InfoSight and AffirmX have had many discussions about the value of the AffirmX compliance solution and how it provides a new dimension to the process of staying compliant and could enhance InfoSight’s online compliance website. While we can neither confirm nor deny that any such agreements around the acquisition of AffirmX were discussed, we can confirm that in our independent demos with many of the leagues that make up the InfoSight Board of Directors, we were found to be the solution of choice and AffirmX even has separate, direct agreements with some of those states represented on the board. In more than one case, AffirmX has been referred to as “the Cadillac of compliance solutions” for credit unions.
In terms of attempted acquisitions, we can confirm that no less than 7 acquisition inquiries were made of us during our first year of supporting our live cloud-based platform. This is due to the disruptive nature of our solution in the industry, as it revolutionizes the way compliance-related activities are audited. As compared with a traditional league or independent “boots-on-the-ground” model, our platform improves efficiency, increases insight into what is happening in the field, reduces expense and eliminates the need for frequent onsite personnel. We can assure you that at the time of the writing of this blog posting, AffirmX has chosen to not entertain these acquisition offers any further. We are committed to staying in the game to help credit unions in every way possible.