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ACCENTURE PLC

(ACN)
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Arvest Bank Collaborates with Tech Leaders Thought Machine and Accenture for Next Generation Core Banking Platform

09/16/2021 | 10:05am EDT

Arvest Bank (Arvest) announced it is working with Thought Machine and Accenture to adopt a next generation core banking platform to support the bank’s multi-year transformation strategy. Thought Machine’s cloud-native core banking engine, Vault, will provide Arvest with the capabilities to build personalized, real-time banking services. Thought Machine was chosen for its modern approach to developing core banking software – an emphasis on product innovation, faster time-to-market and its cloud-first capabilities were a key factor in selecting Vault. Using Vault, Arvest will be able to offer highly personalized banking services that are available on-demand, helping to deliver superior levels of customer satisfaction. Vault’s core engine at the heart of the bank will help Arvest create superior digital experiences, products and processes to address the needs of customers and for generations to come. Accenture has also been working with middle-market banks to help modernize their core systems and achieve their digital transformation goals across retail, small and medium-sized business, commercial and enterprise capabilities. Accenture is helping Arvest develop and strategically structure its future bank proposition and aiding in the selection of the best-suited ecosystem partners. In addition to a next generation core banking platform, Arvest’s forward-looking digital transformation strategy will include introducing new products, services and experiences to customers to address their digital banking needs and into the future. The multi-year strategy will include innovation in the bank’s emerging payments, digital applications and operational capabilities. Accenture and Thought Machine are collaborating to bring core modernization and cloud-first capabilities to financial institutions of all sizes globally. Accenture is the first systems integration partner to implement Thought Machine in North America, which is where the companies are initially focusing their efforts.


© S&P Capital IQ 2021
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Financials (USD)
Sales 2022 57 289 M - -
Net income 2022 6 527 M - -
Net cash 2022 7 446 M - -
P/E ratio 2022 34,2x
Yield 2022 1,12%
Capitalization 219 B 219 B -
EV / Sales 2022 3,70x
EV / Sales 2023 3,39x
Nbr of Employees 624 000
Free-Float 96,2%
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Last Close Price 347,12 $
Average target price 369,59 $
Spread / Average Target 6,47%
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Julie Spellman Sweet Chairman & Chief Executive Officer
KC McClure Chief Financial Officer
Paul R. Daugherty Group Chief Executive Officer-Technology Division
Penelope Prett Chief Information Officer
Johan G. Deblaere COO & Chief Executive-Europe
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