Vakacherla named chief technology/innovation officer at Provident Bank

Bank officials: Hiring underscores company’s commitment to technology, innovation and building for future

In a hiring that reflects the bank’s commitment to the technology and innovation that is driving the sector, Provident Bank announced Monday that it has hired Ravi Vakacherla as its chief digital and innovation officer.

In this role, Vakacherla will be a member of the executive leadership team and will be responsible for the bank’s digital initiatives, including strategy, data analytics, innovation, fintech partnerships, information technology — and driving the core vendor relationships.

In addition, Vakacherla will work closely with the executive team on advancing the customer experience and creating value through enhanced digital tools and platforms, product offerings, analytics, services and technologies, while also partnering with innovative third-party solution providers.

Provident CEO Anthony Labozzetta said Vakacherla will be a key addition.

“Ravi is highly regarded in his field, he has a collaborative style and approach, and is skilled at bringing people and processes together and creating high-performing and unified teams who achieve results,” he said.

He brings with him exceptional breadth and depth of experience helping to build out technology and digital platforms during periods of high growth.

Prior to joining Provident, Vakacherla served as chief transformation officer with People’s United Bank. Before that, he was responsible for product management, operations and digital at People’s United. During his 17 years with People’s, he held leadership positions of increased responsibility and played an integral role in leading and building out the technology foundation to support the bank’s expansion through 12 acquisitions, growing from $9 billion in assets to more than $65 billion in assets.

Vakacherla holds a bachelor’s degree in electrical and electronic engineering from Jawaharlal Nehru Technological University and a master’s degree in computer science from Midwestern State University.