Case Study

Teachers Mutual Bank

Teachers Mutual Bank is one of Australia’s largest mutual banks, with over 198,000 members and more than $6.9 billion in assets.

Since 1966 the bank has helped secure the futures of Australian educators with its fi nancial services, products and member support – inspired by its values of advocacy, passion, and sustainability.

The challenge

Like many organisations, the Bank has encountered significant change and opportunities as the company evolves offerings for the digital age.

Driven by a vision of becoming Australia’s largest, most successful, and respected mutual bank serving the education sector and other essential services professions, two new brands (UniBank and Firefighters Mutual Bank) were added in recent years increasing their membership base.

Bringing together the three individual mutual banks under the Teachers Mutual Bank Umbrella required the organisation to deliver a consistent and seamless user experience to its growing member base.

Simultaneously, consumer service expectations have evolved to a point where financial service providers must be able to empower clients whenever they want across devices, platforms, and locations.

The Bank turned to Transformd to overcome some of these business challenges, while growing market share and improving operational efficiencies.

Together the organisations embarked upon a tailored project designed to streamline and unify applications for the Bank’s products and services, and provide a secure and highly personalised online platform for members to easily and safely submit sensitive information.

Engagement experiences included;

  • O Week membership drive
  • Credit Card applications
  • Personal loans
  • Member acquisition
  • Home loan applications
  • General web enquiries

The Solution

Having taken the time to understand the Bank’s unique business challenges and needs, Transformd worked with the bank to deploy the Transformd Customer Engagement Platform.

The technology consolidated multiple customer management databases into the single Transformd Customer Engagement Platform, equipping the Bank with enhanced control and agility of its performance.

Powered by this new capability, the Bank was able to:

Rapidly personalise and publish personalised communications and experiences

Using prebuilt configurations in the Transformd Customer Engagement Platform, the Bank was able to easily and rapidly create personalised communications for members, which are shared across mobile, laptop and PCs.

Improve the speed and quality of service

Insights driven out of the Transformd Data Analytics Platform have enabled the business to test and learn and optimise the customer experiences. It also equipped internal stakeholders with a holistic and integrated view of all data which helped accelerate the speed at which member engagements could be resolved.

Automate responses and interactions

Event driven workflow features in Transformd Customer Engagement Platform automatically trigger prebuilt configurations when certain engagements occur, or information is provided. This ensured members and applicants were served personalised and relevant information that helped progress their query without being held up by resubmitting duplicate information.

Consolidating multiple customer engagement platforms into a single location also empowers Transformd to validate sensitive data and pre-populate member information in real-time based on previous interactions. This further increased the personalised nature of the engagement, and the speed at which it was processed.

“Transformd has given the Bank the ability to innovate and offer a better online experience at the speed our members need.

The ease at which employees, existing members and new applicants can engage with the platform drives multiple efficiencies, and we’re constantly reviewing where else we can leverage its capabilities across the bank.”

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Nicholas Tseros

Chief Member Solutions
Police Bank

Using Transformd to update our home loan forms was a game-changer for us at Police Bank. We saw a 500% increase in engagement and a 900% surge in qualified leads.

Working with Transformd was seamless, with their platform allowing for quick iterations and near real-time optimisations.

The detailed dashboard also greatly enhanced our ability to manage and prioritise our leads effectively.

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Stefanie Zajakovski

Product Manager
Australian Unity

When we needed to migrate our application forms for Personal Loans, Credit Cards, and Account Openings, Transformd not only made the transition seamless but also elevated our user experience significantly.

Their team provided exceptional support every step of the way, making a potentially challenging process smooth and straightforward.

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Edith Vilhem

Head of Digital
Teaches Mutual Bank Limited

The future of our bank is digital, with plans underway to use new digital technologies and drive automation. We are partnering with Transformd to create this future.

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Gaetan Thillou

Project Manager
BankVic

BankVic faced a tight deadline of four weeks to migrate numerous forms from our previous vendor to Transformd. Thanks to the exceptional support and expertise from the Transformd team, not only did we meet our deadline, but we did so with ease. Their efficient process and hands-on assistance were invaluable.

The result

Transformd undertook a detailed process of understanding customer needs and business objectives.

In collaboration with ACD, Transformd developed a system that:

  • Integrates multiple online forms into 1 streamlined process
  • Delivers pre-populated data to make form completion smooth and intelligent
  • Eliminates duplication of effort for both customers and staff
  • Provides compliance with information security requirements
  • Is fast for customers, business partners and staff

  • Reduces costs significantly
  • Is effective and efficient. It operates with almost no incidents.
  • Is customisable to integrate brand and style guidelines
  • Is flexible and easily adapted to suit current and future needs
  • Integrates seamlessly with Illion and Equifax interactions and bespoke needs
  • Is scalable. ACD has already expanded the system due to growth and evolving business needs.

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