Mechanics & Farmers Bank Using nCinos Cloud Banking Platform to Effectively Deliver on its Mission to Empower Diverse Communities

AGÊNCIA DE COMUNICAÇÃO Conteúdo de responsabilidade da empresa 6 de fevereiro de 2024

nCino, Inc.

Wilmington, N.C., Feb. 06, 2024 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that Mechanics and Farmers Bank (M&F), the second-oldest African American owned bank in the United States, is live on the nCino Cloud Banking Platform. The technology upgrade is helping M&F process loans more quickly and creating increased convenience and connectivity for the underserved markets it intentionally serves.

For 116 years, M&F Bank has been focused on a critical mission; providing access to capital to diverse communities. As a Community Development Financial Institution (CDFI), M&F must serve one or more target markets by designating at least 60 percent of financing activities to one or more low- and moderate-income or underserved communities. Through the partnership with nCino and implementation of its Commercial Banking and Automated Spreading Solutions, M&F can more quickly complete the loan process, while driving a better experience for its customers and associates via a cloud-based and mobile enabled single platform.

Our pursuit at M&F is to reduce the wealth gap by providing access to capital that helps our customers achieve their goals, said James Sills, President, CEO and Board Member at M&F Bank. Were excited to be using nCino, one of the best platforms in the industry, to foster this mission and empower our associates to meet the needs of our customers with excellence. The partnership between M&F and nCino has been terrific, and we look forward to continuing working together to execute on our strategic plan.

Working with nCino has been more than implementing software, added Valerie Scruggs, SVP/CTO on loan from one of M&Fs big bank partners. nCino worked with us from the beginning, ensuring our people were prepared for the transformation and had all the resources and information they needed to succeed with these new tools. True transformation takes a partnership, and thats exactly what we have with the team at nCino.

The partnership we have with M&F Bank is foundational to the transformation the Bank is driving within their operations, said Will Cameron, SVP of U.S. Financial Institutions at nCino. We are proud to provide M&F with the technology platform they need to provide faster and easier access to capital for the communities they serve while strengthening its own performance and becoming more efficient. 

About nCino 
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,800 financial services providers globally. For more information, visit www.ncino.com.    

About M&F Bank
Founded in 1907 in North Carolina, M&F Bank is the second-oldest African American owned bank in the United States. With $446 million in total assets, M&F Bank is the eighth-largest African American owned financial institution in the United States and is the only Community Development Financial Institution (CDFI) and minority-owned bank in North Carolina. The banks mission is to promote personal and community development by providing capital to small- and medium-sized businesses in its local communities. M&F Bank serves thousands of customers and operates eight locations throughout Durham, Raleigh, Greensboro, Winston-Salem and Charlotte. To learn more, visit www.mfbonline.com.

Media Contacts 
Natalia Moose
press@ncino.com 

Safe Harbor Statement 
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words believes, expects, intends, anticipates, plans, seeks, estimates, projects, may, will, could, might, or continues or similar expressions. Any forward-looking statements contained in this press release are based upon nCinos historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCinos expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. Additional risks and uncertainties that could affect nCinos business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC’s web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time. 

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