Case Study: Arvest

The Story

Arvest, a $26 billion-asset bank with more than 230 branch locations was facing a costly dilemma. They had invested in more than 300 teller cash recyclers (TCRs) across their branch network but were struggling with being millions of dollars out of balance, going days behind on reconciliation, machines constantly freezing up, heavy IT support calls, and staff ready to give up on TCRs entirely.

While the benefits of recyclers were clear to Arvest, it was the integration (or lack thereof) with their teller application and banking core that was causing headaches. They had tried a middleware integration recommended by their hardware vendor but were disappointed with the results. The manual process of entering transactions was leading to big reconciliation issues. And, with no visibility into their devices, couldn’t troubleshoot effectively when machines would go down, causing longer wait times and frustrated customers in the branch.

When Kinective came highly recommended from consultants in the banking industry, Arvest jumped at the chance to see if this was the solution they had been looking for to end their TCR issues.

Spoiler alert. Kinective knocked it out of the park.

The Results

Arvest came to Kinective with a huge request—bring to life an effective integration aligned to their tech and retail strategy. Most importantly, it needed to drive hundreds of cash recyclers with no hiccups, added steps, or extra balancing tasks.

Kinective worked closely with Finastra and Arvest to methodically build the integration. Pilot branches were tested to perfect the roll out process and ensure the integration was100% perfect before launching. And, through all this upfront preparation, the entire large-scale branch roll out went live over one weekend without any issues. Literally, not one call or email was made for a support request!

Since the implementation, branch feedback has been extremely positive. Arvest’s TCRs are finally working as expected, with downtimes nearly eliminated.

In fact, the process has gone so well that Arvest added an additional 200+ recyclers to their fleet! Kinective’s iQ analytics solution provided the device health monitoring and visibility needed to troubleshoot machines before breaking down, along with providing step-by-step error handling instructions so branch staff can fix issues quickly on their own.

Even more exciting? Because teller transactions are now tracked automatically, Arvest’s balancing and reconciliation is now complete the same day versus being days and millions of dollars out of balance with their previous solution. With the time savings, cost savings, and process improvement savings, this deployment has been a huge win for one of the biggest banks in the country.