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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, threat, and compliance (GRC) options for banks and credit score unions, was based in 2005. Quantivate’s flagship providing is its Enterprise Continuity Software program. Right this moment, the corporate has a collection of governance, threat, 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 revolutionary expertise 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 observe because the energy and expertise of our united groups take threat 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 corporations, nevertheless it additionally emphasizes the business’s growing reliance on subtle threat administration options.
Ncontracts was based in 2009 and makes a speciality of threat, vendor, and compliance administration software program for monetary providers corporations. The corporate presently 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 knowledge.
Ncontracts most not too long ago demoed at FinovateFall 2022 the place the corporate debuted Nrisk, an internet threat administration resolution that strengthens compliance controls in actual time. Instruments like these are particularly crucial to monetary providers corporations in immediately’s regulatory atmosphere during which regulators have elevated their scrutiny of enterprise threat administration practices.
“We’re thrilled to affix forces with Quantivate,” stated Ncontracts founder and CEO Michael Berman. “We’re each mutually dedicated to serving to monetary establishments cut back threat, enhance compliance, and management prices, so combining our assets empowers us to be a good higher supplier of software program and providers for our prospects and the monetary business.”
Photograph by fauxels
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