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15 Jun, 2022

News Release: Commerce Team Visits BankOnIT, Discusses Plans for OIEP Funding

The following news release below was shared on June 15, 2022.
Media Contact: Dana Adams | dadams@bankonitusa.com

Executives from the Oklahoma Department of Commerce visited BankOnIT in Oklahoma City, to talk with company leadership about its operations and how it will utilize funding through the Oklahoma Innovation Expansion Program (OIEP). BankOnIT was among 123 projects awarded funding through the program from the 2022 application period. The company will utilize funds to contribute to job creation and the purchase additional servers – both allowing them to expand market share.

“I am very proud of the Oklahoma Innovation Expansion Program and how it supports Oklahoma companies,” said Brent Kisling, Executive Director, Oklahoma Department of Commerce. “With the funding, companies are diversifying their operations and growing, creating more jobs and investment in our state and offering an incredible ROI on the state’s investment.”

“The OIEP commitment has helped BankOnIT continue to grow and expand our customer base – reaching larger customers in more diverse markets, which in turn has created new jobs and provided our existing employees with advancement opportunities,” said Krista Finley, Finance Manager, BankOnIT.

Founded in 2003, BankOnIT provides IT support and cloud-based computing to banking institutions. In 2021, the company received a Top Workplace Award from The Oklahoman. Additionally, in 2021, BankOnIT created new jobs and expanded capacity to gain clients in West Virginia, Michigan, and Ohio.

OIEP utilizes funds set aside by the Oklahoma Economic Development Pooled Finance Act (62 OS 891.1 et seq). Participating businesses are required to provide quarterly reports verifying employment levels and expenditures, as well as submit verification of purchase and installation of machinery and equipment. The full list of OIEP recipients can be found on the Commerce website at www.okcommerce.gov/OIEP.

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This publication attempts to provide timely and accurate information concerning the subjects discussed. It is furnished with the understanding that it does not provide legal or other professional services. If legal or other expert assistance is required, the services of a qualified professional should be obtained.

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