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CASE STUDY

Arvest Bank
Arvest decreases balancing issues by 100%—now reconciling same day.

“We were losing accounts because TCRs in our drive-through lanes would be down, and customers were sitting 20-30 minutes trying to transact.”
- Jim Cole | CIO, 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.

0

balancing issues

500+

recyclers integrated

1000s

of $$ and hours saved

Products used in case study

Branch Workflow

Automate labor-intensive workflows for cash transactions and improve teller productivity.

Data & Analytics

Business intelligence tools to gain visibility into operations, manage credit risk, and comply with reporting requirements.

Why 2,500+ banks, credit unions, fintechs and cores trust us.

“Kinective has improved our service level in terms of less disruption and fewer resources spent by our support team. Our users give Kinective two thumbs up.”

Lori Winesburg
EVP | Arvest Bank

“Kinective helped us go from 100 days behind on reconciliation and millions of dollars out of balance to balancing same day.”

Jim Cole
CIO | Arvest Bank

Download the Arvest case study pdf.

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. Spoiler alert- we knocked it out of the park.

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