other
confidence high
sentiment neutral
materiality 0.30
nCino confirms First Republic exposure <1% of FY2023 revenue; bank enters FDIC receivership
nCino, Inc.
- FDIC took control of First Republic Bank; JPMorgan Chase acquired substantial assets and certain liabilities.
- nCino provides cloud-based SaaS services to First Republic Bank.
- First Republic contributed less than 1% of nCino's total revenues in fiscal year 2023.