The last two years have forced financial institutions of all sizes to adapt to rapid changes, reassess processes, build resiliency, and maintain a flexible approach about how best to operate as a business. For our part at Trellance, that has meant doubling down on the product innovations that allow people to reimagine how and where they work, how services are delivered, how data is secured, and how members’ needs are identified and understood.
Today, I am pleased to announce the latest innovations across Trellance Business Analytics solutions that will be delivered to clients in the 22.1 release during the coming months. Trellance 22.1 builds on earlier releases to help credit unions transform their organizations and become stronger, more secure, more resilient, and able to deliver personalized experiences at scale.
Acceleration to the Cloud
The growing demand for cloud-based data analytics has accelerated at an incredible pace during the last year thanks to continued downstream effects of COVID-19. Since the launch of Trellance M360 Cloud Edition (CE) in October 2020, we have seen a growing propensity to adopt cloud based solutions from credit unions of all asset sizes. In fact, 65% of credit unions have either invested in cloud or plan to invest and implement according to a recent Cornerstone Advisors survey.
Release 22.1 marks further advancement of our Business Analytics Cloud Edition offering. M360 CE now supports the three leading core systems (Episys, Keystone and DNA) and offers a cloud edition of our industry-leading predictive analytics offering. Predictive Analytics CE leverages AI and native cloud technologies to identify patterns and suggest actionable insights.
I am proud this latest release moves Trellance’s goal forward to democratize credit union access to AI. It uses this powerful technology to help our clients reduce member attrition, identify clusters of behavior within their membership, and anticipate the most appropriate products based on each member’s unique experience with the credit union. The use of “AI as-a-Service” allows credit unions to act faster, better utilize data, and be highly responsive. Ultimately, it creates personalized, meaningful, and timely experiences based on member preferences.
Furthermore, as security is a chief concern for all credit union executives, we have strengthened our security posture in the cloud. Trellance recently obtained the Cloud Security Alliance’s STAR (Security, Trust, Assurance, and Risk) Registry Level 2 certification, which requires a rigorous third-party independent assessment and meets the highest security requirements in the financial industry. We are also compliant with SOC 1 and 2 standards and is a Level 1 Service Provider certified with the Payment Card Industry Data Security Standard.
Increasing Access to Data
Release 22.1 expands our Descriptive Analytics offering by adding Temenos Infinity Collections (Akcelerant). This enables credit unions to monitor all collection activities, spot patterns in member repayment behavior, and identify the next best collection action. As a result, our M360 platform now supports 18 standard integrations with many leading banking systems, across a variety of vendors. This makes Trellance the leading data analytics platform by number of available integrations and by number of implemented clients.
In addition to new integrations, we improved the existing ones by adding the ability to ingest data directly from Advanced Reporting for CUs (ARCU) for Episys clients. This reduces the time and expense to extract historical data and load it into M360. We also enhanced the PSCU and Prologue connectors by updating the file loads and by adding control totals, respectively. We made significant enhancements to the M360 data processing technology with the goal of further reducing data load processing time.
Within Predictive Analytics, release 22.1 lays the foundation of Trellance Unified Data Analytics Platform (UDAP). Once finalized, it will provide credit unions fast access to predictive analytics use cases without the need for M360. For credit unions that have already invested in a non-Trellance data analytics platform, this is a fundamental enabler to still leverage the benefits of Trellance AI-based predictive analytics models.
Improving Insights and User Experience
In release 22.1, we expanded dashboards and insights by adding:
- M360 Executive Dashboard: Designed to give credit union leaders a pulse of their credit union’s performance by including key performance indicators for Return on Investment, Loan to Share Ratio, trending for Deposit balances, Loan balances and Member Growth.
- M360 Glossary & QuickConnects Data Dictionary: Two new dashboards provide a quick reference and easy access to M360 data elements taxonomy, facilitating understanding and custom reporting by clients.
- New Member Personas predictive model: This new model within the Trellance Predictive Analytics suite provides added context about credit union members’ behavior using a combination of engagement score and channel activity. Each member is classified into pre-built industry clusters so each group’s characteristics can drive specific marketing actions that increase member retention and the efficiency of marketing campaigns.
22.1 also introduces the Trellance Insights Portal. Protected by Trellance Identity and Access Management including 2-factor authentication, portal users have secure and seamless access to enterprise data and can visualize 60 different Power BI® dashboards through one common portal environment. Within the portal, cloud clients can display and customize dashboards grouped by domain and save “favorites” for easy access. Administrators can define and manage permissions for their credit union users. With a centralized portal and delegated administration, user experience and onboarding are improved, while security risk is significantly reduced.
Our latest release is only the beginning. In 2022, we will focus on continually improving user experiences and creating a best-in-class SaaS offering.
Near-term plans for Descriptive Analytics and Predictive Analytics solutions include integrating new capabilities such as benchmarking and data quality apps to further elevate and simplify the process of converting data into valuable information. We are also working hard to add Fiserv CCM to the increasing list of supported M360 integrations. We’re enabling greater credit union adoption of AI tools by simplifying access to our portfolio of AI-based predictive use cases and streamlining the data ingestion process.
As always, I am immensely proud of the innovation we deliver every 90 days to our customers. Stay tuned for more exciting updates!
Chief Product Officer, Trellance