CIO

Credit Union Australia uses financial analytics for transparency

Management can now see which branches are performing better
David Gee

David Gee

Credit Union Australia (CUA) has used a financial management software offering to automate budgeting and forecasting spreadsheets across the business.

The Brisbane-based financial institution operates 80 branches around Australia and has 400,000 customers.

Since the rollout of SAS Financial Management a year ago, CUA has also used it for activity-based analytics. For example, management can use the software to work out how much it costs to launch a product and the costs of running a branch.

CUA CIO David Gee said that there has been “much more transparency” around branch performance.

“There has also been a good hard look at where branches are located and there has been a process of branch refurbishment,” he said.

“So far, we have opened five new ‘concept’ branches across Victoria, New South Wales and Queensland, including a new flagship branch in Brisbane’s central business district and refurbished two. In some cases, we have also re-located.”

Core systems overhaul

Since the SAS implementation, CUA recently completed a core systems overhaul encompassing core banking, its Internet platform and mobile platform for smartphones. The overhaul was announced in early 2011.

“Within CUA, we had a home grown COBOL system that was 20 years old. Going from that informality of having a handful of people who managed the previous system to having a new package is a very different proposition,” said Gee.

“We’re well positioned going forward because we can now focus on ensuring that the customer experience of using this banking platform is exceptional.”

Follow Hamish Barwick on Twitter: @HamishBarwick

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