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 all the time believed within the energy of revolutionary 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 look at because the power and expertise of our united groups take danger administration options to the subsequent degree.”
With immediately’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 masking areas like ERM Intelligence, Compliance, IT Threat, and extra, strengthen Ncontracts’ portfolio by enhancing its capabilities in addressing the complicated wants of economic establishments.
This acquisition not solely expands Ncontracts’ workforce to 350 workers and buyer base to 4,000 monetary providers firms, but it surely additionally emphasizes the trade’s rising reliance on refined danger administration options.
Ncontracts was based in 2009 and makes a speciality of danger, vendor, and compliance administration software program for monetary providers firms. The corporate at the moment serves greater than 4,000 monetary providers 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 not too long ago 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 providers corporations in immediately’s regulatory setting during which regulators have elevated their scrutiny of enterprise danger administration practices.
“We’re thrilled to hitch 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 assets empowers us to be a good higher supplier of software program and providers for our clients and the monetary trade.”
Photograph by fauxels
