Huntingdon Valley Bank announced Tuesday that it will use nCino for artificial intelligence (AI)-based loan pricing and profitability modeling.

The Huntingdon Valley, Pa.- based bank’s previous pricing models were inefficient and built around time-intensive manual procedures, Hugh Connelly, executive vice president and chief lending officer at the community bank, said in a release. The nCino solution offers the $536 million community bank real-time data access and an AI-based workflow process, he said.

“Previously, we were using manual-processes — like much of the banking industry — to understand loan pricing and profitability models, which is a completely outdated approach,” Connelly said. “We believed adding an automated model that leveraged artificial intelligence would better position our institution to grow and scale for the future.”

The selection of nCino for automated pricing is an extension of an existing relationship, Will Cameron, senior vice president of community and regional banking at nCino, said in the release.

“HVB has embraced our single platform infrastructure for quite some time, and this is just the next step on their digital transformation journey,” Cameron said.

Republic Bank chooses SEI for cybersecurity

The $5 billion Republic Bank is selecting SEI Sphere to manage and enforce its cybersecurity efforts.

SEI Sphere will provide around-the-clock protection for the Philadelphia-based bank’s email and endpoint networks, along with detecting and remediating threats. SEI will assist the bank’s growth efforts, Jack Allison, senior vice president and chief information officer at Republic Bank, said in a release.

“We are excited to engage SEI for a comprehensive cybersecurity solution that will empower us to pursue our growth strategy with confidence that our assets, data, and community reputation are protected,” Allison said.

De novo Battle Bank selects Finxact for 2022 launch

Eagle County, Colo.-based de novo Battle Bank will use Finxact’s cloud-native core banking system as a base for its branchless financial services, the bank announced last week. Vincent Amato, chief operating officer at the bank, said in a release that the fintech’s open-core model will be “part of our foundation.”

“Finxact is a platform for the business of banking that has empowered Battle Bank to be the author of a bespoke product ecosystem,” Amato said. “This level of control and agility is a competitive advantage.”

The bank is expected to launch in the second half of the year, and will be led by Amato and Frank Trotter, co-founders of everBank, which was acquired by TIAA in 2017.

First National Bank & Trust Company of Okmulgee taps CSI for digital banking

The $293.6 million First National Bank & Trust Company of Okmulgee announced last week that it will use Computer Services Inc.’s (CSI) NuPoint platform for its digital and mobile banking.

The decision was spurred by customer demand and problems with the bank’s previous provider, which burdened the bank with power outages and capability issues, Kyle Powell, president and CEO of the bank, said in a release.

“After speaking with other NuPoint users, it became clear that CSI has the experience and technology needed to meet the evolving needs of our customers,” Powell said. CSI will also deploy its payments and website design capabilities for the bank. Other banks that have recently chosen CSI include Community Spirit Bank, Mt. MicKinley Bank and Cypress Bank & Trust.