Teachers Mutual Bank agreement fuels digital transformation journey

Teachers Mutual Bank (TMB) teamed up with Dell Boomi (Boomi) as a part of the bank's digital transformation strategy.

Dell Boomi, an independent business unit of Dell, is used by over 5300 organisations. Features of the Dell Boomi include an integration platform to improve the way organisations connect, create, manage and govern their applications and data.

The bank utilises Boomi's platform-as-a-service (iPaas) to create a flexible, enterprise-wide data environment. This links TMB's core customer management system and extensible services layer with its internal processes.

With Boomi, TMB can connect with third party FinTech developments and the bank's engagement with Spriggy is a recent example of this.

Spriggy is a prepaid Visa card for children controlled through a mobile app. Going forward, TMB is considering personal financial management applications that will deliver additional service capabilities.

The collaboration is motivated by the demand for an omni-channel, mobile-first experience.

David Chapman, chief information officer at TMB says, "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.

Chapman adds, "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.

Chapman says that with the modernisation of their environments with the introduction of these best-of-breed applications, TMB needed the critical component to tie that data together on an ongoing basis.

He continues, "we selected Boomi for its powerful cloud-based and user-friendly integration software so that we can ensure that all data is accurate and up-to-date no matter where it is accessed.

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

He says, "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.