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Provident Central Credit Union Delivers Personalized Service with Sagent Insight for Credit Unions

  • April 01 2002, 1:00am EST
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Provident Central Credit Union, with nearly $1 billion in assets, is among the 50 largest credit unions in the United States. Established in 1950 and headquartered in the San Francisco Bay area, Provident serves more than 89,000 members from more than 1,600 employer groups and maintains service centers throughout California and nationwide.

In the highly competitive world of banking and finance, the primary way credit unions distinguish themselves from banks or each other ­– and win members in the process –­ is to offer better, productive and varied services that members can use to make their personal finance decisions easier. Provident maintains a diverse membership. Our older membership really wants a personal touch. However, our younger membership wants immediate access to everything.

Provident wanted to deliver all of the products the members wanted, but we also had to do so economically. We were trying to become a very technologically efficient organization, yet still provide excellent personal service to our membership 24x7.

In order to meet different membership demands and keep spending tight, Provident evaluated the concept of enterprise data warehousing. We were looking to solve several problems. One problem was the efficiency of our staff. We needed a warehouse that could automatically generate all of the required regulatory reports. Typically, it would take one person nearly 20 days every three months to create such reports, as they came from 20 disparate sources. With Sagent, it now takes one afternoon to generate nearly 60 percent of the required material for this report.

Another challenge was providing profitability analysis for Provident's membership so that we could have an automatic credit scoring system with each member's information available to him or her via the Internet.

To help build the enterprise data warehouse, Provident selected Sagent Insight for Credit Unions. Sagent's rapid implementation process allowed Provident to quickly and efficiently deliver personalized service, provide product price breaks, customize offerings and respond faster than ever to its growing membership.

Provident chose Sagent for many reasons. Among the reasons, and probably one of the most important, was that Sagent had an extraction tool with automatic load capability ­– i.e., the ability to be able to access data throughout the credit union using the Web. Equally important was the ease of use for the end user. By using Sagent, employees are able to push reports and plans to all the service centers and departments. The departments can then write their own reports and plans.

Provident IT staff and Sagent consultants implemented Sagent Information Studio, Design Studio, Address Cleanser, Report Wizard, Data Access Load Server, Web Link and Automation Tool in less than 120 days, completing the development of Provident's new enterprise data warehouse. All Provident personnel have access to the warehouse either through Web Link or Design Studio.

Provident's data warehouse requirements included access to information about all members, accounts and products in the warehouse required by business decision-makers and an integrated view of the business through a single entry point.

Using Sagent Insight for Credit Unions, Provident is now able to perform complex analytical problem solving by accessing and integrating data from various internal customer information sources and incorporating external demographic data. This bolsters our strategic decision-making capabilities by being able to immediately form a complete view of the customer, as well as provide a complete financial view of our operations. Now that we have the ability to simultaneously retrieve comprehensive customer and financial information, Provident can conduct effective and cost-efficient one-to-one marketing campaigns to offer new and customized products, as well as grow primary financial institution acceptance from our members. By doing so, Provident will cut costs, increase profits, provide reports to decision-makers more quickly and account information to members immediately.

The incorporation of Sagent's integrated data warehouse platform technology, prebuilt data models specifically for credit union business intelligence and many reports allowed Sagent to effectively and efficiently deliver a complete solution for Provident's business needs.

Sagent Insight for Credit Unions is an enterprise-level BI solution that addresses the specific CRM needs of credit unions. It enables decision-makers to access, capture and transform transaction data into actionable information. It is a model-driven application specifically designed to address key business activities around customer acquisition, retention and profitability.

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