Republic Bank Selects SEI Sphere for Cybersecurity

Rhea-AI Summary

SEI (NASDAQ:SEIC) announced that Republic Bank has chosen SEI Sphere for managing its cybersecurity operations. SEI Sphere offers cloud-based cybersecurity solutions aimed at enhancing enterprise technology protection. Republic Bank, based in Philadelphia with over $5 billion in assets, aims to expand its market presence in Pennsylvania, New Jersey, and New York using these services. The partnership is expected to streamline vendor management and improve risk detection and remediation as cyber threats evolve.

Positive

• Republic Bank selected SEI Sphere for enhanced cybersecurity, which may improve its operational efficiency.
• The partnership could support Republic Bank's expansion strategy across Pennsylvania, New Jersey, and New York.

Negative

• None.

OAKS, Pa., March 7, 2022 /PRNewswire/ -- SEI^® (NASDAQ:SEIC) today announced that Republic Bank selected SEI Sphere to manage its cybersecurity operations¹. SEI Sphere provides comprehensive, cloud-based cybersecurity and IT solutions designed to protect and optimize enterprise technology and data, with services including 24x7 security operations, managed detection, response and remediation.

A leading Philadelphia-based bank with 33 stores and more than $5 billion in assets, Republic Bank will leverage SEI Sphere's cybersecurity solutions as it seeks to continue to expand its footprint throughout Pennsylvania, New Jersey and New York.

Republic Bank selected SEI Sphere to consolidate vendors and manage its cybersecurity program by providing visibility across its infrastructure, including email, endpoint and network protection. With the enhanced visibility, SEI Sphere will help to mitigate risk by detecting threats and providing remediation support.

Ryan Hicke, Chief Information Officer at SEI, said:

"As targeted cyberattacks become more advanced and widespread, banks face significant and unrelenting security threats. We are thrilled to partner with Republic Bank, a premier and fast-growing local community institution, to provide cybersecurity that delivers defense in depth and offers peace of mind amid an ever-evolving threat landscape. We look forward to working alongside Republic Bank as they continue to grow their business."

Jack Allison, Senior Vice President and Chief Information Officer of Republic Bank, said:

"From hiring strong talent to identifying effective technologies to training employees on best practices, the banking cybersecurity landscape is fraught with major challenges that can upend even the most advanced businesses. We are excited to engage SEI for a comprehensive cybersecurity solution that will empower us to pursue our growth strategy with confidence that our assets, data, and community reputation are protected."

About SEI Sphere
SEI Sphere provides cybersecurity and IT managed services designed to optimize, secure and support the complex and evolving technology operations needs of today's regulated and data-centric businesses. With a custom business solution, SEI Sphere offers direct access to a team of certified experts, as well as data hosting, infrastructure, cybersecurity, network operations, and other core IT services needed to thrive in the digital era. With more than 50 years of providing leading financial technology platforms and solutions, SEI enables clients to focus on strategic initiatives and future business growth. For more information, visit seic.com/sphere.

About SEI^®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of Dec. 31, 2021, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.

About Republic Bank
Republic Bank is the operating name for Republic First Bank. Republic First Bank is a full-service, state-chartered commercial bank, whose deposits are insured up to the applicable limits by the Federal Deposit Insurance Corporation (FDIC). The Bank provides diversified financial products through its 33 offices located in Atlantic, Burlington, Camden and Gloucester Counties in New Jersey; Bucks, Delaware, Montgomery and Philadelphia Counties in Pennsylvania and New York County in New York. The bank also offers a wide range of residential mortgage products through its mortgage division, Oak Mortgage Company. For more information about Republic Bank, please visit www.myrepublicbank.com.

¹ Republic Bank became a client of SEI Sphere in the fourth quarter of 2021.

Company Contact:	Media Contact:
Netanel Spero	Kristina Pereira Tully
SEI	Vested
+1 610-676-4556	+1 650-464-0080
nspero@seic.com	kristina@fullyvested.com

 

View original content:https://www.prnewswire.com/news-releases/republic-bank-selects-sei-sphere-for-cybersecurity-301496756.html

SOURCE SEI Investments Company

FAQ

What did SEI announce on March 7, 2022?

SEI announced that Republic Bank selected SEI Sphere to manage its cybersecurity operations.

How will SEI Sphere benefit Republic Bank?

SEI Sphere will provide cloud-based cybersecurity solutions, improving visibility and risk management across Republic Bank's infrastructure.

What is the relationship between SEI and Republic Bank?

Republic Bank became a client of SEI Sphere in the fourth quarter of 2021, leveraging its cybersecurity solutions.

What services does SEI Sphere offer?

SEI Sphere provides 24x7 security operations, managed detection, response, and remediation.