Banking technology vendor nCino has struck a definitive agreement to acquire UK-based SaaS regtech platform FullCircl for $135 million in cash.
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FullCircl’s platform is designed to remove the regulatory and verification roadblocks that make it harder for regulated companies, including financial institutions, to identify, acquire, verify, onboard and retain clients.
The company clams more than 500 clients, including NatWest, Allica Bank, American Express, Metro Bank and Solaris.
In 2023, it formed a partnership with nCino to bring its data capabilities into the US firm’s platform to improve the speed, efficiency, and compliance with which financial institutions acquire, onboard, and serve clients.
Now, nCino is buying FullCircl, boosting its presence in the UK and Europe and growing its automation capabilities.
Pierre Naudé, CEO, nCino, says: “Having worked closely with the FullCircl team for some time now, we recognised the value our joint technology can deliver, and this acquisition marks an exciting step forward in our mission of driving innovation and powering a new era in financial services.”
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