Tired of Paying ‘Ransom’ to Core Vendors, Two Small Banks Fund Neocova

Fed up with traditional core-systems vendors’ costs and services, two small banks are taking a page from venture capitalists and financing an upstart core provider.

The State Bank Group in Wonder Lake, Ill., and The Provident Bank in Amesbury, Mass., are backing Neocova, which promises community banks a core platform that uses artificial intelligence and application programming interfaces to help lenders manage deposit accounts and loan products in real time.


Originally Posted to: American Banker