On July 10, Abound Resources, an IBAT endorsed service provider, announced
their acquisition of Sheshunoff Consulting + Solutions' suite of Risk
Management Software products.
In a joint statement, President and CEO Brad Smith stated, "We are
extremely pleased to be able to acquire the leading online Enterprise
Risk Management system (ERM) designed specifically
for the community bank and credit union market. The bRisk suite combines
compliance best practices for BSA, Fact Act, SOX, FDICIA, vendor management,
business continuity planning and internal audit with automated risk
assessments, controls and reporting to provide a comprehensive solution
for bank and credit union compliance - all at a price point that fits a
community institution compliance budget."
Ms. Sheshunoff noted that, "Based on the fit of
our services with theirs and their track record of outstanding client service,
we felt that Abound was our best choice to ensure continued high levels of
service and the best path to a seamless transition for our bank and credit