07/27/2021 | Press release | Distributed by Public on 07/27/2021 07:45
Arriba Advisors, an advisory firm that provides strategy enablement and cost alignment to clients on a variety of fintech projects, announced that Middletown, Connecticut-based Liberty Bank ($7 billion in assets) has chosen the firm to assist in upgrading its technology to nurture scalable growth and innovate in the digital space.
Established in 1825, Liberty Bank is one of the oldest and largest mutual banks in the country, providing stellar service in commercial banking, cash management, home mortgages, and much more.
But to remain competitive and meet its customers' evolving needs, David Mitchell, Liberty Bank's executive vice president, general manager and chief digital officer, said the bank needed to bolster its digital strategy-and the technology that supports it.
'We knew we had to change in order to compete against nimble challenger banks and digital institutions that don't have the cost structure of brick-and-mortar branches,' said Mitchell. 'I wanted help from someone who specializes in digital transformation and understands the competitive landscape. They're not just consultants at Arriba. They come from the tech side, so they know who the players are, and are well-versed in product quality, implementation, service and culture.'
The team at Arriba Advisors worked closely with Liberty Bank stakeholders to revamp the digital strategy, carefully and thoroughly evaluate multiple technology providers and negotiate favorable contracts on behalf of the bank.
'It's quite a feat to remain in business for almost 200 years while never wavering from your core principles and devotion to the community,' said Tom Russell, co-founder and partner of Arriba Advisors. 'We are thrilled to partner with the leadership team at Liberty Bank to empower their institution with the technology and strategy needed to reach new heights of success.'
About Arriba Advisors
Arriba Advisors brings a fresh approach-built on more than 150 years of combined industry experience-to the technology evaluation and contract negotiation processes for banks and credit unions nationwide. Founded in 2016 with offices in Florida and Texas, the strategic advisory firm provides partner-level engagement to each client on a variety of projects, including technology assessments, vendor evaluations, contract and price negotiations, and much more. For more information, visit arribaadvisors.com, or follow the firm @arriba-advisors on LinkedIn.
About Liberty Bank
Established in 1825, Liberty Bank is Connecticut's largest mutual bank with more than $7 billion in assets and 62 banking offices across Connecticut. As a full-service financial institution, Liberty offers consumer and commercial banking, cash management, home mortgages, business loans, insurance and investment services. Named a 'Top Workplace' for nine consecutive years, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement.