Information Builders, Inc. (IBI), the leading data and analytics company, announced that Sound Credit Union has leveraged its Analytical Data Mart System (ADMS) to create a COVID-19 visualization and reporting package for credit unions. The reporting bundle provides Sound with insights and data analytics, identifying members they can help with the financial consequences of the coronavirus pandemic.
Information Builders launched the Analytical Data Mart System last year. It was engineered with Information Builders WebFOCUS BI and analytics solution to provide actionable business insights for credit unions. IBI’s powerful self-service analytics are designed exclusively for credit unions to drive strategic growth, member engagement, and cost efficiency across finance, operations, lending, and marketing.
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Because of the power and ease of use of ADMS, Sound was able to build a set of 21 dashboards and reports analyzing the financial impact of COVID-19 on its members – in a matter of hours. Sound uses this package to measure member behavior, transactions, and financial flows insights throughout the Sound Credit Union system. These insights empower executives, business unit managers, and business intelligence (BI) analysts to identify and reach out to members they can assist with programs targeted to help them.
“We first experienced what we could do with data and analytics with ADMS during the government shutdown in December 2018 and January 2019. We identified members whose incomes were reduced as a result,” said Troy Garry, CFO, Sound Credit Union. “Now, we are harnessing the power of building reports and visualizations quickly with ADMS to get a deeper understanding of our members’ individual financial needs during the current pandemic.”
