Abound Credit Union Partners with Arkatechture
Updated: Sep 13
Abound Credit Union has partnered up with Arkatechture CUSO to achieve a single source of truth to better understand their membership.
Portland, ME (August 12th, 2023): Arkatechture CUSO, a technology company dedicated to empowering organizations with a better understanding of their business through data, has formed a partnership with Abound Credit Union. The credit union was seeking a single source of truth, and removal of manual processes.
Abound Credit Union was established in Kentucky in 1950, and is a leader in financial education with 17 locations and over 130,000 members. Abound Credit Union was struggling with their many data siloes, and the high volume of data they had spread across different systems. It was quite a tricky puzzle to deal with in order to create reports or modeling. They needed better data consistency, governance, and data accuracy. They first came across Arkatechture back in 2020 during their search for credit union-specific solutions for a data hub. They had gone forward with Tableau, and their rep at Tableau told them that Arkatechture had been a great resource for other credit unions. This is when they began to evaluate Arkatechture more seriously.
After making a pros and cons list for potential vendors, it was clear that Arkatechture was leading across the board. They chose Arkatechture with full confidence that this was the partner that would best ensure that they had future success in the analytics environment. The platform and software were spot on for what they needed. They loved the culture of the team and how well Arkatechture understands the needs of the credit union industry. After seeing what Arkatechture had helped other credit unions achieve, and how collaborative it was, they knew Arkatechture could grow and change with them as a partner.
“We were looking for someone who was not only going to come in and set us up then leave us out to dry, but more so a partner for a long-term solution, where they would be there to ensure that we are growing and successful in the utilization of the solution.” commented Abigail McGraw, Data Analytics Manager at Abound.
The Abound team is looking forward to becoming part of the Arkatechture community of credit unions that they can collaborate with. A goal of theirs is continual growth of their internal data culture, and help from Arkatechture to help that flourish internally. They want a higher level of data integrity for their team members, as well as high accessibility to data for their team, and removal of manual processes for time savings. They intend to utilize Arkatechture models such as Next Best Product or Member Attrition to help them better understand their own membership, as well as create their own modeling around financial well-being to know or understand when members are in the beginning stages of financial hardship before it’s too late. Financial education initiatives are really important to Abound, so they can better risk rate members and offer them financial education before it may be asked for.
"Energized and excited are a couple of words that come to mind about working with the Abound team. During our onsite visit we had the opportunity to meet and work closely with their expanded team. The energy, collaboration and teamwork amongst this group was on display and set the table for a great working session. This is a group that will be moving lightning fast once their blockers and barriers are removed. We are so thrilled to be selected as their partner and are excited to help them through their journey!" commented CEO and founder of Arkatechture, Jamie Jackson.
Arkatechture CUSO is a provider of data management and business intelligence solutions for credit unions. Their data platform, Arkalytics, combines a cloud-native Data Lakehouse with a suite of financial dashboards & reports. Arkalytics integrates data from key banking systems to create a centralized data hub and ecosystem to secure, manage, share, and analyze the credit union’s data.
Arkalytics is an end-to-end business intelligence solution that combines a fully managed cloud-hosted Data Lakehouse with a suite of financial reports and executive dashboards for analysis.
It serves as an advanced analytics and reporting platform that integrates all of your organization’s disparate information systems through an automated lean data pipeline.