Challenge: Bankers struggled to access loan and deposit data, which limited their insight into business operations.

Solution: Thanks to Domo, bankers now leverage in-depth dashboards to access data from across the organization.

Impact: Officers can easily monitor their entire portfolio, drill into specific markets or customers, and discover trends across deposits and loans.

Origin Bank increases its loan and deposit insights with Domo

Founded in 1912, Origin Bank combines the latest technology with a relentless focus on relationships, serving customers across Texas, Louisiana, Mississippi, Alabama, and Florida. Thanks to Domo, Origin Bank is able to use all the data at its disposal to build stronger connections with customers.

“Our vision is to combine the power of trusted advisors with innovative technology to build unwavering loyalty by connecting people to their dreams. Domo fits seamlessly with that vision,” said Jon Wages, Senior Data Advisor at Origin Bank. “Domo was a no-brainer.”

Expanding access to data with dashboards

Before Domo, Origin Bank struggled to access and use all the data stored across its data warehouse and other siloed sources. This kept employees throughout the business from being able to take action quickly. “We kept running into issues with the speed and ease of access to our data or our ability to uncover trends over time. We could do it, but it was a very manual process,” Wages said.

“There were many instances where we couldn’t actually get the information we needed out of our data,” said Regina McNeill, EVP- Strategic Planning and Market Analytics at Origin Bank. “A great example is our lenders, who didn’t have the ability to see their portfolio mix or how it changed from day to day.”

Thanks to Domo, bankers can easily access and analyze customer data to uncover new insights and provide more responsive service. Dashboards make it simple for bankers to monitor their entire portfolio in near-real time, drill into specific markets or customers, and discover trends across the bank’s deposits and loans. Bankers can also now easily compare loans and balances over different time periods to uncover what drives major shifts.

“Previously, if a lender wanted to review their portfolio, they’d have to wait for a monthly report to come out or contact us for a custom report. With Domo, they can pull all their data up with a few clicks. Being able to actively monitor their portfolio mix on a daily basis for both deposits and loans allows us to make proactive decisions instead of being reactive,” Wages said. “I’ve had numerous lenders say we’re saving them 15 to 20 minutes a day accessing data, which is huge for us.”

“Domo enables us to be better managers and make more educated decisions. In a faster environment, that has been very powerful for us,” McNeill said. “The biggest benefit is being able to bring all our data into one place, and then being able to access and visualize to make educated, actionable decisions.”

Since implementing Domo, Origin Bank has been able to roll out access to nearly 250 officers across all its branches. In just its first month, the bank’s officer dashboard was accessed more than 9,000 times. “People were using it every day, if not multiple times a day. This is one of the few times where adoption of a new system wasn’t a worry for us,” Wages said.

“We recently acquired another financial institution, and we heard they were so thankful for Domo because it eliminated the learning curve for them in terms of getting access to the data they need every day. We’ve also had new lenders come from much larger institutions and tell us they didn’t have anything like Domo at their previous bank. Any time you can have a tool that allows you to punch above your weight, that’s something to be super proud of,” Wages said.

Making every dollar go further

Origin Bank uses Domo to extend its insight into new markets without requiring new tools. For example, a vendor recently approached Origin Bank to offer an analysis tool that would uncover how the bank’s customers engage with cryptocurrency.

“Our CEO contacted us after meeting with that vendor to ask if it was something Domo could handle. In just a few weeks, we were able to create a similar dashboard, saving the bank from spending $100,000 on the tool,” Wages said. “We had another provider offer to sell a data package that would break down our debit card transactions. This service would have cost $105,000, but we had already built something like it in Domo.”

“Within our first year, Domo saved us roughly $200,000 by allowing us to skip purchasing those solutions, which was huge,” he said.

Thanks to Domo’s consumption pricing model, Origin Bank can save even more by ensuring it only pays for what it uses. It also allows the bank to scale its usage as it grows while providing the opportunity to explore all of Domo’s capabilities.