Ncontracts, a provider of integrated risk management solutions for the financial services industry, has acquired the OnSemble intranet portal from Passageways, Inc. The OnSemble intranet portal provides a full communication platform that activates a company’s culture by keeping employees informed, aligned, engaged, and enabled.
“We are excited to add the team and product from OnSemble to our organization,” said Michael Berman, CEO of Ncontracts. “We’ve seen tremendous growth in our intranet solution since acquiring BancIntranets in 2020 and the addition of the OnSemble solution and customer base will allow us to accelerate growth of this segment of our business.”
With this acquisition Ncontracts will expand its comprehensive software platform that automates the development and updating of employee intranets for the financial services industry, which includes banks, credit unions, mortgage companies, and fintechs, to ensure that information needed for compliance and risk management can be rapidly shared and distributed across the organization.
“We’re thrilled to be joining the Ncontracts organization and continue to grow our intranet solutions,” said Thomas Millay, General Manager of OnSemble Software. “The OnSemble intranet portal has a strong base of customers in the financial services industry and combining our insights with the growing intranet portfolio at Ncontracts is great news for our customers and the marketplace.”
Ncontracts’ integrated risk management solution enables banks, credit unions, mortgage lenders, and fintech companies in all 50 US 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 ensuring 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. Ncontracts was advised by Gibson, Dunn & Crutcher LLP throughout this transaction.
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