Metro Bank and b1BANK are deploying AI agents from European AI platform Covecta to streamline end-to-end lending processes. 

Covecta’s agentic AI solution is embedded into existing workflows at financial institutions, according to the company. 

The $8.2 billion b1BANK, which serves Louisiana and Texas, announced in February it would tap Covecta. The bank selected the agents to improve overall operational efficiencies, Chief Executive Jude Melville told FinAi News. 

With AI in place, and operational efficiency in mind, it’s “not just how can we save money, but how can we do more?” Melville said. 

Because Covecta is embedded into existing workflows, deployment is faster, according to b1BANK. That speed allows agents at the bank to go live in just eight weeks.  

One bank workflow Covecta’s agents will streamline is the post-close loan review, Melville said. 

“By starting with high-value controls, like post-close review, and extending into upstream and downstream use cases, we are focused on delivering measurable improvements in capacity, quality and transparency for their operations,” co-founder and CEO of Covecta Scott Wilson said in the February release. 

Covecta’s pricing varies based on required integrations, according to the company. 

More agents deployed

Other financial institutions are also tapping Covecta. Last week, London-based Metro Bank announced it would deploy the tech provider’s agents. 

“Covecta’s AI capabilities will help us to continue to grow in the most efficient way,” Andy Veares, managing director of corporate and commercial at Metro Bank, said in a March 18 release. “This AI solution frees up more time for our corporate and commercial banking experts.”

Metro says bank tasks are finished in 60% to 80% less time with Covecta, and Veares noted the bank expects to increase new loan origination volume in 2026. 

Covecta, founded in 2024, has raised $6.5 million and is backed by Salesforce Ventures, according to Crunchbase. 

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