​Data Preparation for Credit Unions

Automate reconciliation and exception reporting

Relying on manual processes to combine data from multiple systems introduces human error, inefficiency and inaccuracy. Unfortunately it’s commonplace to have daily processes, like core system reconciliation, ATM and cash transaction reconciliations and exception reporting, rely on this manual work. Automating the reconciliation process reduces errors, saves time and repetitive work and accelerates exception identification, ensuring fast and accurate financial reporting to better evaluate credit union performance.

Analyze member spending for targeted marketing

ACH and Debit reports contain invaluable information on how members spend their money. But, TXT, PDF or CSV reports from the core banking system are impossible to analyze. Datawatch makes this data usable so you can market to members based on financial needs. Marketing departments can identify members who pay loans to other financial institutions and offer refinancing at a lower interest rate. Proactively addressing member needs improves client retention and gets you ahead of the game.

Optimize loan and mortgage servicing

The massive reports generated by mortgage servicing platforms are burdensome to store and manage. It can be challenging to properly fit them into your reporting and analytics strategy. This leads to slow reporting and a backlog in mortgage servicing for clients, causing frustration and dissatisfaction. Datawatch offers a seamless process for extracting, manipulating and reporting on loan and mortgage activity. Faster reporting ultimately leads to better servicing and customer-satisfaction.

Our Credit Union Customers also use us for:

  • Automating 5300 Call Report creation
  • Fraud detection and prevention
  • Automating core system migration
  • Data extraction from core banking system reports
  • ATM terminal activity analysis
  • Analyzing the full view of member relationships
  • Eliminating repetitive Excel processes