Decision Minds Extends Industry-Leading Data Analytics Solution to Credit Unions and Regional Banks
Decision Minds’ purpose-built solution enables member 360 views, risk spotlight and mitigation, and operational optimization on a foundation of trustworthy data
SAN JOSE, CA, UNITED STATES, March 5, 2024 /EINPresswire.com/ — Decision Minds, the enterprise transformation IT services and solutions leader, announced today it is expanding its data analytics and insights solution to the credit union and regional banking space. Organizations in this space are striving for growth while dealing with unique challenges and opportunities. They need to increase deposits, strengthen member and customer relationships, reduce financial risk, and rationalize complicated tech stacks all while operating with limited resources in an increasingly rigorous regulatory environment.
Decision Minds offers a solution to quickly and cost effectively help organizations achieve the data insight necessary to address those challenges.
“Working with credit unions and community banks over the last ten years, we observed that they are drowning in data from disparate sources. They simply have to gain control of that data in order to mature and move to the next level,” said Balaji Rajagopalan, Decision Minds Founder and CEO. “At the same time, there was a gap in the solutions available to tackle that challenge. We’ve invested in building out our capability to fill that gap.”
“We intend to reshape this market so that credit unions and community banks can harness the data they need to drive the growth they require to remain competitive,” Rajagopalan continued.
“Decision Minds has supported First Tech for nearly ten years while serving as a key partner and subject matter expert in data mapping/integration and other key parts of our business,” said Greg Mitchell, President and CEO, First Tech Federal Credit Union. “Our collective focus on ‘qualitative’ solutions that deliver high fidelity data delivered a vital ‘unlock’. This allowed First Tech, and other progressive CUs and community banks, to have confidence in their data when making key risk decisions or delivering superior personalization experiences for their members. The obsession with ‘quality’ is a hallmark of Decision Minds.”
“Data and the effective deployment of data are incredibly important to understanding, maintaining, and growing credit union member relationships,” said Jay Franklin, Senior Vice President, Enterprise Data and Analytics, First Tech Federal Credit Union.
Leveraging Decision Minds’ proven sprints to value and scalable engagement model, the data analytics solution supports marketing, sales, risk, executive and operational goals in three key focus areas:
• Member insights and deposit growth – combine demographics with activity to create dynamic 360 member profiles – who, where and how they act and interact. Uncover trends to enable proactive engagement and service, improve member experience, and optimize growth programs including deposit offers.
• Fraud and credit risk mitigation – Illuminate areas of interest rate, liquidity, credit, capital, and fraud risk. Target and strengthen prevention to ensure regulatory compliance and reduce risk of loss.
• Business optimization and IT efficiency – Gain a higher-level overview and more detailed understanding of operations. See profitability by channels, by member groups and by products to cut costs and optimize spending. Harvest value from technology investments.
This solution expands Decision Minds’ years of proven performance for hundreds of clients including billion-dollar regional banks and credit unions to the broader community banking space. The company’s industry expertise, deep technology backbone, IP accelerators, offshore economics, and agile delivery framework combine to create a formidable yet cost-effective solution that delivers high value results, fast time to value, and measurable ROI to credit unions and regional banks who need to capitalize on their data resources.
About Decision Minds
Decision Minds is the enterprise digital transformation IT services and solutions leader in Data Cloud, Data and Cloud Operations, Digital Engineering and Gen AI. Our ready-to-deploy services, solutions, and tech-savvy team of experts in emerging technologies help our clients utilize data quickly and cost effectively. Our strategic consulting, managed services and support across banking, technology, and retail verticals has enabled over 300 organizations including Fortune 500 enterprises to better understand their customers and operations, delivering measurable cost savings and significant growth.
Kim Cook
Decision Minds
kimc@decisionminds.com
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