FRS to buy Providus compliance software

FRS, a division of S1 Corporation, is to buy the Providus risk management and compliance arm of Zions Bancorporation for $800,000.

FRS will offer the Providus Risk Resolve compliance software as part of its FinancialAnalytics product suite. Risk Resolve was released in 2003 in response to new rules on institutional risk contained in the Basel II and Sarbanes-Oxley frameworks.

The company expects rapid growth in the market in the next four years.

FRS will pay $800,000 cash for Providus' intellectual property and customers, and some of its assets and executives. It will also pay an undetermined earn-out based on licence sales. Existing Risk Resolve customers include Calyon, the National Bank of Canada, and the Union Bank of California.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Chartis RiskTech100® 2024

The latest iteration of the Chartis RiskTech100®, a comprehensive independent study of the world’s major players in risk and compliance technology, is acknowledged as the go-to for clear, accurate analysis of the risk technology marketplace. With its…

T+1: complacency before the storm?

This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here