Provident Central Credit Union, with nearly $1 billion in assets, is among the 50 largest credit unions in the US. Established in 1950, Provident now serves more than 89 000 members from more than 1 600 employer groups, and maintains service centres throughout the US.
Provident approached Sagent, looking to build an enterprise data warehouse to solve two primary business problems. The first objective was to increase the efficiency of its staff and second to deliver real-time product information to customers. It would have typically taken one person nearly three weeks to create quarterly regulatory reports, as data came from 20 different sources. Provident also wanted to automate its credit scoring system so that members could see what loan they qualified for, how much they qualified for, and what kind of rate they would get - in real-time.
Sagent helped Provident build and deploy a data warehouse in less than 90 days. All Provident personnel now have access to the warehouse either through the Web Link or Design Studio delivery tools. The Sagent Solution provides these users with access to information about all members, accounts and products, an integrated view of the business through one single entry point and access to detailed transaction information on loans, credit cards and share products.
Users also have access to general ledger information for accounting and profitability analysis as well as detailed demographic information about members. Provident is now able to perform complex analytical problem solving by integrating data from various internal customer information sources and external demographic data. This bolsters the credit union's strategic decision-making capabilities by enabling it to immediately form a complete view of its customers; it also provides a complete financial view of its operations.
The transformation has enabled the credit union to conduct more cost-effective one-to-one marketing campaigns, as well as provide reports to decision-makers more quickly and account information to members immediately. "Sagent provided us with a complete solution for our business needs," said Helen Byrnes, executive vice president, Provident Central Credit Union. "The Sagent platform has data extraction capabilities, a user-friendly front-end solution for reporting and analysis, and an inventory of proven analytics. The knowledge of the consultants was also an important factor. They were totally supportive of what we needed and how we wanted to do it."
Sagent SA is the exclusive distributor of the Sagent Solution in southern Africa. In addition to the Sagent Solution, the company also offers software independent education and consulting services.
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