Ncontracts Named to FinovateFall 2022 Demo Lineup
A first-time presenter, Ncontracts will demo its Enterprise Risk Management (ERM) system to show how fintechs and financial institutions can safely (and profitably) work together. Nrisk is a secure online risk management solution that offers organizations efficiency at every turn, assessing and strengthening compliance and controls in real time for more effective enterprise risk management. With a clear understanding of risk, financial institutions and fintechs can better monitor, report on, and communicate risk internally and externally.
More than ever, financial institutions are eagerly partnering with fintechs to modernize the customer experience, improve internal efficiencies and generate additional revenue streams. In 2019, less than half of financial institutions considered fintech partnerships important, compared to 9 out of 10 today. Additionally, 35% of financial institutions have invested in a fintech startup with the average investment size more than quadrupling over the last three years.
These relationships offer many benefits, but there are also risks for both financial institutions and their fintech partners. Except for 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 selected.
“Financial institutions and fintechs are intertwined, and Nrisk helps them safely and profitably work together,” 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 demo our system at FinovateFall.”
Bill Simpson, CTO of Ncontracts, adds, “Finovate provides an opportunity to showcase the best our industry has to offer. We look forward to showing how Ncontracts can quickly transform the risk posture of these innovators to maximize their value and safeguard their most important relationships.”
Topics: News & Updates