Threat administration and compliance options supplier Ncontracts has acquired Quantivate this week. Monetary phrases of the deal weren’t disclosed.
Quantivate, which gives governance, danger, and compliance (GRC) options for banks and credit score unions, was based in 2005. Quantivate’s flagship providing is its Enterprise Continuity Software program. Immediately, the corporate has a set of governance, danger, and compliance administration options, together with ERM Intelligence, Compliance, Operational Resilience, IT Threat, Procurement, Audit, and extra.
“Quantivate has all the time believed within the energy of modern know-how and distinctive folks to assist banks and credit score unions thrive,” stated Quantivate Founder and CEO Andy Vanderhoff. “Ncontracts shares this mission, and I’m excited to look at because the energy and expertise of our united groups take danger administration options to the subsequent stage.”
With at this time’s acquisition, Ncontracts goals to place it as a software-as-a-service (SaaS) and knowledge-as-a-service (KaaS) chief. Quantivate’s GRC options and broader suite protecting areas like ERM Intelligence, Compliance, IT Threat, and extra, strengthen Ncontracts’ portfolio by enhancing its capabilities in addressing the advanced wants of economic establishments.
This acquisition not solely expands Ncontracts’ workforce to 350 staff and buyer base to 4,000 monetary companies firms, nevertheless it additionally emphasizes the business’s growing reliance on subtle danger administration options.
Ncontracts was based in 2009 and makes a speciality of danger, vendor, and compliance administration software program for monetary companies firms. The corporate presently serves greater than 4,000 monetary companies organizations, together with Tinker Federal Credit score Union, Columbia Financial institution, Safety Financial institution of Kansas Metropolis, and extra. Earlier this fall, Ncontracts teamed up with fellow Finovate alum True Digital to boost banks’ vendor information.
Ncontracts most not too long ago demoed at FinovateFall 2022 the place the corporate debuted Nrisk, an internet danger administration resolution that strengthens compliance controls in actual time. Instruments like these are particularly crucial to monetary companies corporations in at this time’s regulatory setting during which regulators have elevated their scrutiny of enterprise danger administration practices.
“We’re thrilled to hitch forces with Quantivate,” stated Ncontracts founder and CEO Michael Berman. “We’re each mutually dedicated to serving to monetary establishments cut back danger, enhance compliance, and management prices, so combining our sources empowers us to be a fair higher supplier of software program and companies for our prospects and the monetary business.”
Photograph by fauxels
