As seen on the Boston Business Journal

By Trajan Warren – Reporter, Boston Business Journal

A Massachusetts-based bank has partnered with a leading tech company to revamp its headquarters using artificial intelligence.

BankFive is working with NWN Carousel to design and implement integrated technology solutions to create an “ultra-modern” banking experience.

NWN Carousel, which provides integrated, managed IT services, will include video collaboration rooms in all conference areas and huddle spaces at BankFive, and will install a new video wall. NWN will also enable AI updates within BankFive’s contact center platform, including an AI agent assistant.

In addition, AI will be used to provide “full observability over services, from anywhere, that ensure an outstanding employee and customer experience,” NWN Carousel said in an email.

The multi-million dollar renovations to BankFive’s Fall River headquarters are expected to be completed by the end of 2024.

Maureen Terranova, senior vice president and chief information office with BankFive, said that the bank’s employees have been hybrid or working fully remote for the last four years. These renovations are a way for the bank to continue working remotely more efficiently and provide a welcoming in-office environment.

“Upgrading our technology with NWN Carousel is an integral part of this renovation project. Everything we are doing is about enhancing the customer experience with world-class banking services,” Terranova said in a statement.

BankFive already uses NWN Carousel’s IT solutions in its banking operations such as visual collaboration, cybersecurity and cloud communications, which helps support the bank’s mobile, online and video banking capabilities.

“By leveraging the power of AI, we’re empowering BankFive to deliver exceptional customer experiences, streamline operations and drive growth. We’re proud to be a part of their journey in serving the community since 1855 and look forward to helping them continue to thrive in an ever-evolving financial landscape,” said NWN Carousel CEO Jim Sullivan in a statement.

BankFive is one of the top SBA lenders in Massachusetts, according to Business Journal data. 

NWN Carousel has 12 offices nationwide with one in Boston. The company was named one of the fastest-growing private companies in Massachusetts by the Boston Business Journal with a 2023 revenue of $925 million.