We’re excited to announce that Yolo Federal Credit Union and IH Credit Union are using BankBI. Both credit unions use a BankBI-specific Corelation KeyStone extract, which was co-developed by BankBI and Corelation. This launch marks an important step toward data-driven decision-making and improved operational efficiency.
Real Impact on Daily Operations
The practical benefits of this integration are already evident. Matt Lane, Chief Financial Officer at Yolo Federal Credit Union, notes how the solution delivers tangible improvements to their decision-making process:
"Working with the BankBI team has been an absolute pleasure. Their integration and technology provide key decision-makers with up-to-date information, enabling efficient business management." - Matt Lane, CFO, Yolo Federal Credit Union
Addressing Key Challenges
Credit unions face a challenge in organizing data, as they must manage complex data while ensuring accurate reporting, timely insights, and compliance.
One major hurdle is the inability to gain timely access to data which often delays reporting and decision-making. This has a knock-on effect, making it difficult to address member needs and respond to market changes promptly.
Additionally, reliance on manual processes and disparate systems creates inefficiencies and increases the risk of errors.
Yolo Federal Credit Union and IH Credit Union recognized these challenges and sought to:
- Simplify data management
- Enhance reporting accuracy
- Gain daily insights
The BankBI Solution
BankBI’s integration with Corelation KeyStone is a seamless solution. The co-developed extract allows Yolo Federal Credit Union and IH Credit Union to automate data flows from KeyStone into BankBI’s cloud-based performance software for banking. The integration eliminates the need for manual data extraction and consolidation, ensuring accurate, timely, and consistent reporting.
Benefits Of The Integration
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Daily Insights
Both credit unions can access daily financial and operational insights through advanced analytics and reporting tools. This enables proactive decision-making and enables them to serve members effectively. -
Improved Efficiency
Automating data extraction and reporting processes alleviates administrative burdens, freeing up resources to focus on strategic initiatives. -
Enhanced Reporting Accuracy
The integration ensures that financial and operational data is consistently accurate and up-to-date, reducing the risk of errors and improving regulatory compliance. -
Scalability and Flexibility
BankBI’s financial performance software scales with credit union growth, offering the flexibility to adapt to changing business needs and market conditions. -
Better Member Service
With streamlined operations and actionable insights, Yolo Federal Credit Union and IH Credit Union can better anticipate and respond to member needs, strengthening relationships and driving member satisfaction.
A Partnership for Success
The collaboration between BankBI and Corelation has resulted in robust, efficient, and scalable banking analytics software solutions that empower credit unions to thrive in a competitive financial landscape. Implementing BankBI marks a major milestone for Yolo Federal Credit Union and IH Credit Union.
"We are thrilled to see Yolo Federal Credit Union and IH Credit Union unlock the full potential of their data through our partnership with Corelation. This integration demonstrates our commitment to empowering credit unions with the tools they need to achieve operational excellence and deliver exceptional member value." – Graham Goble, CEO, BankBI
Looking Ahead
As Yolo Federal Credit Union and IH Credit Union continue their journey with BankBI, they’re well-positioned to harness the power of data for strategic growth and member-centric innovation. This achievement underscores the value of collaboration and innovation in the financial services industry.
