By 2014, nearly 45 million people will use their mobile phones for personal banking purposes. This includes accessing account information, transferring money, paying bills, and receiving fraud and status alerts. Boeing Employees’ Credit Union (BECU)–the fourth largest credit union in the nation–is well aware of the growth in mobile banking, which is why it already had a mobile program in place for its members. However, when the provider of its mobile banking service announced it would need to pull the plug in nine months due to change in business strategy, BECU had to act quickly so that its 35,000+ mobile users wouldn’t lose access to their mobile banking services.
To ensure that there would be no interruptions in service, BECU made this initiative its top objective and engaged Point B to help create a like-for-like solution to replace its existing service. Point B:
- Led an accelerated but comprehensive vendor selection process since developing a solution from the ground up was not an option due to time.
- Led a large, cross-functional build and deployment team that included the Vendor Solution Provider, Vendor Integrator, Virtual Banking Team, Integration Engineering, Development, IT Security, IT Networking, Functional Test Team, Performance Test Team, Compliance, Training & Internal Communication, External Marketing, Member Care and Member Solutions.
- Negotiated an extended service time with BECU’s existing service provider to serve as an insurance policy against any potential build and deployment delays.
Crossing the finish line in record time
The tight timeline required all hands on deck throughout the duration of the project. Point B mitigated resource issues with the Vendor Solution Provider and Vendor Integrator by increasing visibility with top-level stakeholders. We helped:
- Deploy and operationalize the new mobile banking service on time and without disruption to credit union members.
- Provide input into development of a long-term product roadmap.
- Position BECU for future releases to support multiple mobile platforms and to offer functionality as technical capabilities expand (e.g., ATM/Branch Locator and SMS text banking).