CU 2.0 Podcast Episode 297 EXL on How to Master Your Credit Union’s Data

Podcast Guest Anurag Mukherjee

The answers you need are in the data. Of course you know that. But do you know – really know – how to mine the data you have, and you have a lot, and drill down to the information you need today?

On the show is  Anurag Mukherjee, the Head of the Analytics practice for Credit Unions & Community Banks at EXL, a large global analytics and digital solutions consulting firm headquartered in New York.

What sold me on doing this show was when I poked around the EXL website and landed on a case study where EXL worked with DCU, the big Massachusetts based credit union, to transform how the institution managed and used its data.  Here’s the concluding sentence of the case study: “Within six months, the IT team migrated 30 months of data consisting of over 5.8 billion documents into Amazon Redshift for analysis. The data is refreshed each night, enabling the business teams to access up-to-date information on which to base decisions. In addition, each sales executive has a self-service dashboard delivering them the insights they need to better support their clients.”

For many years I have looked upon DCU as a genuine tech leader among credit unions and if DCU was turning to EXL for help in organizing its data I had to know more about the company.

In this show we hear about the work EXL did for DCU but also about what all credit unions need to do to prosper in an ever more competitive environment. We also hear about a chronic credit union problem – data from many different tech vendors often is siloed and unavailable to use in other systems from other vendors.

Throughout this is an upbeat, optimistic show where the credit union future is depicted as bright – if the institutions digitize and keep digitizing to let them compete against everything from Chase to Chime.

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