Interra Credit Union has formed a strategic partnership with Arkatechture, a leading data analytics fintech, to elevate their data analytics capabilities and drive transformative growth. This collaboration marks a significant milestone in Interra's ongoing commitment to innovation and excellence in member services.
In late 2022 and early 2023, Interra Credit Union conducted an extensive review of its data program. Evaluating every facet of their data strategy—from executive buy-in and operational needs to long-term objectives and technical capabilities—led them to the decisive conclusion to reboot their program. One of the initial steps in this transformation was the search for a new data analytics partner, culminating in their partnership with Arkatechture.
The partnership with Arkatechture aligns perfectly with Interra’s strategic objectives for rebooting their data program. Their key goals include:
- Instituting robust data governance in collaboration with the credit union.
- Adopting an advanced analytics platform to enhance capabilities as they mature, leveraging insights from other credit unions using the same platform.
- Establishing a singular "source of truth" for organization-wide data reporting.
- Standardizing automated reporting processes to eliminate manual efforts.
- Fostering a data-driven culture that guides decision-making and boosts performance.
- Developing a data strategy that delivers value, enhancing their service efficiency and effectiveness for members and staff.
Arkatechture emerged as the ideal partner to help Interra achieve these goals for several reasons. Their alignment with Interra’s data center and cloud platform strategies means they can avoid additional staffing or third-party consulting expenses. The feedback that Interra heard from other credit unions made them feel even more confident about their choice to partner with Arkatechture.
“The comments we heard highlighted Arkatechture's ease of collaboration, timely delivery, and adherence to budget constraints. Additionally, their inclusion of pre-made data validation tools and emphasis on data quality from the project's outset further solidified them as the ideal choice,” said Todd Woods, Senior Vice President of Technology at Interra Credit Union.
With Arkatechture's modern and evolving platform, Interra will fully leverage data as a competitive differentiator and relationship-strengthening tool. This partnership will empower their team to harness data's full potential, ultimately enhancing their ability to serve members more effectively. Interra is renowned for serving their members with excellence and integrity. By advancing their data capabilities, they aim to improve personalization, streamline reporting, enhance decision-making, and explore new product and service opportunities. These advancements are poised to significantly benefit Interra’s members and the communities they serve.
Interra Credit Union is excited about the future possibilities this partnership with Arkatechture will bring. They are committed to leveraging data to drive innovation and deliver exceptional value to their members.
odd Woods, Senior Vice President of Technology, Interra Credit Union