Continuity Wraps Up a Strong 2019 with a Strategic Acquisition, the Launch of a New Product and Multiple New Client Signings
New Haven, CT – January 16, 2020—Continuity, a leader in the development and deployment of compliance change management (CMS) and enterprise risk management (ERM) solutions for regulated financial institutions announced a very strong end to 2019. From September through December, the company executed the acquisition of TraceRisk (now Continuity’s RiskAdvisor™), launched the RegAdvisor® State module and signed numerous new clients as well as long-term client renewals. Many of which have expanded their Continuity product portfolio with the addition of RiskAdvisor and RegAdvisor State.
“We could not be more pleased with the immediate growth and expansion born out of the acquisition of TraceRisk, now branded as RiskAdvisor,” stated Mike Nicastro, Continuity’s Chief Executive Officer. Nicastro continued, “In what amounted to a twelve-week period over multiple holidays, the Continuity team signed eight RiskAdvisor contracts. The breadth and immediacy of the impact of the transaction has far exceeded our expectations.”
In September, as a response to the evolution of regulatory oversight becoming more state focused than ever before, Continuity launched the RegAdvisor State module. In discussing the launch, Continuity Chief Revenue Officer, David Bagley stated, the “State module was the right tool and the right time. Both sales and customer acceptance took off like a shot.” As of year-end, the majority of all client renewals and new sales included the “State” module in their portfolio of Continuity products.
Continuity also saw continued growth in its flagship compliance change management suite, which includes RegAdvisor® Pro and RegControls™, with the signings of multiple new clients. In addition to the many new logos added to the client roster, Continuity continued to strengthen its partnership with existing clients. For example, New Dimensions FCU recently contracted to use the new RiskAdvisor product in addition to other Continuity products in the suite.
Catherine Davis, EVP of New Dimensions FCU stated, “We are very comfortable with the Continuity platform. We doubled in size after a merger and were able to onboard our new staff without losing any functionality. Continuity also helps us communicate regulatory changes to our staff in a timely matter. We’re looking forward to the new RiskAdvisor product launch to improve our management of risk assessments and internal controls.”
Mr. Nicastro concluded, “We are very pleased and excited about the continued growth and evolution of Continuity. There are no plans to slow down in 2020. Expect to see both aggressive organic growth and additional acquisitions as we continue the journey.”
New Haven, Connecticut-based 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, Continuity provides a proven way to reduce regulatory burden and mitigate risk at a fraction of the cost. Continuity serves hundreds of institutions across the United States and its territories. Continuity’s risk and compliance product set includes RiskAdvisor, RegAdvisor® Pro, RegAdvisor® State, RegControls™, ControlsBuilder™, Policy and Procedure Management and Vendor Management.
About New Dimensions FCU
New Dimensions FCU began in 1956 and was known then as Notre Dame Waterville Federal Credit Union. Our mission was simple – to provide excellent financial services to members of Notre Dame Church in Waterville. Our charter was comprised of members of the parish of Notre Dame Church and on August 27, 1956, we began operating out of a corridor at the Notre Dame School on Water Street from 6:00 p.m. to 8:00 p.m. on Friday and Saturday.
NDFCU has spent over 60 years working to develop individual relationships with our members. These special relationships enable us to offer creative solutions and products that are not only relevant but uniquely geared to each person’s financial needs. We are humbled every day by the loyalty and opportunity given by our members to furnish the financial strategies and products that enhance their lifestyles. For more information visit: newdimensionsfcu.com
Editor’s Note: This post was originally published to the Continuity site. After the 2022 Mitratech acquisition, the content was moved to the Mitratech site.