...as Demand for Integrated Risk Management and Compliance Solutions Increases
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Ncontracts, the leading provider of integrated compliance and risk management solutions to the financial industry, realized strong growth last year as demand for governance, risk, and compliance solutions (GRC) with a knowledge-as-a-service (KaaS) focus increased.
Last year, Ncontracts added 218 new customers and grew its revenue by 30 percent, not only demonstrating growth but significant resilience and flexibility as the industry faces unprecedented challenges. Currently, more than 4,000 financial institutions, mortgage companies and fintechs trust Ncontracts for its industry-leading risk and compliance solutions. As the regulatory landscape evolves and becomes more complex, Ncontracts is positioned for continued growth in 2023.
To support growing demand, Ncontracts added to its employee headcount in 2022 and expanded its executive team through several key hires and promotions. Matthew Peace, Shawn McKee and Michelle Amato joined as Chief Financial Officer, Chief Marketing Officer and Chief Sales Officer, respectively. Additionally, Melissa Outlaw was appointed to Chief Customer Officer and Cathy Guthrie to Chief Human Resources Officer. As the industry grapples with ongoing workforce reductions, Ncontracts continues to invest in talent and expand.
A testament to its exceptional team and suite of solutions, Ncontracts received several awards for workplace excellence, distinguishing the company as an industry leader. Last year, the company was recognized by Top Workplaces for Culture Excellence. Ncontracts was also named a Top Workplace by The Tennessean for a second consecutive year and featured on Inc. Magazine’s Annual Best Workplaces list. For the fourth consecutive year, Ncontracts was also named to the Inc. 5000 list, demonstrating its continued growth as the need for expert-backed RegTech solutions remains top of mind for financial institutions and fintechs.
Ncontracts was also selected to demo its Enterprise Risk Management (ERM) system at the renowned FinovateFall 2022 event, where the company demonstrated how financial institutions and fintechs can safely and profitably work together. As more financial institutions partner with fintechs to modernize the customer experience, improve internal efficiencies and generate additional revenue streams, dedicated solutions are critical.
“More organizations are realizing the need for integrated compliance and risk management solutions, and as a result, we continue to see strong growth,” said Michael Berman, CEO of Ncontracts. “Backed by first-rate technology and an incredible team, our mission is to help organizations navigate the increasingly complex risks of today’s operating environment. We are proud of last year’s successes and stand ready to continue supporting our industry.”
Looking ahead, Ncontracts’ solutions will remain in high demand. Most recently, the company released its latest Risk Performance Management (RPM) Suite, combining Ncontracts’ industry-leading solutions for risk, compliance, vendor and findings management. Ncontracts’ latest RPM Suite provides superior solutions that deliver more comprehensive data for quicker decision-making, greater efficiency and the unified culture of risk management and compliance that examiners expect.
About Ncontracts
Ncontracts provides integrated risk management and compliance 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. The company was named to the Inc. 5000 fastest-growing private companies in America for the 4th consecutive year. Visit www.ncontracts.com or follow the company on LinkedIn and Twitter for more information.