FRS to Acquire Operational Risk Management/SOX Compliance Solution

FRS has reached a definitive agreement to acquire key assets of Providus Software Solutions, a wholly owned subsidiary of Zions Bancorporation. In a strategic move that will broaden its applications footprint, FRS will offer the Providus Risk Resolve operational risk management application as part of its FRS FinancialAnalytics suite of risk and regulatory compliance products, and complement S1’s Enterprise strategy of providing financial services companies a single view of their customers and business operations. The acquisition will enable S1 and FRS to further enhance their ability to deliver solutions that empower financial institutions to move beyond compliance and support their efforts to protect against operational losses, preserve economic capital and improve their ability to mitigate risks over the long term.


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