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Bank recognized for innovative collaboration with fintech partner on digital banking app

SOMERSET, Pa. (March 2, 2016) – Somerset Trust Company today announced that it has received Bank Director’s Best of FinXTech Award for its successful partnership with Malauzai Software on the creation of a customized digital banking app. Somerset Trust and Malauzai were among five partnerships to accept this award during Bank Director’s FinTech Day at the NASDAQ MarketSite in New York on March 1.

“In today’s highly competitive landscape, we must continue to innovate; complacency has proven detrimental for community banks,” said John Gill, COO and risk officer of Somerset Trust. “It is great to see Bank Director acknowledging the importance of partnerships in our industry. By aligning with Malauzai, we were able to expand the quality and level of service we provide design a dynamic, intuitive and convenient digital banking app. Our customers are now empowered with true mobility; they have full banking functionality from any location, across any device.”

Through the Best of FinXTech Awards, Bank Director celebrates the efforts made to grow a bank through collaboration and partnerships by and between banks and fintech companies. The award was designed to recognize standout performance based on criteria of innovation, growth by revenue and strength of integration.

Robb Gaynor, CPO of Malauzi, explained, “We’re proud to work with innovative partners such as Somerset Trust, as these collaborative efforts between banks and fintech companies deliver numerous benefits to the overall industry.”

At FinTech Day, Bank Director introduced a new line of business, FinXTech. This new initiative connects key executives and founders of financial technology companies with the decision makers of financial institutions to build stronger, more sustainable relationships that ultimately benefit consumers.

About Somerset Trust

Somerset Trust Company is an independent community bank headquartered in Somerset, Pennsylvania serving residents, businesses and communities in the Laurel Highlands region of Pennsylvania and western Maryland. G. Henry Cook is the bank’s President, CEO and Chairman of the Board. He is the fifth generation of his family to lead the bank which was founded in 1889. Over the last decade, it has been the intent of Somerset Trust Company to broaden and strengthen its community bank franchise. The bank has made substantial progress towards that goal with the help of employees, commitment to the communities served by the bank, and effective utilization of technology. While engaged in expansion activity within its geographic footprint, the bank has managed to produce earnings years that have been the best in the bank’s 126-year history.

About Bank Director

Since 1991, Bank Director has served as a leading information resource for the directors and officers of financial institutions. Through its monthly Bank Director magazine, executive-level research, annual conferences, and its website, BankDirector.com, Bank Director reaches the leaders of the institutions that comprise America’s banking industry. Bank Director is headquartered in Brentwood, Tennessee. More information can be found at www.bankdirector.com or www.finxtech.com.