Aquila today announced the acquisition of Asesorias Computacionales Neosoft SpA. (“Neosoft”), a comprehensive regulatory reporting and compliance management system for banks and financial institutions across Chile and Latin America.

Started in 1993 and headquartered in Santiago, Chile, Neosoft is a category-leading provider of Governance, Risk Management and Compliance (GRC) solutions through its flagship products “SIGIR” and “SGN”. Neosoft offers unmatched financial regulatory knowledge and proprietary back-end technology to help its customers comply timely and accurately with the complex requirements of federal banking authorities.

“We’re delighted to forge a lasting partnership with Neosoft and become a true contributor to the Latin American fintech ecosystem,” stated Daniel Lee, CEO of Aquila. “Aquila pledges to preserve Neosoft’s founding legacy and values that made them exceptional in the first place. Neosoft prides itself on technical expertise and an excellent industry reputation. This is a one-of-a-kind platform acquisition that will open doors to the rest of Latin America as we seek to invest further into the region.”

Erwin Piwonka, CEO of Neosoft said, “The decision to unite with Aquila is a key milestone for the company. It is an impetus for growth, leveraging Aquila’s network to adopt new technologies, enhance our product offering and develop new commercial opportunities throughout LATAM. The leadership team at Neosoft is thrilled to find a permanent home for our clients and employees.”

Neosoft will continue to support its customers and partners as an autonomous business unit of Aquila.