboarding and account opening, now priced on the assets of the business lines it supports, with generative AI (Banking Advisor), role-based AI agents (Digital Partners) and AI usage units sold on top.
What is nCino, and which banks use it?
nCino is a Wilmington, North Carolina lending-software company (Nasdaq: NCNO, spun out of a bank in 2011) whose platform runs commercial, consumer and mortgage lending at over 2,700 institutions. Its AI includes the Banking Advisor gen-AI co-pilot (2024) and role-based Digital Partner agents (from November 2025). Among our banks, WaFd uses its Analyst agent, M&T adopted its AI-based credit monitoring and First Horizon tested Banking Advisor. Pricing is not published; nCino charges on the assets of the business lines it supports, plus AI usage units.
Category
Founded
2011
Headquarters
Wilmington, North Carolina, US
Ownership
Public on Nasdaq (NCNO). Spun out of a bank as a separate company in late 2011. In February 2025 it signed a cooperation agreement with investor HMI Capital Management, under which it added Justin Nyweide to its board.[1][5]
Deployment
SaaS (built on the Salesforce Platform, with AWS as a cloud and AI infrastructure layer)
Pricing
Subscriptions priced on the assets of the business lines the platform supports (replacing seat-based pricing from fiscal 2025), plus AI Intelligence Units sold in bundles. · not published
Banks among the 100
3
- nCino ended fiscal 2026 (January 31, 2026) with over 2,700 customers, about 1,500 of them depository institutions; its 10-K names Wells Fargo, Bank of America, TD Bank, Truist, U.S. Bank, WaFd and Eastern Bank among platform customers (a platform, not an AI, relationship).
- Banking Advisor, a conversational generative-AI co-pilot powered by nCino IQ (nIQ), became generally available in June 2024 after a closed-beta Product Design Program; it chats with PDFs such as credit policies, drafts credit-memo narratives and answers policy questions.
- Digital Partners, launched November 2025, are five role-based AI agents (Executive, Analyst, Service, Processor and Client); nCino says the Analyst Digital Partner cuts commercial relationship-review time by 60-70% (vendor-reported, April 2026).
- nCino's 10-K lists Anthropic, AWS, Databricks, Salesforce and Rich Data Co among technology partners integrated in its platform; its mortgage help center says generative-AI models are reached through AWS Bedrock and that no customer data is used to train them.
- Pricing moved from seats to assets: the 10-K describes 'a value-based pricing framework where the subscription fees we charge align with the assets of the line(s) of business supported by nCino', and by Q2 fiscal 2027 more than 230 customers had bought AI Intelligence Units.
- Reversals: a roughly 7% workforce reduction in May 2025, a CEO change in February 2025 (Pierre Naudé to executive chairman, Sean Desmond to CEO), an activist cooperation agreement with HMI Capital, and a cut to its US mortgage revenue forecast in August 2026.
- Revenue was $594.8 million in fiscal 2026 and nCino reported its first GAAP net income ($5.2 million) after losses in every prior year since operations began in late 2011.
What does nCino sell to banks?
| Product | What it does | Status |
|---|---|---|
| Banking Advisor[7][9] | Conversational generative-AI co-pilot for bankers (document chat, credit-memo narrative writing, benchmark questions, document categorization), and the interface through which four of the Digital Partners are reached. | Generally available |
| Digital Partners (Executive, Analyst, Service, Processor, Client)[9][11][10] | Five role-based AI agents built from tools, sub-agents and orchestrated workflows, deployed over the year from November 2025 starting with the Analyst Digital Partner and governed by nCino's Agentic Operating System. | Generally available |
| Analyst Digital Partner[10][12] | AI agent for credit analysts and underwriters: commercial relationship reviews, covenant re-testing via a Credit Risk Manager sub-agent, and mortgage capabilities such as Doc VOI and AUS Smart Tasks. | Generally available |
| Continuous Credit Monitoring[8][1] | Portfolio early-warning and credit-risk monitoring powered by nIQ and Rich Data Co's explainable-AI platform, alongside automated spreading and commercial pricing tools in nCino's commercial banking suite. | Generally available |
| Mortgage MCP (Admin MCP, Loan Officer MCP)[13] | Lets lenders connect MCP-compatible AI agents to the nCino Mortgage Suite, acting within existing permissions with every action logged and optional human confirmation for high-impact actions. | Generally available |
| nCino Mortgage AI tools (Closing Doc Intelligence, AUS Smart Tasks, Mortgage Advisor)[14] | Document and underwriting AI features in nCino Mortgage, run on models reached through AWS Bedrock, including Anthropic's Claude. | Generally available |
How much does nCino cost?
How it is charged: Subscriptions priced on the assets of the business lines the platform supports (replacing seat-based pricing from fiscal 2025), plus AI Intelligence Units sold in bundles..
nCino does not publish a price list.
- nCino's 10-K: it has 'shifted from a seat-based pricing model to a value-based pricing framework where the subscription fees we charge align with the assets of the line(s) of business supported by nCino', an asset-based model introduced in fiscal 2025. No AI price is disclosed. (Jan 31, 2026)[1]
- On its Q2 fiscal 2027 call nCino said more than 230 customers had purchased AI Intelligence Units, that it had begun selling additional units to customers that reached the limits of their initial bundles, and that about 48% of total annual contract value was on platform pricing (as reported by MarketBeat). (Jul 31, 2026)[3]
Pricing is not published; nCino sells through sales-led, multi-year contracts. Its filings describe the model (fees tied to the assets of the supported business lines) and its earnings call describes AI Intelligence Unit bundles, but no price per asset, per unit or per product is public.
Which banks use nCino?
| Bank | What | Status |
|---|---|---|
| WaFd, Inc. | Analyst Digital Partner AI agent for loan-document review, covenant work and credit risk assessment[11][12] | Pilot |
| M&T Bank | Continuous Credit Monitoring powered by Rich Data Co's explainable AI (early-warning credit risk)[8] | Announced |
| First Horizon | Banking Advisor gen-AI co-pilot closed beta (Product Design Program)[7] | Pilot |
Among the 100 largest US banks on this site, from sources that name the bank: the bank, nCino or the press. Status is the furthest stage a source confirms.
What is nCino Platform?
Lending, onboarding and account-opening software built on the Salesforce Platform, with AI 'embedded throughout' in three forms (nCino's words): generative AI for banker workflows, predictive AI for risk and performance insights, and agentic AI through role-based Digital Partners run by its Agentic Operating System.[1][10]
What has nCino done, and when?
- Aug 25, 2026
- Aug 7, 2026
Mortgage MCP released[13]
nCino lets lenders connect MCP-compatible AI agents to the nCino Mortgage Suite through Admin and Loan Officer MCP tools.
- May 13, 2026
nSight 2026: WaFd on stage[11]
At nSight 2026 in Charlotte, WaFd's Jill Boyle describes deploying the Analyst Digital Partner for loan-document review and covenant work; nCino says five Digital Partners are in production.
- Apr 6, 2026
Analyst Digital Partner results[10]
nCino says customers using Analyst Digital Partner cut relationship-review effort by 60-70% and that one enterprise US institution went live in 36 minutes (vendor-reported).
- Nov 4, 2025
Digital Partners launched[9]
nCino launches five role-based AI agents, deployed over the following year starting with the Analyst Digital Partner in November 2025.
- May 27, 2025
About 7% workforce reduction[6]
nCino announces a workforce reduction of approximately 7% and office-space cuts, with $7.5-9.0 million of expected charges.
- Feb 10, 2025
Cooperation agreement with HMI Capital[5]
nCino signs a cooperation agreement with investor HMI Capital Management and, under it, appoints Justin Nyweide to its board.
- Feb 7, 2025
Sandbox Banking acquired[1]
nCino buys Sandbox Banking, now the nCino Integration Gateway, to scale its partner ecosystem.
- Feb 1, 2025
Sean Desmond becomes CEO[4]
Chief product officer Sean Desmond succeeds Pierre Naudé as CEO; Naudé becomes executive chairman.
- Nov 5, 2024
FullCircl acquired[1]
nCino buys FullCircl (Artesian Solutions), an onboarding and customer-lifecycle intelligence platform.
- Jun 17, 2024
Banking Advisor generally available[7]
nCino releases Banking Advisor, a large-language-model co-pilot, after a closed-beta Product Design Program whose participants included First Horizon.
- May 15, 2024
M&T adopts AI credit monitoring[8]
M&T Bank expands its use of nCino with Continuous Credit Monitoring, powered by nIQ and Rich Data Co's explainable-AI platform, for early-warning credit risk across commercial and business-banking portfolios.
- Mar 20, 2024
DocFox acquired[1]
nCino buys DocFox, which automates commercial and business-banking onboarding and account opening.
- Jan 1, 2011
Spun out of a bank[1]
nCino, originally built inside a bank, is spun out as a separate company in late 2011 (exact date not disclosed); its original Salesforce agreement dates from December 2011.
What do banks use nCino for?
| Use | What it does | Status | Use case |
|---|---|---|---|
| Credit analysis and relationship reviews[10][12][1] | The Analyst Digital Partner drafts commercial relationship reviews, re-tests covenants and supports credit risk assessment inside the lending workflow; nCino's commercial suite also includes automated spreading. | In production | Credit scoring & underwriting |
| Banking Advisor co-pilot and Digital Partner agents[7][9][11] | Conversational gen-AI over credit policies and documents, credit-memo drafting, and role-based agents run under nCino's Agentic Operating System. | In production | Generative & agentic AI |
| Continuous credit monitoring[8] | Explainable-AI early-warning models from Rich Data Co, embedded through nIQ, flag credit deterioration across a bank's portfolio. | In production | Model risk management |
| Model access through AWS Bedrock[14] | nCino says its mortgage gen-AI features reach models (including Anthropic's Claude) through AWS Bedrock in its own infrastructure, with no customer data used for training and AI interactions logged for seven years. | In production | Data & privacy |
| Customer-owned agents via MCP[13] | Mortgage MCP lets a lender's own AI agent act inside the nCino Mortgage Suite within existing permissions and audit logging. | Announced | Third-party & vendor AI |
What has nCino disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Customers (company-reported) | over 2,700, about 1,500 of them depository institutions[1] | Jan 31, 2026 |
| Fiscal 2026 revenue | $594.8 million (fiscal 2025: $540.7 million); GAAP net income $5.2 million[1] | Jan 31, 2026 |
| Q2 fiscal 2027 revenue | $161.0 million, up 8% year over year; subscription revenue $143.5 million[2] | Jul 31, 2026 |
| Customers that bought AI Intelligence Units (company-reported) | more than 230[3] | Jul 31, 2026 |
| Relationship-review effort cut with Analyst Digital Partner (vendor-reported) | 60-70%[10] | Apr 6, 2026 |
| Workforce reduction | approximately 7% (May 2025)[6] | May 27, 2025 |
“We're not selling AI tools. We're delivering colleagues. They work 24/7, 365, which means your bankers start every single day at full velocity.”[11]
Chris Gufford · Chief Product Officer, nCino · May 29, 2026
“Admins can connect the AI agent they already use directly into the nCino Mortgage Suite, and it only ever acts within their existing permissions, with every action logged.”[13]
Casey Williams · General Manager of Global Mortgage, nCino · Aug 7, 2026
“We're proud to be participating in nCino's Product Design Program for Banking Advisor, investigating the functionality and providing critical feedback as we explore the potential of incorporating Gen AI into our operations.”[7]
Tyler Craft · SVP and Director of Transformation, Fintech & Emerging Tech, First Horizon Bank · Jun 17, 2024
Who runs nCino?
Which rules apply to a bank using nCino?
| Authority | Why it matters here | Documents |
|---|---|---|
| Federal Reserve | Credit-monitoring models and agents that draft credit reviews are vendor models under SR 26-2, and nCino, which runs a bank's loan origination, is a critical third party under SR 23-4. | SR 26-2 SR 23-4 |
| OCC | An OCC-supervised bank using nCino's AI for credit analysis must validate and monitor those vendor models (OCC Bulletin 2026-13) and manage nCino and its sub-processors (Salesforce, AWS, Anthropic via Bedrock) under OCC Bulletin 2023-17. | OCC Bulletin 2026-13 OCC Bulletin 2023-17 |
| CFPB | Where nCino's AI feeds consumer or small-business credit decisions, the bank still owes ECOA/Regulation B adverse-action reasons; an agent-drafted credit memo does not change who is responsible for them. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) |
| EU AI Act | nCino sells outside the US (its 10-K names Barclays and Santander among customers); AI used to assess the creditworthiness of individuals is a high-risk use under the EU AI Act, which bears on banks deploying nCino's consumer-lending AI in the EU. | Regulation (EU) 2024/1689 |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness.
What should a bank note before buying nCino?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice or a recommendation.
01
Most performance figures are nCino's own
The 60-70% cut in relationship-review effort and the 36-minute deployment come from nCino's releases and customer interviews, not an independent study.
02
Bank-page evidence is early-stage
WaFd's use of the Analyst Digital Partner is described by nCino as a pilot that is 'just getting started', First Horizon's role was a 2024 closed beta, and M&T's 2024 adoption of AI credit monitoring has no later public update.
03
AI is sold as usage units on top of asset-based pricing
Pricing is not published. The 10-K ties subscription fees to the assets of supported business lines, and nCino's Q2 fiscal 2027 call described AI Intelligence Unit bundles that some customers have already exhausted.
04
The AI stack runs on other companies' platforms
nCino's platform is built on Salesforce, and its gen-AI features reach models such as Anthropic's Claude through AWS Bedrock, so a bank's third-party review extends to those providers.
05
Platform customers are not AI customers
The 10-K names Wells Fargo, Bank of America, Truist, U.S. Bank and others as platform customers, but no public source ties most of them to nCino's AI features.
What are the alternatives to nCino?
Fiserv
Core, card and payments provider adding AI to its platforms: agentOS agents for bank workflows, AI card-fraud decisioning.
FIS
Core, digital and card-processing provider adding AI agents (an Anthropic-built AML agent), AI card-fraud tools and AI lending tools.
Jack Henry
Core, digital (Banno), payments and fraud platforms for community banks and credit unions, adding AI via Google Cloud's Gemini.
Q2
Digital banking, fraud (Centrix) and relationship-pricing platform for US banks, with an AI agent layer (Q2 Assistant) and ML fraud models.
Temenos
Swiss core, digital, payments and wealth banking software with embedded AI copilots, a sanctions-screening AI agent and explainable AI.
Backbase
AI-native Banking OS layered over a bank's core for channels, staff and AI agents; owns Kasisto's conversational AI since June 2026.
Alkami
Digital banking, account opening (MANTL) and data-marketing platform for US banks and credit unions, with predictive AI models.
How much does nCino cost?
nCino does not publish prices. Its 10-K says it moved from seat-based pricing to fees tied to the assets of the business lines the platform supports, introduced in fiscal 2025. On top of that it sells AI Intelligence Units: more than 230 customers had bought them by July 2026, and some had used up their initial bundles and bought more. No per-asset or per-unit price is public.
Which banks use nCino's AI?
Among the 100 US banks tracked here, WaFd is piloting nCino's Analyst Digital Partner for loan-document review, covenant work and credit risk. M&T Bank adopted nCino's Continuous Credit Monitoring, powered by Rich Data Co's explainable AI, in 2024. First Horizon took part in the 2024 closed beta of Banking Advisor. Other large banks use nCino's platform, but no public source ties them to its AI.
What is nCino Banking Advisor?
Banking Advisor is nCino's conversational generative-AI co-pilot, generally available since June 2024. Bankers can chat with documents such as credit policies, have it draft credit-memo narratives, ask for industry benchmarks and upload documents it categorizes. Since November 2025 it is also the interface for four of nCino's role-based AI agents, the Digital Partners.
What are nCino Digital Partners?
Digital Partners are five role-based AI agents nCino launched in November 2025: Executive, Analyst, Service, Processor and Client. They are built from tools, sub-agents and orchestrated workflows and governed by nCino's Agentic Operating System. The Analyst Digital Partner, for credit analysts and underwriters, came first; nCino says it cuts relationship-review effort by 60-70%.
Who owns nCino?
nCino is a public company listed on Nasdaq (NCNO), headquartered in Wilmington, North Carolina. It was spun out of a bank as a separate company in late 2011. In February 2025 it signed a cooperation agreement with investor HMI Capital Management, and Sean Desmond replaced Pierre Naudé as CEO.
Does nCino train AI models on bank data?
For its mortgage gen-AI tools, nCino says no customer data is used to train AI models, including by providers such as Anthropic and AWS. It says models are reached through AWS Bedrock in its own infrastructure, each institution's data is isolated, and AI interactions are logged for seven years. That statement comes from nCino's help center, not an independent audit.
- nCino, Inc. Form 10-K for the fiscal year ended January 31, 2026
- nCino Reports Second Quarter Fiscal Year 2027 Financial Results (Exhibit 99.1)
- nCino Q2 Earnings Call Highlights
- nCino, Inc. Form 8-K (Item 5.02): Sean Desmond appointed Chief Executive Officer
- nCino, Inc. Form 8-K (Item 1.01): Cooperation Agreement with HMI Capital Management
- nCino, Inc. Form 8-K (Item 2.05): Workforce reduction
- nCino Deploying Banking Advisor, a Generative AI Solution to Drive New Efficiencies in Financial Institutions
- M&T Bank Expands Use of nCino with Adoption of Continuous Credit Monitoring Solution Powered by Rich Data Co's Explainable AI Platform
- nCino Introduces "Digital Partners," Role-based Agents Purpose-built to Establish a Dual Workforce for Financial Services
- nCino Analyst Digital Partner Cuts Commercial Relationship Review Time by Up to 70%, Enabling Financial Institutions to Build an AI-Augmented Credit Workforce
- nSight 2026 Recap: AI in Banking Moves from Strategy to Delivery
- How AI in Commercial Lending Cuts the Two-Day Review
- nCino Releases Mortgage MCP, Letting Lenders Connect AI Agents Directly to the nCino Mortgage Suite
- nCino Mortgage AI Tools – Data Privacy & Security Overview
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