NMI Acquires Agreement Express’s Payments Solutions
NMI, a leading full commerce enablement technology company, has acquired the Agreement Express payments solutions, including onboarding, underwriting and risk monitoring capabilities designed for current and emerging leaders in financial services. Together, the pair’s joint offering enables ISV, ISO and fintech partners to sign up and monetize merchants more quickly and easily.
With the addition of Agreement Express’s payments solutions, NMI has expanded its full commerce enablement offering to include world-class underwriting and risk monitoring capabilities that substantially enhance its merchant sign-up offering. This acquisition further strengthens NMI’s vision to enable payments from sign-up to pay-out for its channel partners and merchants.
“NMI continues to push the boundaries beyond traditional payments, and this acquisition exemplifies exactly that,” said Vijay Sondhi, CEO of NMI. “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.”
Through this acquisition, Agreement Express will expand NMI’s capabilities by providing ISVs, ISOs and fintech partners with customizable risk scoring, automated data collection, compliance monitoring, ongoing Know Your Customer (KYC), anti-money laundering (AML), and fraud screenings. This will allow channel partners to easily streamline these processes and grow their merchant portfolios without the heavy lift.
“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,” said Dave O’Brien, CEO of Agreement Express. “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.”
Agreement Express is headquartered in Vancouver. NMI welcomes the Agreement Express employees from the payments segment of the business into the NMI family. Berenson & Company served as financial advisor to NMI and DecisionPoint Advisors served as financial advisors to Agreement Express in connection with the transaction. Terms of the acquisition are undisclosed.
NMI is specifically acquiring Agreement Express's payments solutions. Private equity firm Frontier Growth will continue to own Agreement Express's wealth management arm of the business.
This deal follows NMI’s acquisition of IRIS CRM in January. Together, they provide added value for partners by bringing together easy sign-up and onboarding for merchants with the ability to quickly monetize payments. This acquisition of Agreement Express capitalizes on that momentum and demonstrates NMI’s continued growth.