Arvest Bank announced on Thursday a five-year partnership with Google Cloud to enable and accelerate its multi-year digital transformation strategy.
Through this partnership, Arvest said it will use Google Cloud services to:
Advance digital banking by using artificial and machine learning tools, other technology and products and services such as Contact Center AI Insights to improve customer experience and streamline services.
Build business agility to meet the changing needs of retail and commercial customers by using Document AI to advance commercial lending decisions, AI tools to help meet regulatory requirements and more.
Offer training and certification opportunities for its employees on Google Cloud’s tools and services.
Drive sustainability by decreasing its data center carbon footprint via cloud migration.
This announcement follows the banks partnership with Thought Machine and former Google executive Laura Merling joining Arvest as its chief transformation and operations officer to lead its full-scale transformation, technology and operations.
“The disruption in the financial services industry has only just begun,” Merling said in a news release. “Data, insights and artificial intelligence are the foundation for that disruption, from reshaping credit risk modeling and better supporting underserved communities, to rethinking data-driven relationship management.
Collaborating with Google Cloud will give Arvest “access to the best tools, technologies and expertise to deliver community banking in a digital world” and allow it to become more sustainable, she said.
President and CEO Kevin Sabin added, “The rapid shifts around consumer financial needs and behaviors, along with the expectation for consistent customer engagement across channels, impose unprecedented demands for technology and speed of execution,”
Janet Kennedy, vice president in North America for Google Cloud, said it sees “great value in leveraging the combination of Google Cloud’s leading experience in artificial intelligence and Arvest’s knowledge and expertise in community banking to establish a better approach to serving customers.”