Arvest Bank collaborates with Google Cloud to transform community banking

The partnership will accelerate Arvest Bank digital transformation strategy focused on AI, sustainability and workforce development

Fayetteville, Ark., July 21, 2022 /PRNewswire/ — Arvest Banka leading community bank with over $26 billion of assets, today announced a five-year partnership with Google Cloud to activate and accelerate its multi-year digital transformation strategy. The announcement follows that of the bank Partnership with technology leader Thought Machine, and comes on the heels of its announcement this growth strategist Laura Merlin joined Arvest to lead transformation, technology and banking operations.

Arvest will overhaul its current IT architecture and systems, including migrating Arvest’s data centers to Google Cloud and undertaking large-scale digital transformation. The bank will also leverage Google Cloud’s artificial intelligence (AI) and machine learning (ML) tools to improve customer experience and streamline banking services.

“The rapidly changing financial needs and behaviors of consumers, as well as the expectation of consistent customer engagement across all channels, place unprecedented demands on technology and speed of execution,” said the CEO of Arvest. Kevin Sabin. “Moving to the cloud is another key part of our transformation.”

Through this partnership, Arvest will use Google Cloud services to focus on the following strategic imperatives:

  • Advance digital banking using AI tools, technologies and solutions such as Contact Center AI Insights (CCAI) to improve the contact center experience
  • Strengthen business agility to meet the changing needs of retail and commercial customers; to use Documentary AI to advance commercial lending decisions, to use AI tools to help meet regulatory requirements
  • Provide training and certification opportunities to Arvest employees on Google Cloud tools and services
  • Drive sustainability by reducing Arvest’s data center carbon footprint through cloud migration

“The disruption of the financial services sector has only just begun,” said Laura Merlin, Arvest Bank Director of Transformation and Operations. “Data, insights and artificial intelligence are driving this disruption, whether it’s reshaping credit risk modeling and better supporting underserved communities, or rethinking data-based relationship management. Collaborating with Google Cloud means that we will not only have access to the best tools, technologies, and expertise to deliver community banking in a digital world, but we will also be able to foster sustainability and reduce our carbon footprint by moving to the cloud.”

“With its rich history of delivering on its promise to help people find financial solutions for life, Arvest is taking an innovative approach to reinventing and transforming community banking,” said Janet Kennedyvice-president, North America, Google Cloud. “We see great value in leveraging the combination of Google Cloud’s industry-leading experience in artificial intelligence and Arvest’s knowledge and expertise in community banking to establish a better approach to customer service.”

About Arvest
With over $26 billion in assets, Arvest Bank is a leading community financial institution serving more than 110 communities in Arkansas, Kansas, Missouri and Oklahoma. Established in 1961, Arvest Bank is committed to meeting the needs of its more than 830,000 customer households, individuals and professionals, by continuously investing in the digital tools and services that customers have come to expect. Its extensive network of more than 200 banking institutions offers loans, deposits, cash management, credit cards, mortgages and mortgage services as part of its growing list of digital services. Arvest is an Equal Housing Lender and member of the FDIC. To learn more, please visit www.arvest.com.

About Google Cloud
Google Cloud accelerates every organization’s ability to digitally transform their business. We provide enterprise solutions that leverage cutting-edge Google technology, all on the industry’s cleanest cloud. Customers in more than 200 countries and territories turn to Google Cloud as a trusted partner to drive growth and solve their most critical business problems.

THE SOURCE Arvest Bank