Financial services provider Arvest Bank has inked a contract with Lodo Software, a provider of personal financial management (PFM) software for banks and credit unions, to update their online offering by leveraging the latter’s PFM and customer analytics capabilities.

Lodo’s OurCashFlow PFM main features include monitoring account balances and transactions, categorizing spending and net worth, creating and managing budgets. The software can be operated by a single institution or by a bank holding company on behalf of multiple institutions.

The OurCashFlow PFM is backed by Lodo’s FI Dashboard, a cross-selling tool which captures data about PFM users including assets, accounts, transactions, budgets, savings goals and spending activity. The software organizes and analyzes the information, enabling financial institutions to provide customised products and services.

The new service will help Arvest deliver a customised online experience which enables bank customers to monitor and manage their finances. In addition, the bank has also become a member of Lodo’s advisory board.

Arvest Bank operates more than 230 bank branches across the US. The company provides a range of banking services including loans, deposits, treasury management, asset and wealth management, life insurance, credit cards, mortgage loans and mortgage servicing.