On the 18th of March, 2024 -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, announced that they would be acquiring DocFox.
nCino is a publicly traded company in the USA. Its cloud-based banking software helps financial institutions gain efficiencies by digitising and streamlining processes across corporate and commercial banking, small business banking, retail banking, and mortgages - all on one platform. Through its single software-as-a-service (SaaS) platform, nCino is transforming how financial institutions operate through innovation, reputation and speed. The company is partnered with more than 1,800 financial services providers globally.
What Does This Mean for DocFox
DocFox was started with a combination of creating a great onboarding and FICA product, while also building an incredible culture that fosters growth and learning for employees. Through this acquisition, we will continue that exciting work in South Africa and on a global scale.
We’re excited to have joined forces with nCino, combining our similar visions, cultures,and commitments to customers and employees, with the goal of delivering technology that provides meaningful solutions to the industry’s most pressing challenges. Our leading onboarding and FICA automation solution will complement and extend nCino’s platform to create even greater value for institutions seeking to automate and digitise the experiences they provide across complex commercial lending to employees and clients.
nCino is headquartered in Wilmington, North Carolina, United States, and has 9 office locations - 10 now with DocFox in Johannesburg - around the world. This international presence means we will be able to have wider access to skilled individuals as well as greater insights into global market trends.
The Product
Part of what excites us most is nCino’s commitment to investment and growth in the South African market. This means that we will have more resources to enhance our product development as well as leverage existing nCino product offerings within the DocFox solution. We will be communicating more about this soon.
The DocFox Africa brand will be evolving to become nCino KYC Africa
From February 2025 you will see that the DocFox Africa brand will no longer exist and our new brand and name will be nCino KYC Africa.
What Does This Mean for DocFox Customers and Prospects
Your DocFox team that you know and love remains the same and we’ll be able to accelerate our investments in developing our products and growing our teams. Your experience with the team as well as the product should only get even better.
DocFox provides a natural extension of nCino’s capabilities in the onboarding space. By integrating DocFox into nCino, the combined offering will help simplify, automate, and drive efficiency across the onboarding as well as KYC experience. In the coming months, existing customers will see an upgraded interface as well as have access to more functionality. There will also be an opportunity to invest more into integrated solutions that will simplify your day-to-day business practices. We will continue to communicate with customers and the market as the new functionality becomes available.