Executive Summary
Texas Dow Employees Credit Union (TDECU) transformed its digital banking infrastructure to improve customer experience, enhance identity security, and develop fraud prevention measures. Faced with the need to modernize, TDECU partnered with BeyondID to join hundreds of Fortune 1000 companies streamlining their user interface, developing a mobile-first culture, and strengthening fraud prevention with comprehensive managed identity solutions. The result: a seamless, secure banking experience that aligns with modern customer expectations and positions TDECU for ongoing success in the digital age.
Background
65 years ago, TDECU dealt in physical forms only, but this method of exchanging personal data was less than secure. When the technology became available, TDECU rolled out early digital applications. While cutting-edge for the time, TDECU’s framework was not equipped to evolve with industry best practices, and pain points became hard to ignore as customer experience expectations rocketed into the digital age.
Challenges In Digital Transformation and Fraud Prevention
Simplify Customer Experience
Since heightened customer experience expectations were the driving force behind their transformation, TDECU was eager to replace their offering of scattered applications that required sign- on at multiple locations.
Create a Mobile-First Culture
With 50+ branches and 99% of transactions in- person, employees & patrons would be slow to embrace digital. For successful adoption, BeyondID would need to make services as accessible as possible, and TDECU would need to be prepared to offer educational support.
Improve Identity Security
Fraud was a top concern for TDECU, meaning identity security would need to be robust.
Strategic Solutions Implemented by BeyondID
Digital Banking Experience
BeyondID implemented an omnichannel approach to remote services to organize TDECU’s applications around a central user.
Managed Services
The Okta expertise and years of experience that BeyondID brought to the table were beyond the knowledge of TDECU’s in-house team. As TDECU’s Managed Identity Solutions Provider (MISP), BeyondID was able to fill in the gaps in the company’s Experience Division as staffing fluctuated.
Fraud Prevention Strategy
By bringing fraud prevention into focus as a strategic priority, BeyondID aimed to eliminate modern identity fraud scams preventable by strong identity security.
“BeyondID brought with them all the pillars of expertise we were missing, and with their help, we’ve gained a lot of experience. We’re looking forward to a long partnership with BeyondID – this is a partner that’s going to take us forward and we’re in it together for the long haul.” – John Gallo, VP, Infrastructure & Information Security, Texas Dow Employees Credit Union
Measurable Outcomes and Future Prospects
Seamless Customer Experience
TDECU’s Digital Banking Experience is seamless. Users enjoy SSO access to tools, insights, and help features. The digital experience works in conjunction with customers’ in-person experience.
Improved Security Posture
With the foundation of their secure Okta Platform and BeyondID-enabled banking solution, TDECU can confidently move forward in the digital age wuthout high risk of fraud and other digital threats.
Future-Proof Digital Environment
Unlike TDECU’s original applications, Okta’s modern infrastructure will be able to support the applications powering tomorrow’s digital experience and the high compliance standards they’ll be subject to.
Cost Savings
With help from BeyondID, TDECU was able to accomplish its transformation goals even as outside forces caused the size of their internal team to fluctuate.
Conclusion
TDECU recognized that digital transformation would be necessary in order to bring their systems up to date, support future integrations, and improve their overall customer experience. From the beginning, improving customer experience was singled out as the primary focus of their transformation. With their new digital experience, TDECU is viewed by customers as a modern, secure financial institution with all the charm of a family-run business. Members enjoy a seamless mobile banking experience that complements their interactions with the company’s original brick-and-mortar business model and TDECU leadership can rest easy knowing they have comprehensive fraud prevention measures in place.
