Modern Banking Systems by Finovifi Signs Core Processing Agreement with Richland State Bank

BIRMINGHAM, Ala. — June 12, 2025 — 

Modern Banking Systems (MBS) by Finovifi today announced that Richland State Bank has selected the MBS core processing platform, joining sister institution Bryant State Bank, which has relied on MBS since 1982. The move continues the ownership group’s consolidation strategy and positions both banks for long-term efficiency and innovation.

With Richland’s legacy core slated for sunset, bank leadership sought a forward-looking solution that could deliver operational consistency, proven performance, and responsive support. Leveraging four decades of positive experience at Bryant, the group decided to bring both institutions onto a single, modern platform—prioritizing streamlined operations, regulatory readiness, and scalability for future growth.

The deployment showcases MBS’s flexible architecture: Richland will maintain in-house processing while Bryant continues to utilize MBS’s Service Bureau model. This hybrid configuration underscores MBS’s commitment to meeting community banks where they are.

More Than Core: A Modern Banking Ecosystem

MBS by Finovifi delivers a full suite of banking technology solutions tailored to community financial institutions:

• AI-Powered Check Fraud Detection & Elder Exploitation Monitoring
• Compliance Automation & BSA/AML Platforms
• Dark Web Monitoring & Customer Risk Analytics
• Robust Digital Banking & Mobile-First Experiences

The MBS 2025 roadmap includes GUI modernization, expanded open-banking APIs, and enhanced data-analytics tools—helping community banks compete and thrive in a rapidly evolving market.

“Richland State Bank’s adoption of the MBS platform reflects not just the strength of our technology, but the trust earned through decades of consistent performance,” said Bob Neville, executive vice president of Finovifi. “We’re honored to extend our partnership with the ownership group and provide both institutions with a unified, efficient, and forward-looking core experience.”

About Richland State Bank

Founded in 1913, Richland State Bank has served generations of customers across South Dakota with integrity, agility, and a customer-first mission.

About Finovifi and Modern Banking Systems

Modern Banking Systems by Finovifi provides next-generation core processing solutions purpose-built for community banks. With 60 years of experience, MBS by Finovifi delivers high-touch service, AI-enhanced capabilities, and seamless integration with digital banking, fraud prevention, compliance, and payments infrastructure. Learn more at www.finovifi.com.