Fidelity National Information Services (FIS), a US-based provider of banking and payments technology solutions, has said that it will acquire Compliance Coach, a company that provides risk assessment software, e-learning and additional tools to enable compliance with applicable laws and regulations.
FIS will assume ownership of Compliance Coach’s flagship products that include Regulatory University, Compliance Risk Indicator (CRI) and Compliance Pal. These solutions currently support approximately 1,500 clients, including several major banks. This acquisition is expected to enhance FIS’ overall compliance strategy.
The transaction is expected to close within the next 30 days and terms of the deal were not announced.
Kay Nichols, executive vice president for channel solutions at FIS, said: “We are very excited to add the regulatory compliance expertise that Compliance Coach brings to 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.”