Savings bank

The American mutual savings bank Mascoma in full technological overhaul with Thought Machine

UK-based core banking software provider Thought Machine has signed up its second community bank in the US – Mascoma Bank.

Mascoma follows Arkansas-based Arvest, which switched to the provider’s flagship cloud offering, Vault, last year.

Mascoma Bank undergoing a technological overhaul

Mascoma Bank is a mutual savings bank and Certified B Corporation, with offices in New Hampshire, Vermont and Maine. It offers mortgages, checking accounts, loans and business banking services.

Thought Machine says the bank “has signed a license agreement to deploy and migrate its customers to Vault.” The new system will improve the bank’s delivery channels (both digital and physical), explains the supplier, and provide it with a single source of record by bringing all its data together in one place. This will allow Mascoma “to better understand customer relationships and better meet customer needs.”

Clay Adams, President and CEO of Mascoma Bank, said, “We believe modern technology is the key to unlocking superior customer service.

“At Mascoma Bank, we pride ourselves on being different by design – we are embracing modern Thought Machine technology to fulfill our mission to better serve our customers and communities, deliver new products and be a leader in banking community.

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