Community bank will implement provider's Groundswell AI, Spotlight AI and Fineurontechnology solutions
ST. LOUIS, MO / ACCESSWIRE / March 10, 2021 / Neocova, the St. Louis-based technology provider offering fully secure AI and cloud-first banking products including core, analytics, fraud, and regulatory compliance for community banks and credit unions, today announced that the State Bank of Cherry has chosen Neocova as its technology partner to drive their digital transformation efforts. State Bank of Cherry has signed on for multiple products from Neocova's technology suite, including Groundswell AI, Spotlight AI and Fineuron. Neocova's solutions will help the bank meet the increasing customer demand for digital offerings, which is difficult with legacy technology.
"We were looking for a true technology partner that could help us advance and drive efficiency into our bank's operations, and Neocova fits the bill perfectly," said Dan Wujek, President and CEO at State Bank of Cherry. "Neocova's technology will help us become more data-driven and will set us up to better meet the needs of our current and future customers."
"We're a locally owned financial institution serving the Bureau, LaSalle and Putnam County areas of North Central Illinois. We compete for agricultural, business, home and personal loans every day. This step aligns perfectly with our mission statement ‘to help people be their best and to be a bank for good,'" said Joe Stouffer, Vice President and CFO at State Bank of Cherry. "By allowing our employees to automate daily tasks and create efficiencies utilizing data centralization, we'll be putting them in better positions to offer the superior customer service that we rely on to differentiate ourselves. Further, by embracing the power of digital transformation we're making a statement to our customers, employees and shareholders that we're actively investing in ‘staying power' and committed to creating competitive advantages."
"State Bank of Cherry models the personalized, human approach that community banks are known for, and that is an approach that Neocova wants to support, not replace," said Matt Beecher, CEO of Neocova. "Our products will enable State Bank of Cherry to unlock the value of their customer data, improve detection and classification of BSA/AML cases, and achieve better data governance, hygiene and accessibility - ultimately empowering the bank to do what it does best, which is serve its customers."
Neocova's comprehensive suite of products and services for community financial institutions includes Spotlight AI, a best-in-class analytics tool; Groundswell AI, an artificial intelligence-powered BSA/AML and fraud detection solution; Fineuron, a fully secure, cloud-native, and open API enterprise technology platform; and Ambios, a complete bank core replacement.
"We are thrilled to welcome State Bank of Cherry to the Neocova family," said Aaron Villarreal, Vice President of Sales and Customer Relations at Neocova. "They are an example of how a community financial institution can take real steps toward escaping the constraints of legacy technology and beginning the digital transformation process."
Neocova is a fast-growing, St. Louis-based financial technology firm with operations in New York. The company offers artificial intelligence, analytics, and other cloud-based systems that enable financial institutions to operate more efficiently, effectively, and securely by removing the stresses of managing complex systems and complicated contracts. More information is available at https://neocova.com/.
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