Paducah Bank Selects SEI Sphere for Cybersecurity

OAKS, Pa., Nov. 10, 2021 – SEI (NASDAQ:SEIC) today announced that Paducah Bank selected SEI Sphere to enhance their cybersecurity posture and technical operations. SEI Sphere provides comprehensive cybersecurity and IT solutions through a cloud-based infrastructure that optimizes and seeks to protect clients’ enterprise technology and data. 

“Financial services firms are facing unrelenting and sophisticated cybersecurity threats, making it crucial that they have the right program and structure in place to protect their data, assets and reputation,” said Steve Bomberger, Head of SEI Sphere. “We’re excited to partner with Paducah Bank to deliver enterprise-wide operational security and managed IT solutions that address precisely these challenges, while positioning them to securely grow their businesses.”

SEI Sphere enhances cybersecurity and improves network operations by helping to protect small-to-midsize financial institutions across their entire digital surface area. Leveraging a suite of cloud-based solutions, SEI Sphere delivers:

• 24/7 cybersecurity protection
• Always-on managed detection through remediation
• Sophisticated network operations and architecture 
• Actionable threat and security intelligence
• Core cybersecurity processes and practices across endpoints

“When we looked to expand our regional footprint, we found that our existing IT infrastructure was an impediment, and the time and effort required of our internal team to fix it kept them from contributing to our growth,” said Kelly LeNeave, Senior Vice President at Paducah Bank. “In partnership with our team, SEI re-architected our network and security designs with new technology solutions, allowing us to pursue our growth strategy with confidence.” 

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

After 50 years in business, SEI (NASDAQ:SEIC) remains a leading global provider of investment processing, investment management, and investment operations solutions designed to help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of Sept. 30, 2021, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers approximately $1.3 trillion in hedge, private equity, mutual fund and pooled or separately managed assets, including approximately $392 billion in assets under management and $866 billion in client assets under administration. 

About Paducah Bank

Paducah Bank is an award-winning, locally owned bank with banking centers in six locations in Paducah and Louisville and employs more than 130 people. Paducah Bank received a 5-star rating from BauerFinancial, the nation’s premier bank rating firm. In June, Paducah Bank was notified that it had earned the highest rating that BauerFinancial awards! The bank has earned this 5-star rating for 44 consecutive quarters! The bank also received the distinction of exceptional performance bank, a status reserved for banks that have earned Bauer’s highest rating for 10 consecutive years!  Paducah Bank was named as the #1 Best Place to Work in Kentucky among medium-sized companies and was chosen by the Wall Street Journal as one of the nation’s Top 15 Small Workplaces.  They were named Best Bank in the Paducah Sun Readers’ Choice Awards from 2012-2021 and have won the Louisville Mayor's Worksite Wellness Award numerous times. In 2019, Paducah Bank won the Governor’s Service Award and earlier this year won three Telly Awards.

The opinions and views in this document are of SEI only and are subject to change. They should not be construed as investment advice or a recommendation.

While the information contained in this document has been provided by SEI in good faith, no warranty is given as to its accuracy or completeness.

This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission.  In some cases you can identify forward-looking statements by terminology, such as ‘'may,’' '‘will,’' ‘'expect,’' ‘'believe’,' ‘'continue’' or ‘‘intend.’’ SEI’s forward-looking statements include its current expectations as to:
•    the timing of and SEI’s ability to integrate acquisition targets and the benefits it will receive from any of its acquisitions, 
•    whether SEI will provide large institutional investors and asset owners with a complete front-to-back-office solution across all asset classes, 
•    the degree to which the geographic footprint of the acquired entity’s offices will continue,
•    whether the combination of services and technologies will meet or achieve the perceived client needs, and
•    the degree to which acquired assets will support, enhance or develop any of SEI’s existing technologies, applications or services.

You should not place undue reliance on SEI’s forward-looking statements, as they are based on the current beliefs and expectations of its management and subject to significant risks and uncertainties, many of which are beyond SEI’s control or are subject to change. Although SEI’s management believes the assumptions upon which it based its forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in SEI’s forward-looking statements can be found in the “Risk Factors” section of SEI’s Annual Report on Form 10-K for the year ended Dec. 31, 2020, filed with the Securities and Exchange Commission.  There may be additional risks that SEI does not presently know or that it currently believe are immaterial which could also cause actual results to differ from those contained in its forward-looking statements.  SEI does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.