Atlantic-Pacific Processing Systems NV, Corp. (APPS), a fintech holding company providing software-as-a-service (SaaS) solutions for the financial services and banking sectors, has completed the acquisition of proprietary software developer of compliance solutions Conformance Technologies, Inc.
“The need for rapid real-time underwriting and ongoing, intense fraud risk monitoring in the mortgage, finance, investing sectors, as well as other rapidly expanding SaaS models, is driving our growth initiatives,” said Conformance’s president, Darrel Anderson. “The entire Conformance team is excited about the opportunity to create more innovative technologies, and to open up new markets with expanded product offerings.”
Conformance will continue serving independent sales organizations, merchant services providers, independent software vendors, payment facilitators and other fintech solution providers with technology to automate compliance and underwriting processes.
Conformance has built and deployed an innovative and easy-to-use compliance and monitoring ToolKit platform for businesses who need fast turnaround and complete minute-by-minute data monitoring.
Capital infusion by APPS will fuel growth in new markets where intense interest for Conformance solutions exists. Conformance will become a standalone wholly-owned subsidiary of APPS, with founder Darrel Anderson continuing as president. Terms of the deal were not disclosed.