FullCircl’s platform will help frontline teams gain access to business development tools to profile a graph-database of connected company data. Credit: mayam_studio/Shutterstock.

nCino, a cloud banking platform provider, has sealed a $135m deal to acquire FullCircl, which offers UK-based customer lifecycle intelligence platform.

A SaaS platform headquartered in the UK, FullCircl helps in boosting client lifecycle management for financial institutions by getting rid of regulatory hurdles.

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nCino will withhold $15m of the deal consideration for two years as “security for the performance of certain warranties and covenants”.

The fintech says that the addition of FullCircl’s business rules-engine will enhance its onboarding capability.

Besides, FullCircl’s platform will help frontline teams gain access to business development tools to profile a graph-database of connected company data, such as credit scores, risk profiles, financial information and more.

The latest deal builds on nCino and FullCircl’s alliance in 2023, which involved nCino integrating FullCircl’s data capabilities into its platform.

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The tie-up is significant, with the two companies having multiple mutual clients including major UK financial institutions and SME-focused neobanks.

nCino chairman and CEO Pierre Naudé said: “The acquisition of FullCircl is a strategic move for nCino that will not only enhance our data and automation capabilities but also enables us to expand our reach across the UK and more broadly in Europe with an end-to-end experience for full client lifecycle management.

“Having worked closely with the FullCircl team for some time now, we recognised 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.”

FullCircl CEO and co-founder Andrew Yates stated: “We have been working with the nCino team for several years, and the close alignment in both organisations across vision, culture, customers, product and market opportunity have contributed to this exciting acquisition making perfect sense.

“We both serve regulated industries who walk a tightrope between a strict operating rulebook and a mandate to deliver growth and shareholder value, all while providing a seamless client experience. This marks a significant new chapter for FullCircl as we become part of nCino.”