Exclusive-Cloud banking vendor nCino explores sale -sources

nCino Inc, which offers cloud-based software to banks, is exploring its options, including a potential sale, after attracting takeover interest from private equity firms, people familiar with the matter said on Friday.

Insight Partners, a private equity firm that owns about 35 per cent of nCino, has not yet decided whether it will participate in any potential deal or simply cash out, the sources added. Based in Wilmington, North Carolina, nCino offers cloud-based software to banks and financial institutions that helps digitize their processes, including around lending and deposit-taking. It was spun out off North Carolina-based Live Oak Bancshares in 2011.

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