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QUALCO relies on Software Improvement Group for the acquisition of Fintech software solutions

21 December 2021

QUALCO relies on Software Improvement Group for the acquisition of Fintech software solutions

Software Improvement Group and Code4Thought assessed the maintainability of the fintech software assets during the acquisition

Amsterdam, December 21, 2021 – Software Improvement Group (SIG), the independent global authority on software assurance, today announced that they contributed to QUALCO’s successful acquisition of Neurosoft’s Confirm and Proxima+ software products.

Together with Code4Thought, SIG’s local partner in Greece and Cyprus, they performed an IT Due Diligence on the maintainability, security, and scalability of the source code underlying both of the software solutions.

The international fintech firm QUALCO, turned to SIG and Code4Thought to identify and quantify hidden investment risks and opportunities. The delivered report included qualitative and quantitative components to show QUALCO how the new software will affect their ability to integrate and accelerate growth.

Spyros Retzekas, Managing Director, QUALCO: “With the acquisition of the Confirm and Proxima+ platforms to our portfolio, we’ll be able to provide our clients with complete solutions within the credit management field. The IT Due Diligence of SIG, performed by its partner Code4Thought, turned out to be crucial in the entire acquisition process. Due to their thorough assessment, we knew we weren’t buying a black box, and that the platforms will integrate seamlessly with our existing software landscape.”

Luc Brandts, CEO of SIG: “At SIG, we know you have to understand what’s going on in the entire source code itself to know with certainty that the software you’re buying can support the organization’s strategic goals. This means a true deep dive which goes beyond interviews with the target company’s IT leaders, review of documentation, and a demo of the software. We’re pleased to have contributed with our IT Due Diligence service to support this transaction. Congratulations to the entire QUALCO team!”

Yiannis Kanellopoulos, Founder and CEO of Code4Thought: “As SIG’s partner, we have the expert personnel and the platform to carry out IT due diligence engagements quickly, efficiently, and effectively. Our assessment is based on facts, not opinions. We’re proud that, together with our partner SIG, we have been selected by QUALCO to help them in their strategic investment.”

More information on SIG IT Due Diligence: 

With more than 20 years of proven experience, QUALCO is a leading Fintech solutions provider enabling clients to realize value through the provision of operational platforms, data insights, digital experiences, and domain knowledge. With headquarters in Greece, full offices in the UK and Cyprus, and a sales presence in several European countries, its dedicated team supports more than 70 clients in over 30 countries worldwide.

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About SIG
Software Improvement Group (SIG) helps organizations trust the technology they depend on. We combine our intelligent technology with our human expertise to dig deep into the build quality of enterprise software and architecture – measuring, monitoring, and benchmarking it against the world’s largest software analysis database.

The SIG software analysis laboratory is the only one in the world accredited according to ISO/IEC 17025 for software quality analysis. Founded in 2000, SIG is headquartered in Amsterdam, with offices in New York, Copenhagen, Antwerp and Frankfurt.

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About Code4Thought
Code4Thought democratizes technology by portraying algorithms transparent and helping organizations become accountable.

The company offers software engineering and AI advisory services. It analyzes and evaluates large-scale enterprise software systems, enabling organizations to address IT-related flaws at the root and manage associated risks and costs. Our solutions aim to improve application health in all stages of the software lifecycle.

The company has offices in Athens and Patra in Greece.

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