REVIEWER: Calvin Bierley, market research analyst for BECU.
BACKGROUND: Founded in 1935, BECU (formally known as Boeing Employees’ Credit Union) is the fourth largest credit union in the country with over 640,000 members. BECU now has approximately 1,000 employees who are predominantly located in the Puget Sound area. It has two major financial centers in Washington along with a network of more than 40 branch locations. BECU is very member-focused and provides a full suite of financial services including savings products, mortgages, loans and wealth management services.
PLATFORMS: BECU runs Sagent Data Flow 6.0 from Pitney Bowes Business Insighton a Windows operating system and uses SQL Server 2005 for database management.
PROBLEM SOLVED: At BECU, we wanted to ensure that all of our employees had a comprehensive, 360-degree view of each member. Since BECU offers a full suite of financial services, some members have multiple accounts. The new system would enable employees to have access to all pertinent information about members and guarantee that any changes made to members’ accounts would be recorded and available to staff. Finally, BECU wanted to transform this data into information that would drive critical analyses and decisions such as identifying new markets and new opportunities in existing markets. To do so, we wanted to be able to perform more in-depth, statistical analysis on our data using location intelligence from AnySite and other statistical data mining tools, such as regression factor analysis, tree-based algorithms and neural networks. BECU’s overall goal was to locate more members and opportunities, helping to strengthen growth potential and enhance customer services.
PRODUCT FUNCTIONALITY: BECU used a combination of location intelligence, data quality initiatives and business intelligence to achieve a comprehensive profile of its members. BECU chose Sagent Data Flow, a data processing engine from Pitney Bowes Business Insight that implements data integration, data analysis and information delivery services, making it easier to extend the accessibility and usefulness of member data. A diverse group of employees across the organization needs access to BECU’s member data. For instance, more than 300 users in the field access information about members and branches over the Web from reports created by in-house analysts. Approximately 80 power users who do intensive analytical research are also able to leverage insight from member data, such as how well BECU markets a particular product to target members, which ATMs members are using, and where members are conducting transactions. By integrating location intelligence and BI, BECU was able to incorporate data formatted by Data Flow and use it to analyze performance and trade area demographics. The combined solution enables BECU to effectively conduct saturation and regression analysis and pinpoint areas of greatest potential to add or close retail sites. BECU is continually using these technologies to effectively market its financial products to existing members, analyze branch performance and identify new markets or new opportunities in existing markets.
STRENGTHS: Pitney Bowes Business Insight has provided BECU with full-service, user-friendly, time-saving solutions that enable our organization to manage data integration through a single resource and provide our employees with a 360-degree view of each member. The BI software bundle is a low-cost, rapid turnaround solution that enables enterprise data integration, analytics and reporting. The solutions are flexible for easy customization and robust to manage extremely large transaction data volumes. Overall, the solution’s ease-of-use has also resulted in considerable time savings. With Data Flow, we have moved the reporting as close to the users who need it as possible. If we did not use Data Flow, we would spend a great deal of time doing ad hoc report requests within our IT department.
WEAKNESSES: Data Flow does not provide adequate graphical reporting functionality for BECU. However, because it provides such a strong foundation for general reporting, we can leverage other tools for graphical reporting.
SELECTION CRITERIA: We selected Data Flow for its ease of use for both ETL development and end user reporting.
DELIVERABLES: Combining location intelligence, BI and data quality initiatives has enabled us to identify new opportunities, strengthen target marketing and customer outreach, and increase operational efficiency. To date, BECU has used Pitney Bowes Business Insight technology as the basis for our decisions on where and when to open 12 new branch locations. For instance, the BECU board needed to know if the credit union was close to reaching saturation point with member penetration in the Puget Sound area. The board questioned whether or not potential oversaturation would put itself at risk of impeding historical growth numbers - a 10 percent increase year over year. BECU was able to research members by address, along with their balances and services they were using, and use that information to define trade areas around nearly 40 BECU retail locations. This helped us to determine member penetration by specific micromarkets around the retail sites and see what the predicted growth would be for the next five years.
VENDOR SUPPORT: Pitney Bowes Business Insight sent us an excellent resource to assist us with our most recent upgrade. The best part of working with them is their desire to see us succeed.
DOCUMENTATION: Data Flow documentation is better than average software documentation.
Sagent Data Flow from Pitney Bowes Business Insight
Pitney Bowes Business Insight
4200 Parliament Place, Ste 600
Lanham, MD 20706-1844
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