Vernon Hills, Ill.-based Baxter Credit Union (BCU), the fourth largest credit union in Illinois, has selected Alkami Technology’s ORB platform to transform its banking experience for its 86,000 digital banking users.
The ORB platform will integrate with BCU’s Symitar core banking system.
ORB will provide BCU’s members with a modern user interface that is consistent across all channels, devices and functional offerings, delivering a superior digital experience and increasing the value of the digital channel to the user and the financial institution. The platform’s customizable features and its superior flexibility also allow BCU to build its own apps and product extensions and integrate new features and functions for all lines of business. Additionally, Alkami’s platform easily scales to support large and quickly growing user bases.
“Early on, we recognized a need to invest in a modern digital banking platform and decided we would build our own, tailored to our members’ needs and expectations,” said Scott Schmidt, director of digital services at BCU. “After careful consideration and research, we decided Alkami’s ORB Platform was the ideal solution to propel us forward. ORB best aligned with our member experience and technology strategies, and there is a great deal of opportunity to integrate with other channels. One example is ORB’s ability to expand our administration tool set for frontline staff to see what members are doing within mobile and online banking and trouble shoot. Today, disparate systems and a lack of visibility make it difficult for frontline staff to assist members with digital banking issues. In fact, about 20 percent of all calls to our call center are related to our digital services, and we expect ORB to be a huge benefit.”
Schmidt continued, “Alkami’s culture was also a great fit for our institution. We’re both ambitious about the future of digital banking, and we expect to do great things together.”
With ORB, BCU aims to create a compelling platform that will strengthen its brand for remote members and encourage heightened engagement, provide better security and transition more routine transactions to lower cost self-service channels. Currently, BCU’s self-service channel usage is at 89 percent, up from 79 percent in 2009. The credit union aims to reach 95 percent usage.
“More than 60 percent of today’s banking transactions occur within digital channels, and research suggests that more than 90 percent will take place online by 2020,” said Stephen Bohanon, founder, chief strategy and sales officer of Alkami Technology. “Savvy financial institutions now recognize that delivering the ultimate digital experience is a driver for overall growth. BCU is certainly ahead of the pack in recognizing the future of digital, and we look forward to partnering with them to accomplish their goals.”