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Core Provider

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  • Functionality & Response to Areas of Focus

  • Quick Facts

Functionality & Response to Areas of Focus

Core Functionality

Ambios: A full core replacement, including deposit and loan management, general ledger, client management, product management, operational functions, advanced cybersecurity, identity management, advanced automation features and regulatory reporting. Ambios offers a highly advanced and secure core banking solution at a significant cost savings compared to legacy core providers. The open API platform Ambios is built on can be configured and operational in a fraction of the time as those from legacy providers and offers unmatched flexibility for third-party integrations.

The Platform: A fully secure, cloud-native and open API enterprise technology platform designed to support modern banking requirements that can run in parallel to any bank’s main core. This can be used as Disaster Recovery, as a Sandbox for testing, or for any data warehouse/ data standardization/reporting needs. The platform serves as the base of all of Neocova’s products and solutions, which adds unparalleled security, adaptability and flexibility to each offering.

Customer Insights: A best-in-class, out-of-the-box solution for analyzing your customer data. This includes both structured and unstructured data storage, automated business and regulatory reports, direct API access to the data storage platforms and multiple interfaces to a variety of standard reporting platforms. The customer insights tool also offers a full and real-time dashboard snapshot of your customer base, their profitability and their sentiment measure.

Neocova also offers BSA/AML and KYC solutions.

Firm's Response to Core Committee's Key Areas of Focus

Neocova states that data is customers’ data. Neocova implements industry leading practices and protocols for data security and data sharing.

Neocova states that all of their products and solutions are built on a fully secure, open API platform to provide speed and flexibility for authorized third party integrations.

(Including Exclusivity, Coterminous Contracts, Deconversion Fees, Limitation of Liability, SLAs and Early Termination Penalties)

Neocova states the following: 

  • No exclusivity provisions.
  • Detailed SLAs and remedies included in all contracts.
  • 1 year contracts with 5 year fixed pricing.
  • No early termination fees.

Quick Facts

Quick Facts
Headquarters LocationSt. Louis, Missouri
Year Established2019
Ownership ModelPrivate
Regionally Focused or NationalNationwide
Number of Cores Offered1
Name of Core SolutionAmbios
Number of US Banks on the Core0
If not currently in market, plans to operate in the U.S. by 2021? If not, when? 
Full expectation to have initial U.S. banking clients on the Ambios Core in 2020.
FunctionalityFull core offering including deposit and loan management, general ledger, client management, product management, operational functions, advanced automation features and regulatory reporting.
Target Bank Asset Size$250 million to $10 billion
Business StrategyNeocova states they focus on providing modern, affordable and secure core banking, artificial intelligence and regulatory technology to small to midsize financial institutions. Continue implementation of costeffective, non-restrictive and advanced technology solutions for early adopters. Add quick and direct value to these early adopters to inspire fast followers.