Ncontracts Acquires OnSemble Software from Passageways, Inc.
Leader in integrated risk management solutions adds intranet product capabilities to growing portfolio of enterprise platform solutions
Brentwood, TN, November 19, 2021/PRNewswire/ --Ncontracts, a leading provider of integrated risk management solutions for the financial services industry, announced that it 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 about the capabilities this team and product from OnSemble bring to our organization,” said Michael Berman, CEO of Ncontracts. “We’ve seen tremendous appetite for our intranet solution since acquiring BancIntranets 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 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.
Ncontracts provides integrated risk management and compliance software to a rapidly expanding customer base of almost 4,000 financial institutions and mortgage companies 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 that encompasses vendor risk, organizational risk, audit risk, and compliance risk management. The company has been named to the Inc. 5000 fastest-growing private companies in America for the 3rd consecutive year. For more information visit www.ncontracts.com or follow the company on LinkedIn and Twitter.
About OnSemble from Passageways
Started in 2003 at a business school competition at Purdue University, OnSemble is a business unit of Passageways, a SaaS provider of software that inspires and enables teams to do their best work. For nearly twenty years, Passageways’ OnSemble business unit has delivered world-class intranet solutions to midsize consumer services organizations. For more information, visit www.onsembleintranet.com.