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Arkansas’ Arvest Bank clouded by Google

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Arkansas’ Arvest Bank clouded by Google


Arvest Financial institution Group, Inc. took one other step towards its digital future this week.

What’s taking place: The Fayetteville-based firm mentioned Thursday it entered right into a five-year take care of Google Cloud to host its information.

  • The financial institution can even use Google Cloud’s synthetic intelligence and machine studying to streamline providers and, it says, create a greater banking expertise each on-line and in particular person.

Why it issues: To remain aggressive and proceed attracting youthful clients who’ve grown up with digital wallets, brick-and-mortar banks are working to maintain up with digital-only “neobanks” like Chime and Varo.

  • Most are digital providers that move to different establishments, however Varo is a nationally chartered financial institution.

Sure, and: Banks create and use loads of information that is pricey to keep up. Investments in {hardware} generally is a deterrent for any firm. Outsourced information providers like Google’s may help companies keep nimble.

Context: Arvest has $26.6 billion in complete property and is the most important financial institution in Arkansas when it comes to deposit market share, with $13.3 billion in deposits as of June 30, 2021.

  • The corporate has greater than 200 banks in Arkansas, Kansas, Missouri and Oklahoma.

What they’re saying: Laura Merling, Arvest’s chief operations and transformation officer, joined the financial institution from Google Cloud earlier this yr.

  • She instructed Axios that one in all Arvest’s information facilities will not be wanted, however staff are getting upskill coaching to keep away from job cuts. A take a look at with Google Cloud and historic Arvest information meant some transactions occurred 30-50% sooner than earlier than, Merling mentioned.

In the meantime, Simmons Financial institution of Pine Bluff began investing in its digital transformation in 2018, Arkansas Enterprise stories, estimated to price $100 million.

  • Its Coin Checking account, aimed toward first-time customers, accounted for greater than 7% of Simmons’ checking accounts within the financial institution’s first quarter.

Go deeper with Axios Professional:



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Arkansas basketball player profile: DJ Wagner

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Arkansas basketball player profile: DJ Wagner


When John Calipari left Kentucky over the offseason to become the next head coach of the Arkansas Razorbacks, he brought three of his players with him, and all three are expected to play big roles with the Hoop Hogs this season.

One of those players is D.J. Wagner, a point guard heading into his second season of college basketball.

Fans got their first look at Wagner during the Razorbacks’ 85-69 win over the No. 1 Kansas Jayhawks on Oct. 25 and he put on quite a show. Wagner led the Hogs in scoring with 24 points and he had four rebounds in 35 minutes of action.

“Just going out there and playing with confidence,” Wagner said after the game. “My teammates, my coaches tell me to go out there and play with confidence. If I’m open, shoot it, so just going out there knowing that they have my back like that, it was easy just to let it go.”

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In Arkansas’ second preseason exhibition game at TCU on Friday, Wagner scored six points on 3-of-9 shooting (0-of-3 3PT) with two rebounds, two assists, one steal and five turnovers.

HawgBeat will profile each key part of Arkansas’ roster ahead of the season. In this profile, we’ll take a closer look at Wagner, what he brings to the table for the Razorbacks, where he needs to improve and where he fits in the rotation.

Wagner’s freshman season at Kentucky was less than ideal, as he battled an ankle injury that took away from his athleticism and burst which, in turn, dropped his draft stock.

Make no mistake, though, Wagner has all the talent and potential necessary to make a huge jump from his freshman to sophomore season and be a force in the Southeastern Conference.

Now in a Razorback uniform, Wagner is healthy and looking to show NBA scouts he has the tools to be effective at the next level…

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Pinion’s 16 lead Arkansas State over Akron 80-75 in OT

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Pinion’s 16 lead Arkansas State over Akron 80-75 in OT


Associated Press

JONESBORO, Ark. (AP) — Joseph Pinion’s 16 points helped Arkansas State defeat Akron 80-75 in overtime on Monday night in a season opener.

Pinion shot 5 for 6, including 4 for 5 from beyond the arc for the Red Wolves (1-0). Derrian Ford scored 15 points and added seven rebounds. Kobe Julien went 6 of 16 from the field (1 for 6 from 3-point range) to finish with 14 points.

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The Zips (0-1) were led by Sharron Young, who posted 15 points. Akron also got 13 points, seven rebounds and two blocks from Josiah Harris. Nate Johnson had 11 points and three steals.

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The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.




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Attorney General Griffin and 30-state coalition announce opioid settlement with Kroger

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Attorney General Griffin and 30-state coalition announce opioid settlement with Kroger


LITTLE ROCK, Ark. (KAIT/Edited News Release) – Arkansas Attorney General Tim Griffin announced Monday, Nov. 4, that Arkansas will receive up to $13,535,086 as its share of a $1.37 billion settlement with Arkansas, 29 other states, and Kroger over its role in the opioid crisis.

“Opioid addiction continues to be a scourge in Arkansas and our nation. I am pleased with this settlement as the funds will go to opioid abatement. I am grateful to the bipartisan coalition of state attorneys general who worked together on behalf of their citizens to hold Kroger accountable,” he said.

Arkansas’s share will be paid over 11 payments through 2034. Kroger has agreed to injunctive relief that requires its pharmacies to monitor, report, and share data about suspicious activity related to opioid prescriptions.

Between 2006 and 2014, Arkansas was flooded with almost 1.5 billion units of addictive opioids. By 2016, Arkansas had the second-highest opioid prescription rate in the nation, with 114.6 opioids being dispersed for every 100 Arkansans.

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In November 2023, Griffin announced a grant of $50 million of the state’s opioid settlement funds to help establish the National Center for Opioid Research & Clinical Effectiveness at Arkansas Children’s Hospital.

You can read the settlement by clicking here.

To report a typo or correction, please click here.



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