With this acquisition, Ncontracts further solidifies its position as the software-as-a-service (SaaS) and knowledge-as-a-service (KaaS) leader at a time when increased regulatory scrutiny is shining a spotlight on enterprise risk management practices at U.S.-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.
“We are thrilled to join forces with Quantivate,” said Michael Berman, Ncontracts founder and CEO. “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.”
The Quantivate acquisition demonstrates Ncontracts’ continuous commitment to growth from both an organic and inorganic perspective. This history of year-over-year growth has led to Ncontracts being named to the Inc. 5000 list of fastest growing private companies in America for the fifth consecutive year in 2023.
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Andy Vanderhoff, Quantivate founder and CEO, had this to say about the transaction, “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.”
Terms of the acquisition were not disclosed. Michael Berman, CEO of Ncontracts, will continue his role as CEO of the newly combined company.
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. The company’s powerful combination of software and services enables financial institutions to achieve their risk management and compliance goals with an integrated, user-friendly cloud-based solution suite encompassing vendor, organizational, audit, and compliance risk management.
SOURCE: Businesswire