ARMCO, a risk management platform, has received an investment from private equity firm New Capital Partners.
The RegTech offers a variety of mortgage quality control, compliance and transaction risk solutions. Offerings from the company include audit services to assure zero defect loans, automated document management, and anti-fraud services. The company also offers data and document validation software to ensure communications are monitored and compliant.
To support anti-fraud teams, ARMCO supplies a single web-based platform to protect hypersensitive information needed for fraud investigations. The technology tracks all details of the investigation, from process to results, with the capability of identifying trends through custom reports.
Further to this, the user can review the fraud report, communicate with others and generate insights from previous investigations.
New Capital Partners managing director Adam Cranford said, “We are excited to partner with the outstanding team at ARMCO. The team has done a tremendous job building a market-leading product suite and providing best-in-class service and support to their customers.
“Broad use of ACES by top banks, lenders and servicers in the country attests to the strength of the product and the ARMCO professional team. We are looking forward to working with the team to drive continued growth and innovation.”
Berkery Noyes acted as the financial advisor to ARMCO for the deal.
Last month, fellow risk management startup MindBridge closed a Series B on $29.6m to support its bolster its technology. The company utilises AI and machine learning to detect anomalous patterns and activities, unintentional errors and intentional misstatements.
