Neocova
About Neocova
The work made for Neocova runs to 1 verified project since 2020 — mostly ArtificialIntelligence, Data and Analytics.
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Implementation Support Enables Banking Data Solutions Provider
Founded in 2015 in St. Louis, Missouri, Neocova offers fully secure, artificial intelligence (AI)-based and cloud-native data solutions—including multisource unification, advanced business intelligence, and predictive analytics —to banks and credit unions. By removing restrictive contracts and offering modern, secure, and affordable technology, Neocova enables community banks to operate more efficiently and effectively and offer the same products and services as their competitors with the added value of their deep-rooted knowledge and connections in the communities they serve. After initially targeting core conversion opportunities, Neocova pivoted to offer a full suite of AI-driven products to help the small community and regional banks keep pace with their larger digital counterparts by achieving a universal view of their commercial and retail customers so they could target them with the right products and services and grow their revenue. Demand for these new product offerings and the adoption of Neocova’s Fineuron platform exploded, resulting in a strong sales pipeline and a rapidly growing backlog of implementations. Without an agile model for delivering solutions to customers, its product, engineering, and delivery teams were in a “pressure cooker” to meet these commitments while being forced to rely on “old-school principles.” They created and established a more mature delivery process called the Agile Execution Model that they engaged Praxent to help them implement with all of their existing customers and an ever-increasing portfolio of new customers. With Praxent’s help, they were able to accomplish the implementation in just eight weeks and initially roll it out to 13 customers, with more being added on a continual basis. Neocova also was seeking an exceptional long-term, white-label implementation partner to deliver capacity and the necessary expertise on core banking applications as well as to engage with customers to fine-tune the delivery model. This would free its internal team to continue to implement the new solutions and realize revenue much faster. In addition, given the numerous banking systems its team encounters, they were looking to overcome the challenges associated with extracting, analyzing, and mapping data into Neocova Data Format (NDF) for successful ingestion into the Fineuron platform. Today, thanks to Neocova’s new Agile model and with their existing resources and augmented team, they have a clear roadmap for scaling from 13 to 30, gaining the possibility of onboarding as many as four customers a day. Their internal team “loves” the new model and the increased capacity and visibility it provides them and their customers. As demand and revenue continue to increase, they plan to add more Praxent team members, which will enable them to take that number from 30 to 60 to 120 customers and beyond. Credits: Agency: Praxent https://praxent.com/