Intelligent banking solutions provider nCino has acquired digital transformation company Sandbox Banking in a deal valued at $52.5m.
The transaction also has an additional earn-out potential of up to $10m based on financial and product development milestones.
Through the acquisition, nCino aims to strengthen its ability to improve data connectivity and optimise operations for banks and credit unions through an integration platform as a service (iPaaS) solution.
Sandbox Banking offers banks and credit unions with Glyue, an advanced iPaaS designed specifically for financial institutions.
Glyue enables seamless connectivity between more than 14 core banking platforms and over 50 solutions, including those for lending, deposits, CCaaS, CRM, document management, KYC/AML, underwriting, mobile banking, and analytics.
Sandbox Banking CEO and co-founder Ravi Balasubramanian said: “By reducing manual workflows and providing a seamless path to digital transformation, nCino and Sandbox Banking are making it simpler for financial institutions to remain agile, scalable, and competitive in the modern market.”
By incorporating Sandbox Banking’s technology, nCino will offer an integration hub designed to simplify digital transformation projects, reduce redundancies, and enhance data alignment across core and ancillary banking systems.
The addition of Sandbox Banking’s capabilities will provide banks with benefits, including accelerated deployment, pre-built adapters and workflows, artificial intelligence (AI)-driven integration logic, and enhanced operational efficiency.
The platform will also enable financial institutions to automate integrations, minimise manual data entry errors, and establish a unified source of accurate and auditable data.
nCino chief product officer Chris Gufford said: “Banks and credit unions face critical demands for operational efficiency and regulatory compliance.
“This acquisition gives nCino a better ability to empower these institutions with a flexible, reliable data environment for greater agility to quickly integrate third-party systems, AI and new technologies without disruptions.”
The acquisition follows nCino’s agreement in November 2024 to acquire UK-based SaaS platform FullCircl for $135m, further expanding its footprint in the banking technology sector.
