Arkansas-based Arvest Bank has entered a five-year partnership with Google Cloud as it looks to accelerate its digital transformation strategy.
The community bank says it plans on overhauling its current IT systems, including migrating its data centres to Google Cloud. It also aims to leverage Google Cloud’s AI and machine learning tools to enhance customer experience and streamline its services.
In September 2021, Arvest Bank selected Thought Machine’s Vault as its new core banking system. It is also working with Accenture for the modernisation of its middle office systems for retail banking and corporate banking.
“The rapid shifts around consumer financial needs and behaviours, along with the expectation for consistent customer engagement across channels, impose unprecedented demands for technology and speed of execution,” says Arvest CEO Kevin Sabin.
“Moving to the cloud is another key component to our transformation.”
Laura Merling, chief transformation and operations officer at Arvest, adds that moving to the cloud will also help drive sustainability and reduce the firm’s carbon footprint.
Serving over 110 communities in Arkansas, Kansas, Missouri and Oklahoma, Arvest Bank manages more than $26 billion in assets. It has a network of more than 200 banking locations and provides loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing.
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