ClimateView partners with CDP and Microsoft to promote platform 

that helps cities plan best route to net zero 

ClimateView will help cities turbocharge climate action and respond to calls from the UN to “push further and faster” by giving them free access from today to cutting edge technology that helps them plan their best route to net zero.

In the wake of the COP26 Glasgow climate summit, the Swedish technology company has partnered with Microsoft and environmental non-profit CDP to offer cities worldwide a platform to help them define a comprehensive strategy to cut emissions and accelerate action to meet their climate targets.

ClimateView is making available functionality that removes barriers that prevent cities taking swift action, and CDP and Microsoft will promote it through their networks. The ClimateOS platform enables cities to set science-based carbon targets and identify the best way to meet them. It creates a digital twin city, reflecting the complexity of each city’s unique economy, and models the impact of dozens of separate low-carbon transitions across a range of sectors.

Newcastle, Cincinnati, Mannheim and Bern are among more than 35 cities and municipalities that are already using the ClimateOS platform in the UK, US, Germany, Switzerland, Sweden, Spain and Canada.

“Cities are where the climate battle will largely be won or lost,” UN Secretary General Antonio Guterres said last month, calling on them to “push further and faster.” He said: “The choices that will be made on urban infrastructure in the coming decades – on construction, housing, energy efficiency, power generation and transport – will have tremendous influence on the emissions curve.”

Tomer Shalit, ClimateView Founder and Chief Product Officer, said: “Governments’ climate pledges are not enough to avoid dangerous climate change and cities are stepping up to fill the gap. We want to turbocharge climate action by giving cities free access to a platform where they can plan, simulate and execute coordinated measures to cut carbon emissions across their whole economy.”

Cities are central to meeting global climate targets. They are home to more than half the world’s population and generate 70% of global energy-related greenhouse gas emissions. More than 1,000 cities and local governments with a population of 722 million have pledged to reach net zero by 2050.

But cities have complex economies and planning effective action is challenging. They must understand emissions from numerous activities and develop comprehensive plans to decarbonise key sectors such as transport, buildings, industry, energy and waste.

CDP has set up a framework for cities worldwide to disclose their environmental impact. In 2020, 812 cities disclosed emissions and 67% had citywide inventories of their emissions. But over half (51%) had no climate action plan, only 18% had set targets aligned with 1.5°C, and just 6% had set interim targets for cutting emissions.

Kyra Appleby, CDP Global Director Cities, States and Regions, said: “Cities are on the front line of climate change. In many countries their climate targets are more ambitious than national commitments but they need support to decarbonise rapidly. We are confident that ClimateView will help global cities reporting to CDP to take a system-wide approach to implementing science-based climate strategies, and we look forward to driving transparency and action together.”

Microsoft has 20 years’ experience of developing smart city solutions that use data and digital technology to make cities more sustainable, and it will promote ClimateOS to its city partners.

José Antonio Ondiviela, Microsoft Western Europe Government / Smart Cities Solutions Director, said: “All over the world cities are using new technology and data to improve residents’ lives, provide better services and support thriving businesses. We know there is strong demand for smart city solutions to address the huge challenge of decarbonisation, and ClimateView’s platform is designed to support cities through a successful net zero transition.” 

ClimateView announced at the Smart City Expo World Congress in Barcelona that it is making the critical analysis functionality within its platform free for cities to plan climate strategy. From today cities can sign up to use the ClimateOS Analysis toolkit, which offers a unique range of benefits that help accelerate climate action:

• Understanding emissions. City emissions inventories are often based on extrapolations from national data which can be up to two years old and do not reflect actions the city is taking. The toolkit enables cities to understand the activities that generate their emissions and gather an evidence base that reflects their actual circumstances. This enables cities to understand priorities for action and make concrete plans to reduce emissions from each activity.

• Building strategy. The toolkit uses mathematical models to build a digital twin city, reflecting its current economy and emissions. This recreates the complexity of real life and allows cities to explore the impact of multiple carbon-cutting initiatives and how they interact. It enables them to identify a comprehensive strategy to meet their target that is tailored to the needs of their city, and to ensure that they maintain a thriving economy through their low-carbon transition.

• Setting carbon budgets. The most progressive cities go beyond net zero pledges and set science-based targets based on carbon budgets, that reflect the city’s fair share of future emissions within the 1.5°C Paris climate target. The toolkit will tell a city what its business as usual emissions are and how fast it needs to reduce them to stay within its carbon budget to meet its Paris Agreement commitment.

• Cutting workload. The toolkit frees up time to focus on planning strategy. It provides cities with the best available data, saving time gathering and managing information and reducing the risk of errors. It simplifies reporting, making it easy to compile data to disclose against different frameworks.

The ClimateOS Analysis toolkit will allow cities to develop and implement a cross-sector climate strategy to meet their targets. It helps them navigate the complexity of their transition by breaking down their citywide economy into 80 manageable transition elements. Each represents a shift to a low-carbon way of meeting a specific need, such as moving from petrol and diesel cars to electric vehicles. Cities can then plan actions to drive each shift, such as subsidising EV purchases and building charging infrastructure.

Cities will be under no obligation to upgrade to the paid-for ClimateOS toolkits which offer additional functionality.

• The ClimateOS Collaboration toolkit gives access to multiple users across different city departments, providing a single platform on which they can manage their transition to a net zero economy, integrating targets, plans and budgets. This encourages collaboration and decision-making at speed and scale. It also provides interactive tools and dashboards that help build broad support for action, allowing a range of stakeholders to understand and engage with the strategy.

• The ClimateOS Implementation toolkit, currently in beta testing, will help cities make the business case for action and secure investment. It will enable them to identify the costs of each of the numerous shifts they can take to cut emissions – from encouraging uptake of EVs to retrofitting old buildings to make them more energy efficient – and their co-benefits, such as better health through cleaner air and warmer homes.

The ClimateOS platform is informed by ClimateView’s work developing Panorama, a climate dashboard that the Swedish government uses to make its decarbonisation plans publicly available. ClimateView built it for the Swedish Climate Policy Council, the independent body which assesses whether government policy is in line with its climate goals.

FSS (Financial Software and Systems), a globally leading provider of integrated payment products and a payments processor, today announced its collaboration with BRAC Bank, the leading bank in Bangladesh, to catalyze the growth of digital commerce in the country.  This partnership will enable FSS to provide its Omni-channel Acquiring Platform to BRAC Bank to onboard merchants and enable digital payment acceptance across multiple touchpoints - in-store, mobile and online.  

According to the eCommerce Association of Bangladesh (e-Cab), digital payments over the last three years, have recorded 100% year-on-year growth. The e-commerce industry is expected to grow to US$3 billion by 2023, driven by growing consumer preference for online and touch-free payments. FSS Omni-channel Acquiring Platform helps BRAC Bank to take advantage of the digital boom and accommodate new, in-demand digital and omni-channel commerce journeys.

A modular offering, FSS Omni-channel Acquiring Platform consolidates online, mobile, and in-store payment acceptance onto a single system to help merchants expand their digital business. The platform supports a wide range of global and alternate regional payment methods and adapts to any channel or shopper journey. Merchants can introduce a range of innovative payment capabilities such as Quick Response (QR) codes on standard POS and e-commerce channels or contactless (tap and pay) payments to deliver superior, secure transacting experiences to customers.  

Speaking on the collaboration Archit Mylandla, Executive Director, FSS said; “Bangladesh continues to be a fertile and growing market for payments innovation in the South Asian region. We look forward to collaborating with BRAC Bank to expand its merchant payment capabilities and advance adoption of digital payments in Bangladesh.  Our globally proven technology platform gives BRAC Bank the scalability and the flexibility needed to evolve with the market through continual product innovation and delivery of superior payments experiences to merchants.”

Speaking on the partnership, Khairuddin Ahmed Bappy, Head of Merchant Acquiring, BRAC Bank, stated; “As part of our transformation efforts, it's vital that we're working with experienced partners such as FSS, who can help us rapidly scale and bring innovative service experiences to merchants. The partnership helps us to lead the development of Bangladesh’s payments ecosystem and connect it with the wider region—and the rest of the world. FSS extensive experience gives us the technology foundation and the adaptability needed to rapidly grow our market share and readily support a broad range of merchants, with different risk levels, payment needs, and customer preferences.”

With the solution offered by FSS, merchants have access to an integrated payment platform that consolidates digital and physical transactions. The platform consolidates discrete channel-centric merchant operations and offers advanced capabilities that deliver superior value to merchants. This includes single onboarding irrespective of channel, centralized merchant management, accounting and settlement, advanced transaction surveillance and cross-channel merchant insights.  The solution provides merchants the flexibility to adopt a progressive approach to digitization, integrate with a single channel and seamlessly add-on channels and payment instruments to meet evolving business demands.

US$1.8 billion Total Payment Volume, up 217% year-over-year
Revenues of US$68.6 million, up 123% year-over-year
38% Adj EBITDA Margin, up 228 bps year-over-year

dLocal reports in US dollars and in accordance with IFRS as issued by the IASB

DLocal Limited (“dLocal”, “we”, “us”, and “our”) , a technology-first payments platform today announced its financial results for the third quarter ended September 30, 2021.

“We continue to see strong growth across multiple verticals as we see local economies continue to bounce back and global merchants prioritize their efforts in emerging markets. We continue to execute on our strategy to make the complex simple for our merchants. We continue to add new product capabilities on our platform that enhance our merchants’ ability to benefit from higher conversion. We continue to add new countries to our infrastructure network while continuing to add more payment methods and partners in markets in Latin America, Asia and Africa,” said Sebastian Kanovich.

Third Quarter 2021 Financial Highlights

• Total Payment Volume (“TPV”) reached US$1.8 billion in the quarter, representing 217% year-over-year growth compared to US$572 million in the third quarter of 2020 and 24% growth compared to US$1.5 million in the second quarter of 2021.
   
• Revenues in the third quarter of 2021 amounted to US$68.6 million, representing 123% year-over-year growth compared to US$30.9 million in the third quarter of 2020 and 16% growth compared to $59.0 million in the second quarter of 2021.
   
• Adjusted EBITDA was US$26.3 million in the third quarter of 2021 compared to US$12.5 million in the third quarter of 2020 and US$25.9 million in the second quarter of 2021.
   
• Adjusted EBITDA Margin was 38% in the third quarter of 2021 compared to 41% in the third quarter of 2020 and 44% in the second quarter of 2021.
   
• Profit for the third quarter of 2021 was US$19.7 million, or US$0.06 per diluted share, compared with profit of US$8.6 million, or US$0.03 per diluted share, for the third quarter of 2020 and with profit of US$17.7 million, or US$0.06 per diluted share, for the second quarter of 2021.
   
• Profit for the third quarter of 2021 includes one-off expenses of US$0.9 million mainly related to secondary offering expenses.
   
• As of September 30, 2021, dLocal had US$293.1 million in cash, cash equivalents and marketable securities, compared with US$266.0 million as of June 30, 2021. The increase of US$27.1 reflects an increase of US$16.3 million in our funds and an increase of US$10.8 million in funds due to our merchants with respect to the second quarter of 2021.

The following table summarizes our key performance metrics:

Earnings per share:

We calculate basic earnings per share by dividing the profit attributable to equity holders by the weighted average number of common shares issued and outstanding during the nine-months and three-months periods ended September 30, 2021 and 2020.

Our diluted earnings per share is calculated by dividing the profit attributable to equity holders of dLocal by the weighted average number of common shares outstanding during the period plus the weighted average number of common shares that would be issued on conversion of all dilutive potential common shares into common shares.

The next table presents the information used as base for such calculation

Third Quarter 2021 Business Highlights

• Our quarter over quarter TPV growth is attributable to the performance and continued growth of our enterprise merchants across most verticals, particularly in ride hailing, streaming, advertising, SAAS (“software as a service”) and retail, while other verticals such as financial services remained relatively stable.
   
• Revenue from Existing Merchants increased by US$26.2 million in the third quarter of 2021. The net revenue retention rate, or NRR, in the third quarter of 2021 reached 185% compared with 159%¹ in the fiscal year 2020.
   
• Revenues from New Merchants reached US$11.6 million in the third quarter of 2021 compared to US$9.5 million in the fiscal year 2020.
   
• dLocal continued to focus on its expansion efforts and added Thailand and El Salvador to its geographic network during the quarter, bringing the total number of countries in which dLocal makes its services available to 32.
   
• On average, Enterprise Global Merchants used dLocal’s platform in more than seven different countries and 64 payment methods in the third quarter of 2021, compared to nearly six different countries and 44 payment methods in 2020 and nearly seven different countries and 62 payment methods in the second quarter of 2021.

Conference Call and Webcast

dLocal’s management team will host a conference call and audio webcast on November 16, 2021 at 4:30 p.m. Eastern Time. The conference call may be accessed by dialing (888) 705-0197/ (409) 981-0764 (Conference ID – 4073836 –) and requesting inclusion in the call for dLocal.

The live conference call can be accessed via audio webcast at the investor relations section of dLocal’s website, at https://investor.dlocal.com/. An archive of the webcast will be available for a year following the conclusion of the conference call. The investor presentation will also be filed on EDGAR at www.sec.gov.

Paycraft goes global with setting up operations in UAE and shortly in Africa to service their strategic clients in the region.

Paycraft has fast emerged as a leading fintech which provides cutting edge solutions in payment processing and end to end payments solutions. PayCraft has built domain expertise and deep insights to handle both Offline and Online Payments on a single instrument. With its Form Factor Agonistic Issuance and acquiring platforms Paycraft services wide varieties of New age fintech’s and traditional payment ecosystems very seamlessly. 

PayCraft works closely with leading banks like SBI, ICICI, AXIS, HDFC to enable digitalization of small ticket payments in the Transit sector in India. It also works with corporates to digitize and manage efficiently the travel and Business expenses of the corporate employees. 

Paycraft currently manages approximately 70 million cards on its card issuance and management platforms for both prepaid and debit cards. PayCraft platforms have managed over 100 million EMV offline transactions in a very short span of time. All PayCraft platform are propriety and build in house Built in-house by a strong technology and development team. The Issuance, Acquiring, Automatic Fare Collection Systems and digital QR platforms which powers the digitalization of transit ticketing payments are capable of handling both Offline and Online Transactions & Manage fungible balances seamlessly.   PayCraft works closely with International Card associations including Master Card, VISA, Rupay and Mercury for developing and running unique payments use cases. 

Speaking on the expansion, Mr Ravi Jain, Co-founder of PayCraft said, “PayCraft is one of the pioneers in digitising small ticket payments in transit sector in India. The expertise gained over the years while servicing leading banks in India helps us to develop customised solutions which solves various pain points for clients across the globe.

PayCraft is working closely with various fintech’s/payment service providers in UAE to power unique payment solutions in the region. PayCraft provides its prepaid card issuance solution and corporate payments suite with its business expense management platform to users in the Gulf Region. PayCraft is actively looking to expand its existing footprint in the Gulf Region by partnering with various issuers to provide cutting edge solutions to help users with small ticket size payments both online and offline for bus and metro services along with retail payments.

PayCraft has developed customized solutions in accordance with the guidelines set by the Central Bank of UAE and to Ministry of Labor, to revolutionize the process of Digitizing Payroll Card processing systems in UAE with the Introduction of WPS payroll card. The WPS is an electronic salary transfer system that enables organizations in the private sector to pay employee’s wages through contracted Banks, Exchange Houses or any other financial institution approved and authorized by the Central Bank of UAE.

PayCraft is working closely with fintech’s and large conglomerates in Africa to build the Africa Payments stack. This will provide seamless payments to millions of un-banked and underbanked masses with easy to use, intuitive payment solutions. The objective of providing these solutions to various players in Africa is to help them enable seamless digital payments for many first-time users and the under-banked.

Paycraft is creating seamless payments solutions focussing on the pain points of logistics operators and supply chain companies by providing an all-in-one card solution for truck drivers in the African Market.

PayCraft has been achieving consistent growth in number of transactions and gross transaction value handled by their payment platforms. The international expansions would further scale up these numbers multifoliate aims to handle USD 10 billion GTV of payment transactions. 

Insights gathered will support a fairer mortgage market

Today, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to seek input on rules implementing the Home Mortgage Disclosure Act (HMDA). The CFPB plans to review recent changes to the rules and evaluate their effectiveness. This evaluation will strengthen the CFPB’s ability to maintain a fair, competitive, and non-discriminatory mortgage market.

HMDA, which was originally enacted in 1975, requires many lenders to report information about the home loans for which they receive applications or that they originate or purchase. The public and regulators can use the information to monitor whether financial institutions are serving the housing needs of their communities, to assist in distributing public-sector investment so as to attract private investment to areas where it is needed, and to identify possible discriminatory lending patterns. The CFPB maintains an online tool that provides access to the public loan data, allowing users to filter information, create summary tables, download the data, and save their results.

The CFPB finalized changes to the HMDA regulations in 2015, expanding the types of data reported by lenders to improve overall market information and help with monitoring for fair lending compliance. The 2015 rule also improved the reporting process by aligning requirements with industry data standards, significantly enhancing the technological interface, and easing requirements for some small banks and credit unions.

The CFPB is seeking comment from the public to ensure the Bureau can use the data collected under the HMDA Rule to most effectively meet the rule’s goals.

The CFPB is seeking comments on its plans to assess the effectiveness of the HMDA Rule. Specifically, the CFPB will focus on:

• Institutional coverage and transactional coverage;
• Data points;
• Benefits of the new data and disclosure requirements; and
• Operational and compliance costs.

The CFPB welcomes the public’s input, and the RFI will remain open for 60 days after publication in the Federal Register.

The RFI follows an August 2021 HMDA report, which found that mortgage lenders more often deny credit and charge higher interest rates to Black and Hispanic applicants than they do to white applicants, and a July 2021 CFPB analysis of mortgage lending patterns within the Asian American Pacific Islander (AAPI) communities. The July 2021 CPFB analysis, using the expanded reporting of racial and ethnic data made possible by the 2015 HMDA rule, found considerable heterogeneity among AAPI communities, with some subgroups showing mortgage denial rates similar to those of Black and Hispanic borrowers. The CFPB has also made use of the enhanced data in a May 2021 report studying the financing of manufactured housing loans.

Read the Request for Information released today.

The CFPB’s online HMDA tool is available at: www.consumerfinance.gov/hmda/

Bybit, one of the fastest growing cryptocurrency exchanges with operations around the world, is the new global main sponsor of the Argentina national football teams, including the men's international football side captained by Lionel Messi.

Through this two-years agreement, Bybit's brand will have maximum visibility in all Argentine Football Associations (AFA) assets, and its logo will be present in the training apparel of all the national football teams. Within its global growth strategy for the coming years, the Latin American market is one of the focuses of Bybit, which was founded in 2018 and today has operations around the world.

In relation to this issue, the President of AFA, Claudio Tapia, said, "We are very happy to announce this important commercial agreement. We added a brand to the national teams' clothing and that is something significant, both for the company and for AFA. It is important to add brands with a global presence, which accompany the national team projects that we have been developing in an integral way for 4 years, not only with the senior national team. We know that 2022 will be a very important year due to the skills we have and without a doubt this will give the national team enormous visibility. We welcome Bybit to the Argentine Football Association, and appreciate the trust they place in our projects. We will work together to achieve the highest return from this important sponsorship agreement."

Regarding the commercial importance of the agreement, Leandro Petersen, Commercial and Marketing Manager of AFA pointed out, "Adding a brand in the clothing of our teams is very important. In these years we have carried out a strategy of commercial and brand growth around the world, opening strategic markets where AFA does not have a presence in, generating various business units to strengthen AFA's revenues and launching new digital products for fans around the world. We have added many business partners in this way — leading brands that today form part of the AFA sponsorship platform. Bybit is a global brand that bets on technology and seeks to continue growing throughout the world, in the same way that we are doing in our association. It will undoubtedly be a sponsorship that will enhance both brands and generate new growth opportunities globally."

Ben Zhou, CEO of Bybit, stated, "We are excited to support the Argentina national football team through this long term partnership with the Argentine Football Association. La Albiceleste not only has the complementary colors for Bybit's black and yellow, but also embodies relentless passion and limitless creativity — qualities we as a crypto company would like to champion and celebrate. Working with the AFA is one of the easiest decisions we have made. Bybit will be cheering for Argentina for years to come."

IDT Corporation, a global provider of fintech, cloud communications and traditional communications services, today announced that Shmuel Jonas, Chief Executive Officer, will present at the 13th Annual Southwest IDEAS Investor Conference on November 18th in Dallas, TX. Mr. Jonas’ presentation is scheduled to begin at 9 AM ET, 8 AM CT followed by 1x1 meetings with investors throughout the day. 

Mr. Jonas’ presentation will include an overview of the company’s operations, strategy and financial results through the close of its 2021 fiscal year ended July 31st. The presentation will be audio webcast live and may be accessed through the presentations page within the investor relations section of the IDT website: https://www.idt.net/investors-and-media/investors-presentations or though the conference host’s website: https://www.wsw.com/webcast/threepa36/idt/2031090. The presentation will be available for 90 days following the live webcast. 

Additional information about the Southwest IDEAS conference is available here: www.IDEASconferences.com. Please contact Lacey Wesley at (817) 769-2373 or lwesley@threepa.com to register. 

Combines leading cloud-based, mobile-first homeownership platform with the nCino Bank Operating System^®

Expands nCino’s point-of-sale and mobile capabilities

nCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced it has entered into a definitive agreement to acquire SimpleNexus in a stock and cash transaction valued at approximately $1.2 billion. SimpleNexus seamlessly unites the people, systems, and stages of the home buying process into a single end-to-end experience, enabling loan officers, borrowers, real estate agents and settlement agents to manage the homeownership journey in the palm of their hands.

“When we first started nCino, our mission was clear: to transform the financial services industry through innovation, reputation and speed. Today, we take another major step forward in executing on that mission by welcoming the talented team at SimpleNexus and their best-in-class, cloud-based homeownership platform into the nCino family,” said Pierre Naudé, Chief Executive Officer of nCino. “Just as nCino has transformed the process for commercial, small business and retail lending, treasury management and account opening, SimpleNexus has streamlined the many stages of the homeownership process into a single, seamless journey. Their innovative solution and deep subject matter expertise in consumer front-end technology will extend our capabilities to the U.S. point-of-sale mortgage space and enhance nCino’s mobile and point-of-sale offerings, unlocking additional opportunities and value for our customers and their clients.”

SimpleNexus has established itself as a leading digital homeownership software company in the U.S., serving more than 300 independent mortgage banks (IMBs), over 80 banks and credit unions, and more than 41,000 loan originators nationwide. During the first nine months of 2021, more than 1 in every 7 mortgage originations in the U.S. leveraged SimpleNexus’ software.

Providing a natural expansion of nCino’s capabilities to the U.S. point-of-sale mortgage market, the acquisition of SimpleNexus initially expands nCino’s serviceable addressable market by over $4 billion and furthers its competitive position as the single digital banking platform of choice. Similar to nCino, SimpleNexus operates a per-seat subscription-based revenue model, enabling the company to generate financial results that are more predictable, recurring and not based on mortgage transaction volumes.

nCino and SimpleNexus will work together to continue innovating for the IMB community while accelerating the adoption of the SimpleNexus homeownership platform by U.S. banks and credit unions, where nCino currently has over 1,100 customers. The two companies will also work together to leverage SimpleNexus’ consumer front-end technology and domain expertise to accelerate the development of nCino’s mobile and point-of-sale offerings across additional lines of business.

“This is a truly exciting moment for SimpleNexus, and we are eager to be joining forces with the nCino team, with whom we share similar technology visions, strong cultural alignment and a commitment to taking care of our employees and customers,” said Cathleen Schreiner Gates, Chief Executive Officer at SimpleNexus. “Our industry-leading, mobile-first homeownership platform will complement nCino’s Bank Operating System to create even greater value for IMBs and financial institutions across multiple product lines and digital channels. Together, our best-in-class, cloud native platforms will significantly strengthen how we serve our customers.”

Details Regarding the Proposed Acquisition
nCino will acquire SimpleNexus for approximately $240 million in cash and approximately 13.2 million shares of nCino Common Stock, subject to customary adjustments for transactions of this nature.

An investor presentation about the transaction is available on the Investor Relations section of nCino’s website: https://investor.ncino.com/news-events/events-and-presentations. Additional details and information about the terms and conditions of the acquisition will be available in a Current Report on Form 8-K to be filed by nCino with the Securities and Exchange Commission.

The transaction is expected to close by the end of nCino’s fourth fiscal quarter ending January 31, 2022 and is subject to receipt of regulatory approvals and other customary closing conditions.

Advisors
BofA Securities is serving as financial advisor to nCino, and Sidley Austin LLP is serving as its legal counsel. Willkie Farr & Gallagher LLP is serving as legal counsel to SimpleNexus.

Conference Call Information
nCino and SimpleNexus executives will host a conference call at 4:30 p.m. ET today to discuss the details of the transaction. The conference call will be available via live webcast and replay at the Investor Relations section of nCino’s website: https://investor.ncino.com/news-events/events-and-presentations.

Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements about nCino’s expectations, plans, future performance, outlook and prospects regarding the benefits that may be derived from the proposed transaction between nCino, Inc. and SimpleNexus, LLC (“SimpleNexus”) including, without limitation, with respect to SimpleNexus’ growth profile, cross and upsell opportunities, and the expansion of the nCino Bank Operating System^® platform.  Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino’s and/or SimpleNexus’ historical performance and their current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements.

These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to, risks related to: (i) changes in economic conditions, particularly increases in mortgage interest rates, credit availability, real estate prices, and consumer confidence, (ii) the ability of the parties to satisfy the closing conditions in a timely fashion or at all, (iii) retaining the employees of SimpleNexus, (iv) nCino’s ability to successfully integrate the SimpleNexus business, including SimpleNexus’ recent acquisition of LBA Ware, (v) the ability to sustain revenue growth rates of both businesses, (vi) the ability to accelerate the development of nCino’s mobile and point-of-sale offerings across additional lines of business, and (vii) the achievement of anticipated synergies and the timing thereof. Additional risks and uncertainties that could affect nCino’s business and financial results and these forward-looking statements are included in nCino’s reports filed with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.

GreenBox POS ("GreenBox" or the "Company"), an emerging fintech company leveraging proprietary blockchain security and token technology to build customized payment solutions, announced today the appointment of Jacqueline B. Reynolds to the position of Chief Marketing Officer.

With decades of experience leading some of the world’s most coveted brands, Jacqueline is respected as a world-class global marketer. Household names such as Coca-Cola, McDonald’s, Verizon, Walmart, L’Oreal, Xbox, 7-Eleven and a myriad of other Fortune 500 companies have trusted Jacqueline’s strategy and creative leadership, consumer insights, brand development and digital / social media marketing prowess to launch massive consumer campaigns. Having held senior leadership positions at global brands, top agencies and media companies, Jacqueline has spearheaded award-winning programs with global partners, such as NFL, Super Bowl LIV, The Olympics, FIFA World Cup, Sony Pictures, Universal Music and others. Most recently, Jacqueline was Vice President of Marketing for Sprouts Farmers Market. She holds a Bachelor of Science in Communications from the University of Miami.

As Chief Marketing Officer, Jacqueline will lead all marketing strategy, including the development of GreenBox’s brand positioning, along with a communications plan to relevantly connect with customers and investors, focused across a variety of platforms. “GreenBox is a marketer’s dream, offering customers something completely unique in an industry that is ripe for disruption,” says Jacqueline.

“Jacqueline brings a bold vision, incredibly deep marketing experience and a data-driven approach to brand building,” said Fredi Nisan, Chief Executive Officer of GreenBox. “Her ability to shape the conversation, humanize the brand and establish GreenBox as a trusted solution will be critical in achieving our mission to build compliant, cutting edge blockchain ledger tokenized payment solutions for the diverse, evolving and dynamic global market.”

Jacqueline added, “GreenBox is laser-focused on driving value, launching our products globally and demystifying the experience of using digital blockchain for payment and banking solutions, which makes it an amazing time to join the team. I’m confident that we can build tremendous momentum for the GreenBox brand.”