Ncontracts, which is backed by Gryphon Investors, has acquired Banc Intranets, a provider of enterprise content management solutions. No financial terms were disclosed.
Brentwood, TN, August 31, 2020: Ncontracts, the leading provider of integrated risk management solutions for the financial industry, announced that it has acquired Banc Intranets, a provider of secure, web-based enterprise content management solutions.
“This acquisition further extends our ability to provide comprehensive solutions to our customers around the country,” said Michael Berman, CEO of Ncontracts. “Adding the industry-leading capabilities of the BancWorks employee portal and the DirectorLink board portal to our integrated suite of risk management solutions will improve internal efficiencies and decrease risk for our clients. We’re excited to welcome the entire Banc Intranets team to Ncontracts.”
With the acquisition, Ncontracts will now offer the most comprehensive set of capabilities to assess and monitor risk and compliance for the financial services industry, which includes banks, credit unions, mortgage companies, and fintechs, to make sure that information needed for compliance and risk management is securely and seamlessly shared across the entire organization.
“We’re extremely excited to be joining forces with Ncontracts, which leads our industry in providing vendor, risk, and compliance solutions,” said Mark Anderson, co-founder and CEO of Banc Intranets. “The combination of our portal tools for employees and boards combined with the functionality across the suite of Ncontracts solutions provides a tremendous advantage for banks and credit unions everywhere to more efficiently and effectively manage their risk and compliance efforts.”
Ncontract’s integrated risk management solution enables banks, credit unions, mortgage lenders, and fintech companies in all 50 states to automate their risk management and compliance activities. Clients save time in assessing and managing risks related to the financial products they market to consumers and ensure that their compliance activities are accurate and complete. The need for this “RegTech” software has become more critical as federal and state regulations have become more complex, and as the impact of COVID-19, PPP loans, and lending diversity and equity initiatives continue to evolve. The combined companies will have over 200 employees and more than 1,600 customers around the country.
“The addition of the Banc Intranets services and expertise will enable Ncontracts to deliver the most comprehensive set of integrated risk management offerings available in the marketplace,” said Michael Berman, Ncontracts CEO. “With the backing of our financial partner, Gryphon Investors, we are just beginning our next phase of organic and acquisition-driven growth and look forward to continuing to expand our capabilities and resources to achieve our vision of elevating risk management and regulatory compliance from complex burdens to strategic advantages.”
Ncontracts provides integrated risk management and compliance software to a rapidly expanding customer base of nearly 1,400 financial institutions located in all 50 states and US territories. 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 that encompasses vendor risk, organizational risk, audit risk, and compliance risk management. The company was recently named to the Inc. 5000 fastest-growing private companies in America for the 2nd consecutive year. For more information visit www.ncontracts.com or follow the company on LinkedIn and Twitter.
About Banc Intranets
Established in 2002, Banc Intranets, LLC is a leading provider of secure, web-based enterprise content management solutions for financial institutions. Its technology provides a single point of access across multiple devices for information and centralizes employee onboarding and training, streamlining day-to-day operations for bank directors and senior managers in over 1,600 institutions across the country. In addition to increasing efficiency and productivity, Banc Intranets’ solutions are developed by financial industry professionals, providing comprehensive reporting that is critical to maintaining regulatory compliance. For more information, visit www.bancintranets.com or follow the company on LinkedIn and Twitter.