Fintech Nexus Newsletter (May 30, 2024): nCino reports record revenue for its first quarter
Fintech infrastructure is still hot.
As earnings season wraps up, we heard from nCino yesterday as they reported on their fiscal first quarter, which ended on April 30.
The company reported revenue of $128 million in Q1, up 13% from the same quarter last year.
Demand for its single-platform cloud banking solutions and AI offerings remains strong. The company also highlighted its agreement with M&T Bank, which leverages its explainable AI platform for continuous credit monitoring.
nCino is expecting to turn a profit this year on revenues of around $540 million.
Featured
> NCino Reports Demand for Cloud Banking, AI Drives Record Sales
NCino reported Wednesday (May 29) that demand for its single-platform cloud banking solution and AI features drove record gross sales in the most recent quarter.
From Fintech Nexus
> Nubank’s Credit Loan Strategy: How It Works
By David Feliba
Nubank executives talk credit strategy in Latam. The fintech has a portfolio of $20 billion comprised of personal and credit card loans.
> Breaking Down a Broken Healthcare Payments System
By Brian Marsella
With increasingly unaffordable healthcare costs, higher deductible health plans, and confusing medical billing statements, Americans are simply turning away from healthcare. This article will discuss how healthcare affordability and care avoidance are closely linked and how both affect patients, employers, and providers. In addition, it will explain why even patients with insurance are in desperate need of a new financial payment model that addresses the burden of healthcare costs.
Podcast
Joel Sequeira, Director of Product at IDology, on using AI in identity verification
There is no area of fintech moving faster than identity verification today. With new attack vectors coming online every day…
Editorial Cartoon
Webinar
Innovations for Smarter and Quicker Lending Decisions
Jun 6, 12pm EDT
The borrower of 2024 is more demanding than ever before. They want instant loan approvals and a frictionless checkout process….
Also Making News
- USA: Fintech Copper burned by Synapse collapse
The teen-focused fintech had to shut down its bank deposit accounts and debit cards mid-month — an earlier wind-down than expected due to turmoil experienced by its middleware provider, Synapse.
- Europe: FintechOS raises $60 million
FintechOS, a European startup promising a low-code approach to helping financial institutions quickly and painlessly go digital, has picked up $60 million in a Series B+ funding round extension.
To sponsor our newsletters and reach 180,000 fintech enthusiasts with your message, contact us here.
