BankProv Partners with Cable to Enhance Financial Crime Compliance

Published 7 months ago

BankProv, a future-ready commercial bank known for offering technology-driven banking solutions, has teamed up with Cable, a leading financial crime effectiveness testing platform. This partnership aims to bolster BankProv’s financial crime compliance program with advanced automated financial crime assurance and testing capabilities.

Enhancing Compliance in Financial Industry

BankProv, a trusted advisor and partner to a broad range of niche, technology-driven industries such as renewable energy, fintech, and enterprise value lending, has always put regulatory compliance at the forefront. The integration with Cable reaffirms this commitment, underscoring the bank’s dedication to leverage technology in combating financial crime.

Janine Jakubauskas, Chief Risk Officer at BankProv, emphasized the importance of compliance and the need for proactive measures in testing the effectiveness of financial crime control due to the increasingly complex financial crime landscape and new regulatory requirements. “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,” she said.

Cable’s Innovative Testing Platform

Cable’s comprehensive financial crime effectiveness testing platform equips banks and fintechs digital asset related firms with a suite of tools designed to ensure their regulatory compliance. These tools include automated risk assessments, automated assurance, quality assurance, management information, reporting, and more.

Natasha Vernier, CEO at Cable, highlighted the prevalence of financial crime and the importance of regulatory compliance and effective controls in the current environment. “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,” Vernier stated.

This partnership announcement follows several recent customer wins for Cable, including BHG Financial, a leader in unsecured business and personal loans.

About Cable and BankProv

Cable’s all-in-one effectiveness testing platform provides banks, fintechs, and crypto firms with tools to ensure compliance with financial crime regulations. It offers tech-enabled risk assessments, automated assurance, quality assurance, management information, reporting, and more.

BankProv is a subsidiary of Provident Bancorp, Inc. It is a future-ready commercial bank offering a comprehensive suite of banking products for corporate clients. As a premier Banking-as-a-Service (BaaS) provider, BankProv aims to build financially strong and vibrant communities by investing in the success of their clients. The bank is headquartered in Amesbury, Massachusetts and is the 10th oldest bank in the nation.

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