Oklahoma’s Credit Union partners with Lodestar Technologies to lead data transformation
VANCOUVER, BC, CANADA (April 1, 2022) — Lodestar Technologies Inc., a business intelligence leader in the financial services industry, welcomes its newest client to the growing community. Oklahoma’s Credit Union (OKCU), based in Oklahoma City, has chosen Lodestar as a trusted partner in their initiative to transform the credit union’s data strategy.
OKCU will implement the robust Lodestar Enterprise Data Store (LDS) and several Workflow Management Tools to provide a single, fully-integrated and accurate source of truth for all data, as well as intelligence and analytical capabilities to support the overall digital transformation and member experience.
Lodestar’s analytics tools provide clients a best-of-breed analytics solution built on Oracle’s latest business intelligence platform. The solution seamlessly aggregates all strategic data sources for the credit union, allowing for immediate access to data by all levels of staff to manage operational areas such as risk, delinquency, collections, fraud management as well as more strategic areas such as sales management and marketing campaigns.
Aligned with OKCU’s objectives, Lodestar will empower all areas of the credit union, with immediate initiatives including:
· Easy-to-access data-driven projections for budget planning projects
· Modeling for a variety of use cases, including risk management, product performance, consumer behavior and more
· On-demand tools to be used for process improvement, leading to improved member and employee experiences
In addition to sophisticated tools, Lodestar offers a guided approach to data strategy, with personalized engagement roadmaps designed to propel clients along their analytics journey. Lodestar’s experienced technical team boasts in-depth knowledge of the Fiserv DNA core banking system, along with many other key technology providers in the financial services space.
OKCU also selected Lodestar’s workflows to automate identification and resolution of data quality exceptions, mine sales and service opportunities based on business rules and support and streamline task management. The Lodestar workflow modules have the ability to provide insights into process improvement as well as streamlined sales and marketing management by leveraging all data sources. “With our team’s in-depth knowledge of the DNA core system, we see this is as a great opportunity to partner with OKCU in order to achieve both the credit union’s strategic objectives and also drive enhancement of our services and solutions,” said Steve Mott, VP Sales for Lodestar.
Dale Thurman, OKCU’s Digital Product Director, is among the team leading the data strategy for the credit union. “We are very excited about our decision to partner with Lodestar as we continue to enhance our products, services, and experiences,” said Thurman. “Harnessing the power of our data, as well as streamlining many of our workflows, will allow us to focus on what is most important to us: our members.”
About Lodestar Technologies
Lodestar is a technology leader in data services and analytics for credit unions and banks in North America. The Lodestar Enterprise Data Store and workflow modules provide a turn-key data warehouse solution with the ability to integrate to all key systems used in the financial services ecosystem. In addition to integration with the Fiserv DNA core banking system, the solution also offers out-of-the-box integrations with more than 50 sources, such as credit card, loan origination, wealth management and other third-party suppliers. Coupled with its robust data warehouse and visualization platform, Lodestar also offers a wide range of tools to support all business lines, ranging from strategic initiatives and planning to day-to-day activities.
Oklahoma’s Credit Union has been happy to help Oklahomans for over 65 years. In 2003, OKCU was granted a community charter which opened membership to anyone who lives, works, worships or attends school in the Oklahoma City Metro Area. Currently, OKCU has over 600 million dollars in assets, employs more than 140 people and offers branch access at over 100 locations across Oklahoma and over 5,000 locations nationwide. OKCU serves over 47,000 people who enjoy benefits such as low or no fees on services, higher rates on deposits, and low rates on home or auto loans.