Ncontracts named to FinovateFall 2022 Demo Lineup
BRENTWOOD, Tenn.–(BUSINESS WIRE)–Ncontracts, the leading provider of integrated risk management and lending compliance solutions for the financial services industry, has been selected to demonstrate at FinovateFall 2022, which will take place 12-14 September in New York.
First-time exhibitor Ncontracts will demonstrate its Enterprise Risk Management (ERM) system to show how fintechs and financial institutions can safely (and profitably) work together. Nrisk is a secure web-based risk management solution that offers organizations efficiency in every way, assessing and strengthening compliance and controls in real time for more effective risk management. With a clear understanding of risk, financial institutions and fintech can better monitor, report on and communicate risk internally and externally.
“Finovate is known for curating innovative technology showcases. Each demo is carefully selected, ensuring that the presenters are worthy of our attendees’ attention,” said Greg Palmer, VP of Strategy at Finovate. “We look forward to having Ncontracts at our stage this year to showcase the latest in reg technology.”
More than ever, financial institutions are eagerly partnering with fintechs to modernize the customer experience, improve internal efficiency and generate additional revenue streams. In 2019, less than half of financial institutions considered fintech partnerships important, compared to 9 in 10 today. Additionally, 35% of financial institutions have invested in a fintech startup with the average investment size more than quadrupling over the past three years.
These relationships bring many benefits, but there are also risks for both financial institutions and their fintech partners. Apart from larger fintechs with dedicated resources, most lack internal compliance programs and instead rely on other companies for risk and compliance support. This can increase a fintech’s risk exposure if the wrong company is chosen.
“Financial institutions and fintech are intertwined, and Nrisk helps them work together safely and profitably,” said Michael Berman, CEO and founder of Ncontracts. “Like banks, fintechs need risk management to operate alongside financial institutions. Ncontracts is excited to facilitate this relationship and demonstrate our system at FinovateFall.”
Bill Simpson, CTO of Ncontracts, added: “Finovate provides an opportunity to showcase the best our industry has to offer. We look forward to demonstrating how Ncontracts can rapidly transform the risk posture of these innovators to maximize their value and safeguard their most important relationships.”
From changing market conditions to the ever-changing regulatory landscape, the operational risk facing fintech is constantly evolving, and the need for powerful RegTech and risk management software has become increasingly critical. Meanwhile, as the regulatory environment becomes more complex, identifying relevant regulations to keep pace with change management is an ongoing challenge. Ncontracts’ rapidly growing customer base leverages its solutions to save time while continuously evaluating and managing risk from a strategic, operational, compliance and tactical perspective. These knowledge-as-a-service (KaaS) solutions give fintechs the benefit of cloud technology built to make it easy to find and leverage industry-leading content developed and maintained by a team of experienced risk and compliance experts.
Clients have cited significant value since working with Ncontracts, including a 98% reduction in time spent monitoring suppliers and contracts; 93% reduction in time spent producing risk management reports; 50-80% reduction in time spent on compliance research; 2-3 weeks reduction in time devoted to supplier administration annually; and a 20% reduction in time devoted to daily compliance activities. As a result, the company continues to grow, with more than 500 new clients partnering with Ncontracts last year.
About N contracts
Ncontracts provides integrated risk management and compliance software to a rapidly growing customer base of over 4,000 financial institutions, credit unions and fintechs in the US. The company’s powerful combination of software and services enables financial institutions to achieve their risk management and compliance objectives with an integrated, easy-to-use cloud-based solution suite that encompasses vendor, organizational, audit and compliance risk management. The company was named one of the Inc. 5000 fastest growing private companies in America for the third consecutive year. Visit www.ncontracts.com or follow the company on LinkedIn and Twitter for more information.
Contacts
For non-contracts
Mary York
706-280-9267
[email protected]
