Fintech
Fintech Nexus Newsletter (May 30, 2024): nCino Reports Record Revenue for First Quarter
Fintech infrastructure is still hot.
With earnings season wrapping up, we heard from nCino yesterday reported on their first fiscal quarter, which ended April 30.
The company reported revenue of $128 million in the first quarter, up 13% from the same quarter last year.
Demand for its single-platform cloud banking solutions and artificial intelligence offerings remains strong. The company also highlighted its agreement with M&T Bank, which leverages its explainable AI platform for continuous credit monitoring.
nCino expects to make a profit on revenue of about $540 million this year.
In the foreground
> NCino Reports Demand for Cloud Banking and Artificial Intelligence Drives Record Sales
NCino reported Wednesday (May 29) that demand for its single-platform cloud banking solution and artificial intelligence capabilities drove record gross sales in the latest quarter.
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Peter Renton is president and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and is the author and creator of the Individual fintech podcastthe first and longest running fintech interview series.