PSECU Speeds Up Digital Journey With ibi’s Data Analytics Platform
Pennsylvania’s Largest Credit Union Improves Member Experience Through Self-Service Analytics for Hundreds of Business Users
New York, NY
Information Builders [ibi], a leader in business intelligence (BI), analytics, and data management solutions, today announced that PSECU has selected its data and analytics platform to extend self-service decision-making capabilities to hundreds of employees. PSECU is Pennsylvania’s largest credit union, with more than 450,000 members and $5.5 billion in assets.
According to Robert Burger, PSECU’s chief data officer, the organization selected ibi not only due to its superior data-visualization capabilities, but also for its strong data access, governance, and mobile deployment capabilities – all of which empower employees to assist members with their information needs. PSECU already has a data warehouse, as well as tools for corporate reporting, but executives wanted to “get to the next level of maturity” – with enterprise analytics as part of their overall digital initiatives focused on member experience and performance improvements.
The ibi platform includes capabilities to support these goals, including dynamic portals and dashboards, visualizations, predictive models, and automatic alerts. Responsive design ensures that all new analytics can be easily consumed through the computers, tablets, and mobile devices that employees choose to use for the best user experience.
“ibi not only has superior technology for data intelligence, but also a strong emphasis on data modeling, metadata, and data governance,” Burger said. “We were looking for a complete analytics system, not just a tool, and ibi offered the most comprehensive platform. Their technology will help us achieve the analytics maturity we need and to use past data to predict future outcomes.”
In the first phase of the project, PSECU is using the ibi Credit Union Accelerator to make it easy for business professionals to access trusted, business-ready data, without navigating the complexities of databases and data models. The ibi approach upholds PSECU’s philosophy of self-sufficiency: the IT team will serve as the data custodians, while the business community takes responsibility for analyzing and sharing data.
In phase two, PSECU will develop executive portals that present relevant key performance indicators (KPIs) and business measures. This dynamic environment will reveal banking metrics, liquidity positions, and profitability trends, allowing executives to monitor daily changes in cash, loans, balances, margins, ratios, and many other important measures of financial health and member stability.
PSECU’s technology roadmap includes using ibi predictive analytics technology to help members maintain their accounts in good standing. For example, they could create a predictive model that monitors loan repayment patterns. These insights will help the credit union identify potential delinquencies and prevent charge-offs. PSECU is also training more than a dozen employees to use the ibi platform. These “power users” will be able to help their respective business create analytics apps without assistance from the IT department.
“Increasingly, credit unions compete against large, well-funded banks through streamlined, high-touch member services delivered digitally, efficiently, and profitably,” said Jon M. Deutsch, vice president and global head of financial services, ibi. “As an industry leader in that transformation, PSECU is using analytics to create a superior digital experience for its members.”
Visit our website to learn how ibi supports credit unions and other financial services organizations.
ibi is a data and analytics company that embeds intelligence into ― everything. From the beginning, ibi has known the importance of data and insights to make better decisions. We help organizations get their complex and disconnected data in order, so they can build, embed and automate intelligence in everything they do. By preparing organizations for the future and turning them into builders ― information builders, everyone can use enterprise-trusted data at scale to drive their growth. Whether our customers use pre-built applications or build their own solutions for their data and analytics challenges, ibi powers their innovation and reinvention. ibi’s open platform and industry-specific building blocks accelerate speed-to-market, improve operational efficiency, and enhance their customers’ experience.