other material
confidence high
sentiment neutral
materiality 0.15
nCino discloses SVB and Signature Bank FDIC takeover; combined <2% of Q3 FY2023 revenue
nCino, Inc.
- FDIC took control of Silicon Valley Bank and Signature Bank on March 13, 2023.
- SVB and Signature Bank combined contributed less than 2% of nCino's total revenues in Q3 FY2023.
- nCino provides cloud-based SaaS services to both banks; no material financial impact expected.