Bank Overview:
- A community bank with $2.9 billion in assets.
- Serves Utah and Southern Idaho, USA.
Modernization Effort:
- Upgrading front-to-back office technology with Finastra’s solutions.
- Transition from legacy Sparak core banking system to Phoenix core banking system.
- Implementing Finastra Digital Banking for consumer and business mobile banking.
- Adopting ancillary solutions: Fusion Analytics, enterprise content management, item processing, and rapid wires.
Background:
- Cache Valley Bank is a long-standing customer of Finastra, previously using systems from D+H Corporation (acquired by Vista Equity Partners and merged to form Finastra).
Benefits:
- Access to Finastra’s fintech ecosystem, including partners like Glia for digital automation in customer service.
- Plans to migrate all on-premises software to the cloud.
Statements:
- Mike Lemon, CFO, emphasizes long-term partnership with Finastra and highlights the vendor’s experience, stability, and innovative solutions as reasons for continuing collaboration.
