Domo Case Studies Consumers Credit Union Generates Greater Member Value With Domo

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	Consumers Credit Union Generates Greater Member Value With Domo Domo

Consumers Credit Union Generates Greater Member Value With Domo

Domo

Technology Category	Analytics & Modeling - Real Time Analytics
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Real-Time Location System (RTLS) Fraud Detection
Services	Data Science Services
Challenge	In the last five years, Consumers Credit Union (CCU) has grown from $650 million in assets to nearly $3 billion as it began to expand into new markets and offer new products. However, with this growth, it became too complicated and inefficient to use data the same way they did in the past. The organization was filled with mainframe reports, spreadsheets, and dual entry of data. Furthermore, the pandemic had the most significant impact by far to its operations. Executives needed to understand what types of banking services people still needed so it could adequately staff its drive-thru branches, ensure its online banking services were up to the task, and adequately staff its call center during its busiest hours. Read More
About Customer	Consumers Credit Union (CCU) is one of the largest credit unions in Illinois. It is a not-for-profit financial institution with a mission to provide as much value as possible to its 190,000 members. Branches are a familiar sight throughout the suburbs between Chicago and the Wisconsin border, and with a history that goes back more than ninety years, the CCU name is synonymous with banking for several generations of savers. In the last five years, the credit union has grown from $650 million in assets to nearly $3 billion as it began to expand into new markets and offer new products. Read More
Solution	CCU uses Domo to manage nearly 6.5 billion rows of data across approximately 30 data sources creating 1,700 datasets ranging from its core banking systems to marketing analytics, customer service analytics, and even weather data. Thanks to Domo, CCU has the visibility it needs to operate efficiently so it can better serve its members. Domo has also enabled CCU to create a culture of data curiosity across the organization that allows users to identify opportunities to improve performance. In addition to helping the credit union manage its initial pandemic response, CCU used Domo to identify and prevent fraud in the wake of a spike in unemployment claims. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Real Time Analytics

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Real-Time Location System (RTLS)

Fraud Detection

Services

Data Science Services

Challenge

In the last five years, Consumers Credit Union (CCU) has grown from $650 million in assets to nearly $3 billion as it began to expand into new markets and offer new products. However, with this growth, it became too complicated and inefficient to use data the same way they did in the past. The organization was filled with mainframe reports, spreadsheets, and dual entry of data. Furthermore, the pandemic had the most significant impact by far to its operations. Executives needed to understand what types of banking services people still needed so it could adequately staff its drive-thru branches, ensure its online banking services were up to the task, and adequately staff its call center during its busiest hours.

About Customer

Consumers Credit Union (CCU) is one of the largest credit unions in Illinois. It is a not-for-profit financial institution with a mission to provide as much value as possible to its 190,000 members. Branches are a familiar sight throughout the suburbs between Chicago and the Wisconsin border, and with a history that goes back more than ninety years, the CCU name is synonymous with banking for several generations of savers. In the last five years, the credit union has grown from $650 million in assets to nearly $3 billion as it began to expand into new markets and offer new products.

Solution

CCU uses Domo to manage nearly 6.5 billion rows of data across approximately 30 data sources creating 1,700 datasets ranging from its core banking systems to marketing analytics, customer service analytics, and even weather data. Thanks to Domo, CCU has the visibility it needs to operate efficiently so it can better serve its members. Domo has also enabled CCU to create a culture of data curiosity across the organization that allows users to identify opportunities to improve performance. In addition to helping the credit union manage its initial pandemic response, CCU used Domo to identify and prevent fraud in the wake of a spike in unemployment claims.

Impact #1	CCU has the visibility it needs to operate efficiently so it can better serve its members.
Impact #2	Domo has enabled CCU to create a culture of data curiosity across the organization that allows users to identify opportunities to improve performance.
Impact #3	CCU used Domo to identify and prevent fraud in the wake of a spike in unemployment claims.

Impact #1

CCU has the visibility it needs to operate efficiently so it can better serve its members.

Impact #2

Domo has enabled CCU to create a culture of data curiosity across the organization that allows users to identify opportunities to improve performance.

Impact #3

CCU used Domo to identify and prevent fraud in the wake of a spike in unemployment claims.

Benefit #1	CCU manages nearly 6.5 billion rows of data across approximately 30 data sources creating 1,700 datasets.
Benefit #2	CCU had visibility into 100% of its unemployment transactions each day, allowing them to catch dozens of unemployment fraudsters and return a substantial amount of money back to state unemployment authorities.

Benefit #1

CCU manages nearly 6.5 billion rows of data across approximately 30 data sources creating 1,700 datasets.

Benefit #2

CCU had visibility into 100% of its unemployment transactions each day, allowing them to catch dozens of unemployment fraudsters and return a substantial amount of money back to state unemployment authorities.

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Overview

Consumers Credit Union Generates Greater Member Value With Domo

Operational Impact

Quantitative Benefit