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Wednesday, 12 April 2017 01:16

Teachers Mutual Bank deploys Dell Boomi platform for digital transformation

By
David Chapman, Teachers Mutual Bank David Chapman, Teachers Mutual Bank

Teachers Mutual Bank has deployed the Dell Boomi integration platform-as-a-service as part of its multi-year, multi-million-dollar digital transformation strategy.

Under the deal with Dell Boomi, the bank has created a flexible, enterprise-wide data environment that links its core customer management system and extensible services layer with its internal processes.

Boomi has also provided TMB with the critical capability to connect to the latest third party fintech developments, and the Bank has already engaged with Spriggy — a prepaid Visa card for children controlled through a mobile app — and is considering personal financial management applications that will deliver additional secure, customer service capabilities to its members.

And according to TMB, Boom deployment has boosted its competitiveness against Tier 1 banks by connecting multiple capabilities, and enabled it to quickly and easily capitalise on new technologies, including innovations in fintech.

“When we kicked off our long-term digital project, it was clear that mobile platforms were going to be the prominent platform-of-choice for our members’ interactions with the Bank,” said David Chapman, chief information officer at TMB.

“In particular, we correctly anticipated that integration best-of-breed apps from third party developers would provide the best platform to deliver omni-channel experiences on customers’ terms.”

The automation capabilities within the Boomi platform have resulted in reduced operating costs for the bank, and cost savings are expected to increase significantly as Boomi is integrated further to the core banking systems and processes, including planned integration of business process management toolsets to streamline all banking operations.

The Boomi project is the final piece of TMB’s wider digital strategy and the overhaul of its customer service capabilities.

Boomi says that since commencement, the initiative has encompassed multiple deployments supported by significant investment budgets.

As well as allowing TMB to maximise value from existing investment, the Boomi platform supports merger activity and expansion objectives by providing a means to quickly plug new businesses into existing operations.

“The financial services sector is hotly contested, with banks under pressure to meet increasingly-demanding customer expectations,” said Michael Evans, managing director Asia-Pacific and Japan at Dell Boomi.

“By leveraging the cloud to connect its customer services platform with leading apps which customers rely on a day-to-day basis, Teachers Mutual Bank can continue to create uniquely tailored and flexible customer experiences.”


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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