nCino Sees Vendor Fatigue as Tailwind for Multi-Solution Growth

In the evolving world of financial services, the growing imperative to modernize infrastructure has created a fertile ground for innovation.

That fertile ground has also created a crowded marketplace of vendors, providers and third parties.

“Vendor consolidation is a key consideration for many of the institutions that we speak with,” said Pierre Naudé, chairman and CEO at cloud banking provider nCino on the company’s third-quarter 2025 earnings call Wednesday (Dec. 4).

The risks of failure across a vendor supply chain can be particularly acute for security-critical businesses, such as financial institutions (FIs).

Still, nCino executives told investors that “over 30” multi-solution deals were closed in the quarter, indicating strong demand for nCino’s own end-to-end banking platform.

“Multi-solution deals continue to show the demand for a true end-to-end platform for financial institutions to onboard customers, open accounts, originate loans and manage the portfolio across multiple business lines,” Naudé said, noting that the company in the most recent quarter could count more gross bookings from net new customers than the previous two quarters combined and counted key customer wins in Australia, Japan and Norway.

“We remain focused on innovation and delivering efficiencies that create real business value, and we’re excited by the strength and expansion we saw in our business this quarter as a result of that reputation,” Naudé added.

During the quarter, nCino completed the acquisition of FullCircl, a move designed to enhance nCino’s onboarding capabilities for financial institutions in EMEA and bolster its client-bank’s compliance processes.

Read more: nCino: International Banks Lag U.S. Peers in Digital Transformation

The Need to Improve Banking Operations and Customer Experiences

The financial industry’s migration to the cloud represents a fundamental shift driven by the need to reduce costs, improve agility and meet customer expectations for easy omnichannel experiences.

Unlike legacy banking systems, which require significant maintenance and manual updates, cloud-based platforms like those solutions provided by nCino are designed to be updated seamlessly, ensuring clients always have access to the latest features and regulatory compliance tools.

Per its materials, nCino’s total revenue for the quarter was $138.8 million, up 14% year over year, with subscription revenue counting for $119.9 million of that, also up 14% year over year.

The company secured Tokushima Taisho Bank as its largest customer in Japan, expanded its relationship with the largest bank in Norway for multiple solutions as well as a multi-solution expansion agreement with a top-40 U.S. bank, signed its first Banking Advisor deal in Australia, and enabled a major U.S. home builder to go live on the nCino Mortgage Solution.

But despite the relative strength of the quarter, the company’s stock is trading down double digits after hours as of reporting, in part due to its softened fourth-quarter guidance.

See also: nCino Unveils AI-Powered Banking Advisor

Multi-solution deals and international expansion are key growth drivers for the company. Within Germany specifically, nCino executives told investors that they may need an acquisition in order to establish a foothold.

PYMNTS Intelligence found that nearly 70% of consumers in the U.S. and Australia would like to have a single app that would allow them to manage their banking, investments and other activities.

For their part, cloud-based banking systems help eliminate the need for expensive, on-premise infrastructure, enabling banks to redirect resources toward customer acquisition and retention. Additionally, automated workflows can reduce manual interventions, speeding up processes like loan approvals and account management.

nCino executives stressed the importance of compliance solutions on Wednesday’s call, noting that “in Europe, this plays very strong because of the international exposure of all the customers there.”

The B2B Payments: Outlook 2030 event hosted by PYMNTS covered many of the emerging expectations that commercial clients of FIs might have around not just their accounts but also their payments.

“Artificial intelligence (AI) is going to be a major game changer for us,” Naudé said. “We’ve been laser-focused on collecting data and getting consent from customers to use that data.”

Related news: Payments Execs Debate Banking’s Transformative Future