Intapp acquires employee compliance software firm Paragon Data Labs
Financial services software firm Intapp has acquired Paragon Data Labs, an employee compliance software solution provider, for an undisclosed sum.
Intapp says the acquisition will augment its risk management and compliance offering. Paragon centralises personal trading oversight, employee disclosures, and attestation management to help firms remain aligned with regulations and protect against reputational risk.
The company’s tech presents compliance teams with data that makes it easier to detect anomalies so they can act on personal conflicts of interest and code of ethics violations.
Paragon Data Labs was founded in 2020 by three former BlackRock employees, including Paragon CEO Jefferson Mitchell, who will join Intapp to lead the employee compliance business line.
Intapp will also onboard his team of product, engineering, support, sales, and sales engineering specialists, who the company says bring deep experience in and understanding of the ever-changing compliance environment.
Intapp general manager of risk and compliance Nigel Riley says firms have placed “an increasing focus” on ensuring employees remain compliant with evolving regulatory standards.
He adds Paragon’s capabilities will enable the firm to “address personal regulatory requirements such as SEC code of ethics, personal independence, and employee trade monitoring”.