FAIRMONT, W.Va., Sept 23 — Kobalt Labs, an AI-powered platform that automates risk assessments and compliance workflows for financial institutions, is partnering with MVB Bank, a trusted leader in financial services, to automate manual compliance workflows for fintech partner collaboration, due diligence, ongoing monitoring and marketing compliance. The platform will elevate and streamline the MVB partner experience while simultaneously enhancing MVB’s oversight and risk management capabilities.
Kobalt’s goal is to transform compliance into a scalable, AI-driven capability that addresses increasing regulatory complexity and reduces reliance on manual processes across financial institutions. “If you want to show your regulators you’re doing it right, you have to add consistency and scale with technology,” said CEO and cofounder Kalyani Ramadurgam. “We’re excited to partner with MVB and help them expand and automate their risk oversight.”
Kobalt’s platform supports vendor and fintech partner reviews, analyzes policies and procedures against evolving regulatory expectations, and assists with security and marketing compliance assessments. The system is designed to help banks produce consistent, defensible risk assessments more quickly and with greater clarity. Kobalt’s customers include fintech and banking names such as Chime, Upstart, Zions Bancorp, Emprise Bank, Core Bank and Meriwest Credit Union.
“MVB is committed to being at the forefront of technological innovation, and we’re always looking for fintech innovators like Kobalt who are shaping the future of the industry,” said Larry F. Mazza, CEO and President of MVB Financial. “We share a strong commitment to effective risk oversight and management while meeting regulatory requirements, and we’re confident this partnership will help us do that at scale.”
MVB Bank powers fintech solutions in payments, card issuance, sponsorship lending and online gaming programs for leading fintech companies nationwide, while providing traditional retail and commercial banking services within established markets. MVB’s comprehensive platform includes money movement solutions across all modalities and embedded finance capabilities. MVB combines proven fintech builder/incubator capabilities, innovative culture, regulatory expertise, core banking and AI-driven operational efficiency to enable fintech partners to navigate complex regulatory requirements while accelerating time-to-market.
Kobalt and MVB were introduced by regulatory consulting firm Klaros Group, which works with both companies. “Klaros is focused on helping financial institutions modernize risk and compliance in ways that are practical, regulatorily sound, and operationally impactful,” said Adam Shapiro, co-founder and partner at Klaros Group. “Third-party risk management is one of the areas where banks are under real pressure to do more, faster, and with greater consistency. Kobalt brings a market-leading AI platform to that challenge, and when combined with Klaros’ deep regulatory expertise, it creates a powerful solution for institutions like MVB. Together, we can help banks strengthen oversight, improve efficiency, and reduce the cost and complexity of managing third-party risk.”
Through this partnership, MVB expects to elevate the partner experience and streamline fintech partner reviews while reinforcing confidence in its ability to consistently meet regulatory expectations.