Automate Financial Reporting and Analytics with BankBI
Wednesday, July 10, 2019
Ideal Credit Union wanted to automate and enhance its financial reporting. By aligning with BankBI Ideal managed to harness new technology to both automate & improve financial reporting whilst reducing risks in the process.
Dennis R. Bauer, EVP and Chief Financial Officer at Ideal explains: “We have about US$700 million in assets with around 50,000 members. What we really wanted to do was move away from Excel-based reporting and move instead to something more automated. We were finding that if someone had left the office, for example, then we may not be able to run a report we required. We also needed to do away with manual adjustments which are complicated, high risk and just not operationally efficient.”
Ideal Credit Union already used OnApproach M360, a data warehouse product provider, and it was through them that the introduction to BankBI came.
“We’d been chatting to OnApproach about how we needed to change things; eliminate risk and add efficiency via automation. They introduced us to BankBI - one of their partners. It was good to find a partner via someone we already worked with – the data warehouse – it meant that change was minimal. We had a trustworthy recommendation when it came to using BankBI and it meant that the three of us were more closely aligned when it came to actually getting down to business,” says Bauer.
Learn more about Ideal’s Case Study.
For information about BankBI, contact Director of Business Development Kris Jacobsen by email at firstname.lastname@example.org or by phone at 651-288-5515.