Ncontracts has announced it has acquired Quantivate, a growing provider of governance, risk, and compliance solutions for banks and credit unions. Ncontracts is a provider of integrated compliance, risk, and vendor management solutions to the financial services industry.
With this acquisition, Ncontracts improves its position as a reliable software-as-a-service (SaaS) and knowledge-as-a-service (KaaS). This comes at a time when increased regulatory scrutiny is shining a spotlight on enterprise risk management practices at US-based financial institutions. The transaction will add complementary solutions that will provide expanded services for customers, while growing Ncontracts’ workforce to 350 employees with a combined customer base of over 4,000 financial institutions.
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Ncontracts provides integrated risk, vendor and compliance management software to a rapidly expanding customer base of over 4,000 financial institutions, mortgage companies, and fintechs in the United States. Quantivate has provided web-based governance, risk, and compliance software and service solutions to organisations of all sizes since 2005.
Ncontracts’ commitment to organic and inorganic growth
Michael Berman, Ncontracts founder and CEO, reflected positively on the news. He said: “We are thrilled to join forces with Quantivate. “We are both mutually committed to helping financial institutions reduce risk, improve compliance, and control costs, so combining our resources empowers us to be an even better provider of software and services for our customers and the financial industry.” Berman will continue his role as CEO of the newly combined company.
The Quantivate acquisition demonstrates Ncontracts’ continuous commitment to growth from both an organic and inorganic perspective.
Andy Vanderhoff, Quantivate founder and CEO, continued the positive reaction to the announcement. He said: “Quantivate has always believed in the power of innovative technology and exceptional people to help banks and credit unions thrive. Ncontracts shares this mission, and I’m excited to watch as the strength and experience of our united teams take risk management solutions to the next level.”
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