Fintech, regtech, and cybersecurity vendor, CSI has teamed with HuLoop, a provider of an AI-powered, no-code automation platform, to help banks improve efficiency. The partnership will present CSI’s NuPoint Core Banking System to financial institutions, and is designed to help companies manage accounts, transactions, and other banking operations.
NuPoint customers will have access to HuLoop’s Work Intelligence platform, which is designed for community and regional banks. The solution is intended to help them address regulatory overheads and running costs.
Challenges in the sector include customer onboarding and document-based workloads that are prone to errors and can create approval bottlenecks. Employee fatigue from repetitive, low-value tasks in environments with strict compliance necessities can put strain on staff.
HuLoop’s approach combines humans and AI, where intelligent software agents oversee repetitive and mundane tasks. HuLoop’s Todd P. Michaud says, “Human-in-the-loop design ensures that automation enhances people’s work instead of replacing it. Community banks and credit unions are under pressure to grow without adding headcount at the same rate. By integrating HuLoop into CSI’s NuPoint ecosystem, we’re making it easier for institutions to deploy the power of AI automation quickly, securely, and in a regulator-friendly way.”
HuLoop’s no-code platform allows banks to streamline banking operations, unifying productivity discovery, process automation, workflow orchestration, document processing, and automated testing in lending and collection workflows.
Jeremy Hoard, EVP & Chief Banking Officer of Legends Bank, said “It’s helping us automate back-office tasks and improve operational efficiency, which allows our team to focus more on delivering exceptional service to our customers.”
The ultimate goal, according to Jason Young, vice president of product management at CSI, is to help banks get the most out of their core banking systems. “We’re extending NuPoint with proven AI-based automation capabilities that simplify operations […] and help institutions deliver exceptional service.”
(Image source: “Former Rural Bank of NSW, Parkes” by Mattinbgn is licensed under CC BY-SA 2.0.)
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