Truliant Federal Credit Union Brochure 2019

Truliant Federal Credit Union A member-centric digital transformation

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Truliant Federal Credit Union

A MEMBER-CENTRIC DIGITAL TRANSFORMATION

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WE SPEAK TO CIO SANDEEP UTHRA ON A MEMBERCENTRIC GOAL OF DIGITAL TRANSFORMATION THAT IS ACCELERATING OPERATIONAL EXCELLENCE AND BUSINESS GROWTH

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ruliant Federal Credit Union, a 66-yearold financial institution, has a singular and important mission: to improve the lives

of its members. According to Sandeep Uthra, Truliant’s chief information officer, the credit union 04

focuses on helping members make decisions that improve and help manage their financial lives.

Unlike for-profit financial institutions, Truliant stays away from pushing products on its members.

“We are a different kind of company,” he says.

Truliant has 230,000 members and assets in excess of $2.3bn and provides individuals and small businesses with products, services and guidance to reach their ‘life’s goals’, including checking accounts, online and app banking, auto buying, certificates and business/financial advice, and auto and home loans. According to Uthra, Truliant’s USP is its member-centric approach.

“First and foremost, we are a not-for-profit organization,” Uthra said. “That’s the biggest difference between us and other banking institutions.

But, more so, our goal is to improve each of our

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Hybrid IT Solutions

Colocation

Cloud

Connectivity

Managed Solutions

Professional Services

41 data center campuses. One dependable network.

888.552.FLEX

Flexential.com

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“ OUR CEO AND PRESIDENT TRULY UNDERSTAND HOW TECHNOLOGY’S GOING TO REALLY HELP TAKE US FORWARD IN MEMBER SERVICE” — Sandeep Uthra CIO, Truliant Federal Credit Union

members’ lives, by working as trusted partner or provider of the right guidance to achieve their financial aims,” Uthra explains.

“While traditional banking is more about rates and fees, all of our products and policies are consumer, not market, driven. We put people before profit. We are member-centric. We’re not just here to make money. This helps our members create financial security within their own aspirations. ”

IN THE BEGINNING Uthra joined Truliant in late 2016 as CIO. He was charged with helping shepherd the w w w.t rul i a ntfcu . org

08 E X E C U T I V E P R OF IL E

Sandeep Uthra Sandeep has over 20 years of experience developing and executing information technology (IT) strategies, including serving in executive roles in the financial services space.

A native of New Delhi, India, Mr. Uthra has served in global IT leadership roles in product, consulting and financial corporations in Asia, Africa and the United States. Most notably, Mr. Uthra was Senior Vice President, Business Solutions Technology Executive at Bank of America.

He leads Truliant’s Enterprise Service Delivery, Enterprise Architecture, Application Development, Systems Operations, Technology Support Services, Infrastructure Services, Information Security, and Telecommunications teams.

09 strategic direction for Truliant’s overall

logical solutions to achieve those goals.

technology landscape and to help

We really tailor our offerings as per our

drive its technology transformation.

members’ needs to provide a top-notch

“As a trusted advisor in the company,

member service.” Truliant targets

I needed to get us to a point where

locations where they are needed most

we better understood business and

and still operates a traditional guidance-

members’ needs as per our company’s

based approach. “We’re very big on

objectives.”

face-to-face interactions. We don’t

Uthra’s highly strategic role was to

want to remove the humanity in front of

help develop a roadmap that would

us. We will always keep face-to-face

achieve Truliant’s business plans by

interactions.”

leveraging technology. “As part of the Chief Planning Team, I’ve worked hard

THE HUMAN TOUCH

to understand business needs as well

While human-centric guidance is at the

as those of our members with techno-

heart of Truliant’s approach, it is adopting w w w.t rul i a ntfcu . org

“ I HAVE OTHER COMPANIES LIKE MERIDIANLINK WHO SUPPORT US FROM A LENDING PLATFORM STANDPOINT AND THEN SECURITY PARTNERS SUCH AS FLEXENTIAL WHO PROVIDES HOSTING CAPABILITY” 10

— Sandeep Uthra CIO, Truliant Federal Credit Union

more technologically advanced processes to better prepare for the future of banking.

“Members are changing the way they interact with financial institutions,” he explains. “I think we all know that these days people compare our sector with companies like Amazon, right?

They want us to be simple and nimble – like shopping on Amazon. This demand is driving us to create a simpler, more nimble and innovative personalization for all members.

The consumer experience is king.”

“On the other hand, data is at the consumer’s fingertips from many external sources to compare product or services so they are well informed. It is in our best interest to know consumers’ personalized needs in a faster and agile way, to provide them with the best in-class experience. To make all this happen, we have focused on technology architecture, because speed is the new currency in financial institutions.

These days, technology architecture must be simple enough to support integrated channels and with an alignment of data to understand or predict members’ needs.

“Simplification and Personalization is the game here,” Uthra explains. “Financial institutions should work to simplify their technology landscape and leverage microservices or APIs (application programming

CLICK TO WATCH : USING THE TRU2GO APP 11 interfaces), to support faster and more

index of processes and technology,

nimble integration with cutting-edge

which gave Truliant a direction for

products and services.”

future investment to achieve its goal of simplification and optimization of the

DIGITAL ECOSYSTEMS

members’ journeys/interactions. “Our

When Uthra joined Truliant Federal

vision is to enable consumers of our

Credit Union, he hired an enterprise

technology with a simple, faster and

architect to help build out business

personalized experience. “Our CEO

technology ecosystems to understand

and President truly understand how

dynamics around business units,

technology’s going to really help take

functions, processes and underlying

us forward in the personalized member

technology. He then sat with internal

service.

teams and critical partners to identify

“We know that it’s important to adapt

friction between those ecosystem

and evolve quickly in line with the

constructs. This resulted in a maturity

fast-paced changes in today’s financial w w w.t rul i a ntfcu . org

services landscape. Our goal is to create an impactful, best-in-class digital journey that is both dynamic and personal, and maintains an authentic human connection,” says Truliant President Todd Hall.

The other important factor in Truliant’s technology transformation is partnership with fintechs and product companies for technology transformation.

“Our strategic partners support us to achieve our vision. Companies like Fiserv who support our core banking platform perspective. MeridianLink provides lending capabilities and 12

Flexential provides hosting capability.

Veristor enables us with virtualized environment, to aid better manageability and performance and security of infrastructure – because it’s not just about spending or investing in infra-

the near future: simpler, faster and

structure, it’s more about how to optimize

personalization. If I’m a member, and

that in terms of performance and security.

I need a home, normally I would reach

Palo Alto Network really helped us to

out to a realtor or a mortgage or lending

safeguard our technology and infra-

company. We reach out to the builder

structure and Secureworks provides

and to many other folks to achieve that

information security capabilities.”

goal for our family. But an ecosystem approach asks: ‘Why can’t we bring all

FUTURE TRENDS

these kinds of players into same

For Uthra, the future of the industry lies

ecosystem and make it happen? So, as

in ecosystem-driven personalization.

a customer or a member, I will just reach

“I see these three things happening in

out to a bank or financial institution like

34 Number of office locations

$2.3bn Approximate value of assets

1952

Year founded

Truliant and say, ‘I need a home.’”

really fortunate to feel that I’m part of

Uthra also sees increasing leverage

this high technology team that brings

of APIs for greater integration in sector

those kinds of innovations together.”

technology with many third-party or indirect product companies. I see artificial intelligence and data playing a big role. Data is going to provide integration value because it will predict and say what our customers or members are asking and at what point in time.

“I take pride in leading this vision because of our people and culture. I’m w w w.t rul i a ntfcu . org

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Truliant Federal Credit Union P.O. Box 26000, Winston-Salem, NC 27114-6000 T +31 20 240 1680 | www.adyen.com