Years ago, Arkatechture developed a passion for the credit union mission after working with our first credit union customer. This inspired us to create Arkalytics, a business intelligence, dashboard, data and predictive analytics platform for credit unions. Our chance to contribute and help scale the impact credit unions can make on their members, communities, employees and the industry as a whole.
In this blog and the video below, we've asked credit unions how Arkatechture is helping them achieve their goals.
This is what they had to say:
To break it down into more specifics, we help credit unions from a technology perspective because Arkalytics works like a software-as-a-service (SaaS) platform and services solution to:
Arkalytics also empowers credit unions to generate ROI by generating data-driven insights that inform decisions on growing revenue, increasing margins, and reducing cost, and innovating the digital member experience.
This helps credit unions to deliver against their mission-based charter and significantly increasing the value they can generate for their members, employees, and communities.
We’re proud of the 100% success rate we have for implementing Arkalytics with all of the credit union customers we work with. Implementing Arkalytics typically takes 3-6 months based on how fast a customer wants to move and Arkalytics in place.
This includes having a solution everyone can count on to be a single source of truth, and operational, executive and financial dashboards they can use to gain insight and make data-driven decisions. Our partnership continues from here via the suite of services we provide to drive adoption and credit union goals for improving their business performance and member experience.
Enabling credit unions means teaching them how to fish rather than fishing for them. We provide credit unions with everything necessary to drive self-sufficiency and adoption, in terms of being able to utilize the dashboards, as well as providing the capabilities to build their own dashboards through a sandbox we provide them.
In addition, we want to drive adoption across more functions and levels of the credit union. Here are some ways we do this:
The way we view ourselves is not just as a vendor providing a solution, we are also a partner. As a partner, we want to do everything possible to assess a credit union's readiness for implementing data analytics and help them become prepared to be successful with data analytics implementation.
Primarily, we aim to:
Implementation is typically 3-6 months, and then the work really begins and the partnership takes form. After implementation, the credit union has:
After this stage, our goal is to advance them in terms of their data maturity. One way we do this is through quarterly business reviews with our Customer Success Managers. A data warehouse by itself doesn't necessarily create value, it's the users who mine it for insights and truth that really make it successful.
Typically, credit unions are looking to reduce the cost associated with bringing their data into reports that they can use throughout their organization. So it's all about report automation. The next stage is typically helping them with strategic dashboards, enabling them to really benefit from making data-driven insights that will help grow their business, grow their margins, as well as reduce their costs. Our solution only requires a user to have a browser to be able to access all of our dashboards.
Our goal is to drive more adoption across more functions of the credit union, as well as through more levels of management within the credit union. The idea is that more and more people will be able to get data-driven insights in their corner of the business, so your credit union will have an army of people helping to improve member experience, as well as the performance of the business.
Next, we have the predictive analytics solution that uses artificial intelligence and machine learning to identify trends and patterns of our best-performing credit unions that other credit unions can benefit from. Credit unions can use this information to improve in the areas they need to; that’s the benefit of us working with credit unions not only one on one but also as a community, to be able to pool data and identify patterns and trends that can benefit all of our credit union clients.
Pre-implementation, we provide an assessment of your readiness for data analytics which enables us to determine where your credit union lies from a cultural standpoint, a people’s standpoint, governance, technology, data security, etcetera. Based on that assessment, we identify gaps that we can help you fill, which allow us to customize the process of working together on an implementation.
The implementation process includes:
In addition, post-implementation a-la-carte services are available, such as:
There are lots of ways we can help you pre, during, and post-implementation...we are here to support you in your credit union data journey!
Not only are we differentiated technologically:
We are also differentiated by our view of ourselves as a partner. Every customer we work with, we make successful, which is why we have a 100% success rate on implementations.
After we implement, our goal is to make credit unions as successful as possible at:
We are so passionate about helping credit unions that we partnered up with a couple of our data-savvy credit union clients to form a Credit Union Service Organization (CUSO).
We take pride in the fact that we can help organizations that are dedicated and focused on developing and growing their communities…that’s what it’s all about. We are really excited to help credit unions help their communities through data."
-Jamie Jackson, CEO & Founder of Arkatechture
Want to learn more about what Arkalytics can do for your credit union?