BankProv Partners with Cable for Automated Financial Crime Effectiveness Testing

Rhea-AI Summary

BankProv selects Cable to enhance its financial crime compliance program with automated testing capabilities.

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• BankProv selects Cable to enhance its financial crime compliance program with cutting-edge automated financial crime assurance and testing capabilities.

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SAN FRANCISCO--(BUSINESS WIRE)-- Cable, provider of the leading financial crime effectiveness testing platform, today announced that BankProv, a future-ready commercial bank that offers technology-driven banking solutions to its clients, has selected Cable to further enhance its financial crime compliance program with cutting-edge automated financial crime assurance and testing capabilities.

As a premier Banking-as-a-Service (BaaS) provider specializing in technology-driven banking solutions to niche markets, BankProv is a trusted advisor and partner to a wide range of niche, technology-driven industries including renewable energy, fintech and enterprise value lending. This integration with Cable further strengthens BankProv’s commitment to regulatory compliance and dedication to leveraging the power of technology in the fight to reduce financial crime.

“Compliance is a high priority at BankProv, and given the increasingly complex financial crime landscape coupled with new regulations, we’ve taken proactive measures to test financial crime control effectiveness,” said Janine Jakubauskas, Chief Risk Officer at BankProv. "We believe Cable’s methodical and innovative approach to effectiveness testing complements our focus on delivering ​​technology-driven banking solutions that create financially strong businesses and communities.”

Cable's all-in-one financial crime effectiveness testing platform gives banks and fintechs digital asset related firms more confidence in their financial crime regulatory compliance with a purpose-built suite of tools, including automated risk assessments, automated assurance, quality assurance, management information, reporting, and more.

"Financial crime driven by sophisticated criminals has become more prevalent than ever before. This environment has put regulatory compliance and effective controls front and center in regulators' minds,” said Natasha Vernier, CEO at Cable. “We’re proud to partner with BankProv to support their efforts and ultimately extend our mission to ​​reduce financial crime through an innovative, data-driven approach.”

This partnership comes on the heels of a handful of additional customer wins for Cable including BHG Financial, the leader in unsecured business and personal loans.

To learn more about Cable and its all-in-one financial crime effectiveness testing platform, visit https://cable.tech.

About Cable

Cable’s all-in-one effectiveness testing platform offers banks, fintechs, and crypto firms a purpose-built suite of tools to ensure compliance with financial crime requirements, including tech-enabled risk assessments, automated assurance, quality assurance, management information, reporting, and more. To learn more, visit www.cable.tech or follow us on X (formerly Twitter) @cabledottech and LinkedIn.

About BankProv

BankProv is a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC). BankProv is a future-ready commercial bank that offers a comprehensive suite of banking products for corporate clients. As a premier Banking-as-a-Service (BaaS) provider specializing in technology-driven banking solutions to niche markets, the Bank seeks to build financially strong and vibrant communities by investing in the success of their clients through understanding and solving their unique business needs. BankProv is a trusted advisor and partner to a wide range of niche, technology-driven industries including renewable energy, fintech and enterprise value lending. Headquartered in Amesbury, Massachusetts, BankProv is the 10^th oldest bank in the nation. The Bank insures 100% of deposits through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). To learn more about the organization, visit bankprov.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231027237346/en/

Taylor Odekirk

Walker Sands for Cable

cable@walkersands.com

Source: Cable

What is BankProv's focus?

BankProv is a future-ready commercial bank that offers technology-driven banking solutions to its clients.

What does Cable provide?

Cable provides the leading financial crime effectiveness testing platform.

What are the benefits of the partnership?

The partnership allows BankProv to enhance its financial crime compliance program with automated testing capabilities.