Company Directory - nCino, Inc.
Company Details - nCino, Inc.
nCino, Inc.
WebsiteWilmington, United States
nCino is a leading cloud-based banking software provider for the financial services industry. The company delivers an integrated platform that helps financial institutions streamline operations, modernize legacy systems, and improve customer experience through innovative digital solutions.
CCI Score
CCI Score: nCino, Inc.
-45.94
0.02%
Latest Event
nCino Settles Civil Lawsuit Over Illegal Hiring Practices
On September 7, 2023, nCino, a cloud-based banking software provider, agreed to settle a class-action lawsuit for $2.19 million. The lawsuit alleged that nCino, along with other local companies, engaged in an illegal no-hire agreement that violated antitrust laws and suppressed employee mobility. Although nCino denied wrongdoing and the DOJ closed its investigation without penalties, the settlement highlights concerns over its labor practices.
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QUISLING
nCino, Inc. is currently rated as a Quisling.
Latest Events
- SEP072023
On September 7, 2023, nCino, a cloud-based banking software provider, agreed to settle a class-action lawsuit for $2.19 million. The lawsuit alleged that nCino, along with other local companies, engaged in an illegal no-hire agreement that violated antitrust laws and suppressed employee mobility. Although nCino denied wrongdoing and the DOJ closed its investigation without penalties, the settlement highlights concerns over its labor practices.
-60
Labor Relations and Human Rights Practices
March 30
The settlement stems from allegations that nCino engaged in an illegal no-hire agreement that limited employee mobility and violated antitrust laws. This action is seen as a failure to uphold fair labor practices and protect worker rights, reflecting negatively on its business ethics.
- AUG292023
nCino agreed to pay $2.2 million to settle an antitrust lawsuit alleging that it colluded with other financial technology companies to enforce no‐poach agreements. The settlement, finalized on August 29, 2023, comes after claims that such practices suppressed fair labor competition and wages, highlighting unethical employment practices that undermine workers' rights and fair market competition.
-80
Labor Relations and Human Rights Practices
March 30
The settlement confirms that nCino engaged in no‐poach agreements that restricted employee hiring and suppressed wages, violating fair labor practices. This behavior undermines workers' rights and contributes to corporate practices that may facilitate authoritarian economic control by reducing competitive labor standards.
Cloud-Banking Software Company nCino Settles Antitrust Lawsuit
-70
Economic Collaboration
March 30
The case highlights collusion between nCino and other fintech companies to restrict competitive hiring practices. Such economic collaboration not only limits market competition but also reinforces unethical business practices that have a broader negative impact on economic fairness and structural inequality.
Cloud-Banking Software Company nCino Settles Antitrust Lawsuit
- AUG212023
nCino agreed to settle a class action antitrust lawsuit for $2.2 million over allegations of a 'gentlemen’s agreement' to refrain from hiring each other's employees. The arrangement was alleged to have suppressed wages and stifled competition, impacting worker rights and the local labor market in Wilmington.
-50
Labor Relations and Human Rights Practices
March 30
nCino settled an antitrust lawsuit stemming from allegations that it engaged in a no-hire agreement with related financial tech firms. Such practices restrict labor market competition and suppress wages, undermining workers' rights and fair labor practices. Although the settlement compensates employees, the underlying anti-competitive behavior reflects negatively on the company's business ethics.
nCino agrees to settle antitrust suit for $2.2M, denies claims of wrongdoing
- FEB152023
nCino was notified that the U.S. Department of Justice has closed its investigation into its hiring and wage practices without imposing fines, even as a pending class action lawsuit alleges an illegal no-hire agreement that could harm worker mobility and suppress competitive wages.
-70
Labor Relations and Human Rights Practices
March 30
Although the DOJ closed its investigation without fines, the ongoing class action lawsuit alleging an illegal no-hire agreement raises serious concerns about nCino's commitment to fair labor practices. Such practices can restrict worker mobility and suppress competitive wages, undermining workers’ rights and ethical business conduct.
DOJ closes investigation into nCino's hiring, wage practices - Charlotte Business Journal
- FEB082023
The U.S. Department of Justice closed a nearly two-year investigation into nCino's hiring and wage practices without imposing any fines or sanctions.
-15
Labor Relations and Human Rights Practices
March 30
Although the investigation concluded with no penalties, the fact that federal antitrust scrutiny was required to probe nCino's hiring practices raises concerns about potential shortcomings in fair labor practices and competitive wage dynamics. The absence of enforcement may indicate broader issues with how worker rights are managed.
Federal investigation into nCino wraps up while lawsuit remains open
- MAR122021
A class action lawsuit, filed on March 12, 2021, alleges that a 'no-hire' agreement among nCino, Live Oak Bank, and Apiture has suppressed wages and limited employee mobility, calling into question the company’s commitment to fair labor practices.
-75
Labor Relations and Human Rights Practices
March 30
The lawsuit alleges that by entering into a no-hire agreement, nCino contributed to reducing competition for tech talent, thereby suppressing wages and undermining fair labor practices. Such collusion, if true, poses significant ethical concerns regarding the treatment of workers and the commitment to equitable employment conditions.
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