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Case Study - Teachers Mutual Bank

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Today's consumers expect services and seamless interaction points across all channels, insisting that today's businesses make engagements and transactions fast and easy. And banks are no exception to these expectations from digital consumers. Certainly, if you ask David Chapman, he would agree. "The rapid proliferation of innovative fintech start ups has opened up a new world of opportunity," says Chapman, the chief information officer for Teachers Mutual Bank in New South Wales, Australia. "You either put yourself in a position to take advantage of those changes, or you will be made irrelevant by new competitors." Teachers Mutual Bank (TMB) is one of Australia's largest mutual banks, with more than 193,000 members and nearly $5 billion in assets. In order to stay competitive and grow its membership, TMB knew that digital transformation would be required — which meant adopting new technology. In particular, the bank aspired to create a top-shelf, mobile-first, omnichannel customer experience. TMB also wanted to quickly and easily connect to rapidly evolving new fintech services, keeping the bank relevant no matter how the industry might evolve. In 2014, TMB started discussions with its core banking system provider Ultradata. TMB wanted to create APIs to connect Ultradata's Ultracs customer relationship management (CRM) system to more points across the business, including business process management toolsets, to streamline banking operations. CASE STUDY – BANKING Market: Banking Headquarters: Homebush, NSW, Australia Founded: 1966 Customers: 193,000 Employees: approx. 600 Business Goals: Drive digital transformation to create cutting-edge customer service and ensure future growth through integration with fintech services. Integration Challenges: Manual, time-consuming integration processes required custom coding and could not be built fast enough to keep the bank competitive. How Boomi Helped: • Modernized integration infrastructure with plug-and-play architecture • Reduced IT operating costs with flexible, dynamic connectivity • Minimized previous manual work such as file transfers and custom coding to build integrations • Automated and streamlined banking operations by connecting business process management tools to core banking systems and workflows How Boomi Helped: • Reduced integration times up to 90 percent • Rapidly deployed new omnichannel, one-screen view for customer support • Quickly deployed new mobile applications • Streamlined integration processes, significantly lowering operating costs Teachers Mutual Bank Delivers Omnichannel Customer Experience With Dell Boomi One of Australia's largest mutual banks turns to Boomi to drive digital transformation, stay competitive and grow its membership. Through the Boomi integration cloud, TMB created a mobile-first, omnichannel customer experience and launched new fintech offerings. Case Study: BANKING | TEACHERS MUTUAL BANK

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