The acquisition is intended to enhance ACA’s managed services suite via A.I.-enabled surveillance.
ACA Group (ACA), a provider of governance, risk, and compliance (GRC) solutions to the financial services industry, has acquired Encore Compliance (Encore), an A.I. compliance software solutions vendor, officials say.
“This acquisition enhances ACA’s Managed Services suite of people, processes, and technology, adding A.I.-enabled surveillance for expert network chaperoning and research calls to help asset managers and investment advisors comply with SEC, FCA, and ESMA regulations,” according to the announcement.
“Additionally, this technology can enable research teams to create their own expert libraries and identify potential risks in other voice communications subject to heightened regulatory oversight, aimed to strengthen overall compliance controls,” officials add.
“This strategic move not only expands our suite of Managed Services but also underscores our dedication to integrating AI-driven solutions that enhance compliance and operational efficiency for our clients,” says Patrick Olson, CEO, ACA Group, in a prepared statement.
Encore’s technology is available through ACA Group’s managed services team “and as a standalone solution,” Olson adds.
“Our A.I.-enabled services will seamlessly complement ACA’s existing offerings, providing comprehensive and efficient compliance solutions. Together, we are poised to redefine the industry standard for expert call management and compliance risk mitigation,” says Scott DePetris, co-founder, chairman, and CEO of Encore Compliance, in a statement.
Officials declined to disclose financial terms.
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