Teachers Mutual Bank (TMB), one of the largest mutual banks in Australia, has deployed QlikView®, Qlik Sense®, and Qlik NPrinting™ to analyze customer data from several disparate sources to improve its marketing campaigns and business performance. By leveraging the Qlik analytics platform, TMB has transformed internal processes, significantly improving reporting times and integrating new external data sources for more targeted marketing campaigns. Marketing and financial reports that once took 16 days to produce are now produced in a few minutes, and as a result of the Qlik implementation, TMB’s data accuracy has improved by 30 percent, whilst reducing IT support costs.
Teachers Mutual Bank has more than $5.5 billion in assets and over 177,000 members primarily employed by the Australian education sector. With a growing customer base, TMB generates significant amounts of data that requires a robust and sophisticated solution to satisfy its current and future analysis needs. Prior to implementing Qlik, TMB’s accelerating data demands had outgrown its original Excel-based technology solutions, which struggled to collate and present data in a visual way. TMB faced business-critical issues, including disorganized data from multiple sources, dated reports, and information that was not structured in a timely and effective way for management use. TMB needed a solution that quickly and effectively provided a simple, visual and interactive snapshot from a trusted source of data.
With Qlik and its partner Satsumas, TMB is now able to effectively visualize and associate member data such as demographics, spatial distribution, and eligibility for home loans. Disparate data that is aggregated from the Australian Bureau of Statistics, census data, and TMB’s customer data are merged and analyzed dynamically to create highly targeted marketing reports and campaigns. This improves business uptake and decision making for a more efficient organization – ultimately creating maximized value for customers.
“Qlik enables us to piece together insights derived from all our data sets far more efficiently so that we understand our customers and their behaviour better,” said Dave Chapman, Chief Information Officer at Teachers Mutual Bank. “We have streamlined the view of our business processes in our analytics and reporting, reduced administrative time and increased workflow efficiency. This has allowed us to leverage the insights we’ve uncovered from using Qlik to market ourselves more effectively to our customers.”
“Qlik provides financial institutions with the ability and agility to derive actionable insights that drive better outcomes for their customers,” said Paul Van Siclen, Market Development Director, Financial Services. “Our work with Teachers Mutual Bank is a great example of how the strategic use of visual analytics can lead to better customer satisfaction and a streamlined operational approach to become a more efficient and profitable financial organization. Data is a powerful ingredient for financial organizations and we are delighted that Teachers Mutual Bank is able to see their whole story in their data to serve their customers better in the future.”
TMB intends to expand the deployment of Qlik solutions throughout the company, including finance, risk and operations. As the bank is maturing in its analytics capabilities and management of big data, it is focused on expanding its functionality to ensure that its customers are able to make better financial decisions.
