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Ncontracts Completes the Acquisition of OnSemble Software from Passageways
Fremont, CA: Ncontracts serves nearly 4,000 financial institutions and mortgage companies in the US with integrated risk management and compliance software. The company's powerful combination of software and services empowers financial institutions to achieve risk management and compliance goals in a streamlined, user-friendly manner.
Ncontracts, a leading provider of integrated risk management solutions for the financial services industry, has completed the acquisition of Passageways, Inc.'s OnSemble intranet portal. The OnSemble intranet portal gives a comprehensive communication platform that activates a company's culture by keeping employees informed, engaged, aligned, and empowered.
"We are excited about the capabilities this team and product from OnSemble bring to our organization," remarked Michael Berman, CEO of Ncontracts. "We've seen tremendous appetite for our intranet solution since acquiring Banc Intranets in 2020 as it fills a large need in our customer's internal communication and information sharing workflows. The addition of the OnSemble solution and customer base will allow us to accelerate the growth of this area of our business and bring new capabilities to our customers."
With this acquisition, Ncontracts will broaden its comprehensive software platform, which automates the development as well as updating of employee intranets for the financial services industry, which includes banks, mortgage companies, credit unions, and fintech, to ensure that information required for compliance and risk management is quickly shared and distributed across the organization.
Ncontracts' integrated risk management solution automates risk management and compliance activities for banks, mortgage lenders, credit unions, and fintech companies in all 50 US states. Clients save time assessing and managing risks associated with the financial products they market to consumers, as well as ensuring the accuracy and completeness of their compliance activities. As federal and state regulations have become more complex, as has the impact of COVID-19, PPP loans, and lending diversity and equity initiatives, the need for this "RegTech" software has grown. Gibson, Dunn & Crutcher LLP provided legal counsel to Ncontracts throughout the transaction.