Credit Union of Colorado
A mid-size credit union has innovated with Boomi to improve member experience across digital, phone, and in-person channels while gaining flexibility to connect a legacy core banking system with cloud and fintech partner applications.
Business goals
Delivering exceptional member experiences is a priority for the Credit Union of Colorado, a mid-sized institution with $2.5 billion in assets. The goal is friction-free engagement across digital, phone, and in-person channels that drives satisfaction and loyalty for 160,000+ members.
Modernizing the IT environment with best-of-breed applications and fintech partners empowers the credit union to achieve member centricity goals while heightening business efficiency, accelerating IT delivery, and using analytics for informed decisions. Since 2020, Boomi has played a critical role.
Integration Challenges
Credit Union of Colorado was constrained by legacy IT. Choosing new applications depended on whether an app could integrate with the core banking platform — not whether it best met business needs. The institution was left with a tangle of point-to-point connections that were costly and difficult to maintain and modify.
The credit union chose Boomi for any-to-any integrations that would unshackle it from legacy constraints. Boomi supplies flexibility for application deployment based on member needs, and helps power seamless experiences.
How Boomi Helped
Credit Union of Colorado has flexibility to integrate self-service systems for members to easily open CDs, use online banking and e-statements, apply for loans, and engage with the popular Zelle payments service. Boomi also supports communications personalized to member needs.
With Boomi, the credit union adopted a new interactive voice response (IVR) system, saving $60,000 in licensing renewal while automating processes that reduce call center wait times. Meanwhile, friction-free e-statements powered by Boomi are saving $100,000 in snail mail costs.
Results
Boomi-powered digital services have helped increase net promoter scores (NPS) by 5%, reflecting member satisfaction and loyalty. Ongoing innovations, including deployment of Boomi Event Streams in fraud prevention, will bring further gains.
With a lean five-person team that built and manages 140 Boomi integrations, Credit Union of Colorado has:
- Eliminated integration limitations of legacy IT systems
- Empowered business users for greater involvement in digital services
- Accelerated integration development and deployment 5X
- Gained end-to-end visibility with rapid alerting and issue resolution
