FREDERICK, Md. (11/30/12)--NeighborBench, which provides advanced compliance solutions for credit unions, has acquired Utah-based Counter Risk Group, a compliance consulting firm.
The new organization is being formed as a credit union service organization (CUSO) under the name NB Risk Partners to enable additional parties in the industry to participate more actively in the CUSO's operations.
Counter Risk Group combines real-world experience with pragmatic technical innovation to help hundreds of financial institutions manage regulatory risk, said NeighborBench in a press release.
"Leveraging secure, cloud-based technology to help financial institutions manage risk cost-effectively has been our core goal from the start," said Ken Wolff, CEO of NeighborBench.
"Throughout our 21-year history, Counter Risk Group has had the opportunity to work with credit unions and banks of all sizes," said Kenneth Agle, president/CEO of Counter Risk Group. "Our experience has taught us that managing regulatory risk is a challenge for every financial institution." He noted that his company's team was involved in the original development of NeighborBench's platform.