Arvest Bank picks Lodo Software to update online services
Arvest Bank has entered into a deal with personal financial management (PFM) software provider Lodo Software to deliver its PFM and customer analytics capabilities.
Lodo's technology will offer Arvest with an improved online experience that allows bank customers to monitor and manage their finances with greater control.
In addition to the online services deal, the bank has taken an equity position in Lodo and has joined the company's advisory board to help guide the future direction of Lodo products.
Lodo's OurCashFlow PFM is designed to be bank-branded and hosted, and can be operated by a single institution or by a bank holding company on behalf of multiple institutions.
The key features of the software involve monitoring account balances and transactions, categorising spending and net worth, creating and managing budgets.
The software can be grouped within a tab or embedded as standalone functions within online banking sites.
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