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American Banker: How a former Adidas exec is transforming BECU

June 17, 2022 | 0 min read

American Banker
How a former Adidas exec is transforming BECU
By Robin Arnfield
June 17, 2022

(Excerpt):

Fumbi Chima, BECU's executive vice president and chief information officer, is helming a multiyear project to modernize the credit union's technology, with a goal of making it easier to work with fintech partners and to remove pain points for members. 

Fumbi Chima

“At the heart of our digital transformation is the need to serve our members more quickly, as it’s now much easier and cheaper for consumers to switch financial institutions than ever before,” Chima said. ...

BECU is migrating from its legacy systems to a service-oriented architecture with a secure interoperable application programming interface layer, enabling plug-and-play integration, Chima said. “We’ll also migrate the right capabilities from our old environment, where it makes sense.”

Including an API layer in BECU’s IT architecture will facilitate integration with third-party service providers and fintechs. One fintech BECU has partnered with is the financial data platform MX in Lehi, Utah, which developed the BECU Envelopes mobile app feature, enabling BECU members to build savings through frequent, small-value transfers. BECU Envelopes will be rolled out to the credit union’s full membership in July or August, Chima said.

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