Continuity, a New Haven, Conn.-based established leader in regulatory technology and compliance management systems (CMS) for financial services organizations, acquired TraceRisk, a Ohio-based provider of cloud-based enterprise risk management (ERM) solutions.
The amount of the deal was not disclosed.
With technical integration efforts now underway, Continuity now connects the strategic aspects of enterprise risk management to the tactical oversight of compliance management on a singular, unified platform.
Launched in 2012, TraceRisk provides an Enterprise Risk Management platform, including 150+ tailored risk assessments plus thousands of key risk indicators, designed specifically for financial institutions.
TraceRisk will now operate as Continuity Risk Management Solutions. Co-founder Derek Yankoff will now serve as the company’s Chief Strategy Officer.
Led by Michael (Mike) Nicastro, Chief Executive Officer, Continuity is a provider of regulatory technology (RegTech) solutions that automate compliance and risk management for banks, credit unions, mortgage companies and fintech firms. By combining regulatory expertise and cloud technology, the company’s solutions are designed to automate all aspects of compliance and risk management, including interpretation of regulatory issuances, intuitive task delegation, risk assessment and vendor management. It serves hundreds of institutions across the United States and its territories.