Top-Down Integration Means Faster Time to Value for Crossroads

Getting Started

On the back of successes in the US, we collaborated with Celero to become more involved in the Canadian credit union market. Celero facilitated a webinar where we could explain to potential prospects the unique selling points behind our vision to our credit union customers in Canada. After pitching the core value proposition of BankBI to a variety of credit unions, Crossroads Credit Union immediately got in touch with us.

Part of our sales process involves giving potential prospects access to a full demo version of the BankBI software to expose them to the application before committing. This enables them to see the financial and banking performance capabilities in action, without using their data. This was the same process we went through with Crossroads.

They were impressed, and within a week of the project starting, Crossroads were seeing their balance sheet integrated into our system. But their main issue was bigger than that – they knew they had all this data, but they couldn’t bring it to life and make it work for them.

Delivery

We helped Crossroads unlock their data by taking their financial data (the balance sheet and income statement components) and their loan and deposit portfolio from their core banking system and reconcile the two together in a harmonious way.

Organisations like Crossroads struggle to achieve this when someone from within their business forgets or doesn’t know to apply the correct accounting view to the data when dealing with finance. The numbers become harder to reconcile. BankBI pulls those disparate data sources together to provide accurate financial information. By doing so, we provided Crossroads with a sound foundation of business intelligence and performance management data.

“Within the project, we were providing all of the integration out of the box that they were going to need for their system. Their experience was that we were able to deliver and show value very quickly.”

Graham Goble, BankBI
CEO

They have the balance sheet with the total number of mortgages per branch, for example, but now each of those mortgages can be broken down even further into finer details, including:

• Account officer
• Customer gender
• Credit score
• Type of account

This new data is important, but it also updates every single day – one area this helps in particular is helping Crossroads better understand the yield on its lending portfolios.

As part of the delivery, we also integrated Crossroads’ loan origination data. We’re analysing their loan funnel – what gives Crossroads’ a good indicator of their performance is the number of applications they receive, their quality, and how many are approved or rejected. The analysis of that funnel, coupled with the analysis of the portfolio itself when linked backed to the finances to make sure it all agrees, is where BankBI is really able to help.

The Top-Down Approach

Many organisations take the data warehousing approach. But as part of our delivery, we felt the top-down approach was much more effective for Crossroads. They needed to make zero investment in technology or infrastructure, possessed no other licenses other than BankBI, and we provided immediate value as opposed to how long it takes to build data warehouses.

BankBI offers a rapid time-to-value, especially when compared to bottom-up approaches. Having come from the world of data warehousing, the team at BankBI are in a unique position to turn the traditional methods on their heads. Combine this with the speed and agility of a cloud-based SaaS product, and BankBI was uniquely positioned to deliver on all the areas Crossroads needed to help them innovate and drive automation in their field. Not only that, but BankBI can also take feeds directly from datawarehouses to help you leverage that investment and deliver on the last mile of reporting.

“We started seeing our own data in February[…]The experience has been second-to-none. The knowledge in the team has been absolutely wonderful. The project was executed on time and they are very easy to work with.”

Rhonda Fullawka, Crossroads Credit Union
Manager of Finance