Finastra has announced that Cache Valley Bank has expanded its collaboration with the financial software provider, gaining increased flexibility and agility through its cloud-based solutions.

The bank will leverage Finastra Phoenix for its core, Finastra Digital Banking for consumer and business mobile banking, and a suite of ancillary solutions to enhance its operations and future-proof its technology stack.

Cache Valley Bank expanded its relationship with Finastra to modernise its core banking infrastructure and to reinvent its business with increased efficiencies across its operations.

The bank is enhancing its Finastra core solution while replacing its digital banking infrastructure with Finastra’s robust end-user engagement platform, making it well-positioned to quickly and efficiently adapt to emerging opportunities and to better deliver an enhanced user experience for businesses and consumers across the markets it serves.

The bank has a vision to migrate all on-premises software to the cloud over time

Mike Lemon, chief financial officer at Cache Valley Bank, commented: “For more than two decades, we have worked with Finastra to power our bank through their innovative, thoughtful, and efficient solutions. When it came time to seek a new partner for our digital banking needs, we knew it made sense to expand our relationship with Finastra, as they offer the experience, stability, and access to innovation we need to deliver an enhanced customer experience.”

Finastra Phoenix and Digital Banking support this goal and are designed to seamlessly migrate to the cloud, enabling the optimisation of back-office resources and architecture.

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Swathy Parthasarathy, chief operating officer, Universal Banking at Finastra, said: “To enable future growth, Cache Valley Bank needed an intuitive and user-friendly tech stack powered by the latest innovations in financial services. Our core solution, digital banking, and our overall suite of services give the bank the agility and innovative capabilities needed to continue to be a leader in the market, grow its footprint, and increase efficiencies. We’re honoured to be a part of their growth journey.”