German American Bank is set to deploy 360factors’ risk and compliance intelligence platform Predict360, which is driven by AI technology.

The Indiana-based bank will utilise compliance management, regulatory change management, document management and audit management in a bid to better serve the customers. German American Bank will also leverage Predict360’s regulatory and business intelligence tools.

German American Bank regulatory compliance specialist Crystal Barnes said: “We are growing at a fast pace and wanted a platform that will be able to serve our growing needs.

“With growth comes an increasing number of clients, locations, and business lines, and we wanted to maintain our high levels of quality service, which meant we needed technology that will allow us to collaborate easily and maintain the high levels of compliance we are known for.

“Deploying Predict360 is another step by us towards becoming a more streamlined and efficient organisation.”

Predict360 solution is designed to predict and reduce operational risks, maintaining regulatory compliance. It integrates all features into a single cloud-based SaaS platform to provide insights to the client.

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360factors CEO Carl McCauley said: “Our technology will streamline compliance processes, automate compliance control workflow, and bring increased visibility for the board of German American Bank as they continue to grow and prosper.”

German American Bank is the banking subsidiary of German American Bancorp. It operates 67 banking locations with around $4bn in assets.

In February, the company signed a deal to acquire Citizens First and its banking subsidiary Citizens First Bank for nearly $68.2m.