Technology company nCino bought Sandbox Banking.
The company said in a press release that it paid $52.5 million in cash for Sandbox Banking, with an earn-out opportunity of up to $10 million based on financial and product development metrics.
The deal is intended to strengthen nCino’s Integration Platform as a Service capabilities, including enhanced data connectivity and streamlined operations for financial institutions.
The technology includes pre-built adapters for core banking platforms and AI-powered integration logic, among other things.