Banking and payment technology provider FIS announced Monday it will acquire Compliance Coach, Inc., a company that provides risk assessment software, e-learning and additional tools to enable compliance with applicable laws and regulations. The transaction is expected within the next 30 days, though terms of the deal were unannounced.
In the strategic acquisition, FIS will gain ownership of Compliance Coach's products, including Regulatory University, Compliance Risk Indicator and Compliance Pal, which currently support some 1,500 clients, including seven of the top 10 banks within the financial services industry.
"We are very excited to add the regulatory compliance expertise that Compliance Coach brings to FIS," said Kay Nichols, executive vice president, CHannel Solutions, FIS. "We firmly believe that through the addition of Compliance Coach's strengths, FIS will become the market innovator for end-to-end regulatory compliance solutions, integrated training, risk assessments, monitoring, reporting and advice."