Banking technology vendor nCino has announced a definitive agreement to acquire the UK-based SaaS regtech platform FullCircl for $135 million in cash.
FullCircl’s platform aims to eliminate regulatory and verification challenges that hinder regulated companies, including financial institutions, from identifying, acquiring, verifying, onboarding, and retaining clients. The company boasts a client base of over 500, including notable names such as NatWest, Allica Bank, American Express, Metro Bank, and Solaris.
In 2023, FullCircl partnered with nCino to integrate its data capabilities into nCino’s platform, enhancing the speed, efficiency, and compliance of client acquisition, onboarding, and service processes for financial institutions.
With this acquisition, nCino aims to strengthen its presence in the UK and Europe while expanding its automation capabilities. Pierre Naudé, CEO of nCino, stated, “Having worked closely with the FullCircl team for some time now, we recognized 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.”