Commerce enablement tech firm NMI has acquired the Agreement Express payments solutions.
According to NMI, the payments solutions include onboarding, underwriting and risk monitoring capabilities designed for current and emerging leaders in financial services.
NMI said that together, the pair’s joint offering enables ISV, ISO and FinTech partners to sign up and monetise merchants more quickly and easily.
Through this acquisition, Agreement Express will expand NMI’s capabilities by providing ISVs, ISOs and FinTech partners with customisable risk scoring, automated data collection, compliance monitoring, ongoing KYC, AML and fraud screenings.
NMI added that this will allow channel partners to easily streamline these processes and grow their merchant portfolios without the heavy lift.
NMI is specifically acquiring Agreement Express’s payments solutions. Frontier Growth, a private equity firm, will continue to own Agreement Express’s wealth management arm of the business.
NMI CEO Vijay Sondhi said, “NMI continues to push the boundaries beyond traditional payments, and this acquisition exemplifies exactly that. Bringing together NMI with Agreement Express addresses market demand for simplifying underwriting and will allow us to deliver more value per merchant to our partners.”
Agreement Express CEO Dave O’Brien added, “Coming together with NMI was a natural fit and creates added value through a new distribution channel to not only our joint partners, but also the broader market. As the payments landscape continues to evolve, companies are looking for new ways to scale with modular solutions and bringing together our solutions provides even more freedom of choice.”
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