Ncontracts Targets Compliance Crisis with Auditable AI Platform Nquiry

NASHVILLE, Tenn. – May 04, 2026 – Ncontracts, a prominent provider of risk and compliance solutions, today launched Nquiry Ntelligence, an artificial intelligence platform purpose-built for the financial industry. The new tool aims to provide banks, credit unions, mortgage companies, and wealth management firms with fast, accurate, and—most critically—auditable answers to complex regulatory questions, a direct response to the escalating pressures facing compliance departments nationwide.

A New Tool for a Mounting Challenge

Compliance teams within financial institutions are facing a tidal wave of regulatory demands. The sheer volume of rules from a myriad of sources—including federal agencies, state legislatures, the SEC, and quasi-governmental organizations like Fannie Mae and NACHA—has made manual research a slow, expensive, and perilous endeavor. A wrong answer or a missed update can lead to severe penalties, reputational damage, and intense scrutiny from examiners.

Existing solutions have often fallen short. General-purpose AI tools lack the specialized knowledge and regulatory depth required for financial compliance, often producing answers that are unreliable or lack necessary context. At the other end of the spectrum, static digital law libraries require users to sift through mountains of documents, turning a simple question into a multi-hour research project. Nquiry was designed to fill this gap. The platform is trained on 17 years of proprietary Ncontracts compliance data, a vast repository of information verified by former regulators, attorneys, and industry practitioners. This allows the system to move beyond simply retrieving documents to synthesizing information and providing direct answers.

Beyond the Hype: The Quest for Auditable AI

In an era of AI hype, the primary concern for financial institutions remains trust and defensibility. The “Black box” AI systems, which produce answers without explaining their reasoning, are a non-starter in an industry built on accountability. Ncontracts is directly addressing this challenge by making auditability a core feature of Nquiry.

Every answer generated by the platform is accompanied by citations, allowing compliance officers to trace the information back to its source regulation or guidance document. This creates a documented evidence trail that can be presented to auditors, examiners, and internal management. For situations requiring an even higher degree of assurance, Nquiry includes a feature called ‘Compliance Concierge,’ a built-in escalation path that allows users to have an AI-generated response reviewed and validated by one of Ncontracts' credentialed human experts. This “human-in-the-loop” model is widely seen by industry experts as the gold standard for deploying AI in high-stakes environments, blending the speed of technology with the nuanced judgment of human experience.

“Compliance teams should not have to choose between speed and accuracy,” said Michael Berman, CEO at Ncontracts, in the company’s announcement. “Nquiry gives financial organizations the answer they need right now, with the citations and audit trail to defend it, and the expert support to act on it with confidence.”

Navigating a Crowded RegTech Landscape

The launch of Nquiry comes as the Regulatory Technology (RegTech) market is experiencing explosive growth, projected to expand from an estimated $24 billion in 2025 to over $112 billion by 2033. Ncontracts is not alone in recognizing the opportunity to apply AI to compliance challenges. Major players like Wolters Kluwer and Thomson Reuters have also launched AI-powered platforms aimed at helping firms manage regulatory change and obligations. These platforms similarly leverage deep domain expertise and advanced technology to automate and enhance compliance workflows.

However, Ncontracts is betting on its deep specialization and unique service model to stand out. The company's “Knowledge-as-a-Service” (KaaS) approach has long been a differentiator, embedding practitioner expertise directly into its software. With Nquiry, this philosophy is extended to its AI, which is not only trained on financial regulations but is also continuously refined by professionals who understand the practical pressures of an audit or examination. This focus, combined with the integrated human validation via Compliance Concierge, aims to provide a more tailored and trustworthy solution than broader, more generalized platforms might offer.

The Regulator's View: AI Under Scrutiny

The rise of AI in finance has not gone unnoticed by regulators. Agencies like the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the SEC are increasingly focused on how financial institutions govern, test, and monitor their use of artificial intelligence. While specific rules are still evolving, a clear framework of expectations is emerging.

Regulators are emphasizing the importance of robust Model Risk Management (MRM) frameworks, which require firms to validate the accuracy, fairness, and stability of their AI models. There is a growing demand for transparency and explainability, ensuring that firms can understand and justify the decisions made by their algorithms. This regulatory posture makes features like Nquiry’s cited, auditable answers not just a competitive advantage, but a potential prerequisite for future compliance. As global frameworks like the EU AI Act and state-level rules in places like Colorado begin to codify requirements for high-risk AI systems, platforms that have already built in accountability and human oversight will be best positioned to meet the evolving standards of a technologically advanced financial landscape.