NCNO - How Does the Banking Crisis Impact nCino?
2023-04-02 07:35:00 ET
When a bank collapses, there is always the risk of some kind of contagion. That's because banks make loans to businesses, serve consumers, employ people to work at the bank, and also use a lot of outside vendors and third parties to help them run their day-to-day business and form longer-term strategies.
One of those vendors that works with a lot of banks is the cloud-banking technology company nCino (NASDAQ: NCNO) , which helps banks in multiple capacities -- whether it's through loan origination systems, automating workflows, or providing analytical tools that can help bankers see trends and find opportunities, all of which can help banks increase efficiency.
But with the sector facing significant pressure and challenges after three U.S. banks collapsed in March and Credit Suisse was forced into an acquisition, it's certainly fair to wonder how nCino's business will hold up during this uncertainty. Let's take a look.
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How Does the Banking Crisis Impact nCino?