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Threat administration and compliance options supplier Ncontracts has acquired Quantivate this week. Monetary phrases of the deal weren’t disclosed.
Quantivate, which offers 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. At present, 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 at all times believed within the energy of progressive expertise and distinctive folks to assist banks and credit score unions thrive,” mentioned Quantivate Founder and CEO Andy Vanderhoff. “Ncontracts shares this mission, and I’m excited to observe because the energy and expertise of our united groups take danger administration options to the subsequent degree.”
With at present’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 monetary establishments.
This acquisition not solely expands Ncontracts’ workforce to 350 workers and buyer base to 4,000 monetary companies firms, nevertheless it additionally emphasizes the business’s rising 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 reinforce banks’ vendor information.
Ncontracts most just lately demoed at FinovateFall 2022 the place the corporate debuted Nrisk, a web based danger administration resolution that strengthens compliance controls in actual time. Instruments like these are particularly crucial to monetary companies companies in at present’s regulatory surroundings through which regulators have elevated their scrutiny of enterprise danger administration practices.
“We’re thrilled to affix forces with Quantivate,” mentioned 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 an excellent higher supplier of software program and companies for our prospects and the monetary business.”
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