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Archive by category: Data ManagementReturn
Jan 28, 2019
Make no mistake a digital revolution is upon us and credit unions need to react and change in order to serve their members.
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Dec 17, 2018
Digital transformation has revolutionized retail banking and data is the jet fuel for the seismic shift in the credit union business model. A data strategy is foundational for credit unions to compete in today’s digital world and is required to effectively implement a holistic platform of enhanced analytical decisioning. Business Intelligence and analytics (all powered by data) are cultural shifts analogous to moving from ledger cards to core technology platforms.
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Oct 05, 2018
In our earlier posts, Part 1 and Part 2, we shared credit union trends revealed in the bi-annual survey conducted earlier this year by Information Builders’ partners Best Innovation Group (BIG) and OnApproach.
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Aug 22, 2018
Data is fundamental to your digital transformation. Customers must be able to efficiently and effectively manage transactions online. Credit Unions must be able to infer customer needs from those transactions and reach out to customers where they “live” online, whether through email, social media, or text. This blog post presents a simple recipe for getting your data in order as a foundation for digital success.
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Jun 21, 2018
In our last blog, we explored results from The National Survey on Credit Union Data Analytics and Decisioning Trends and touched on their implications.
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Jun 11, 2018
“We are not moving fast enough. We need to move 2x or 4x faster,” says John Janclaes, CEO of the $1 billion Partners Federal Credit Union headquartered in Burbank, CA. “Some might say faster is in order".
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May 04, 2018
Many credit unions are successfully building the fundamental skills and infrastructure they need to utilize data more effectively. They’re aggressively investing in analytic tools, staff skills, and warehouses, but less so in the newer tools of decisioning, fraud, and predictive machine learning and AI technologies.
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Oct 24, 2017
Modern members are no longer willing to wait for their credit union to provide them with what they need. Instead, they want it to provide the products and services they need now, when they need them – or even before.
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Aug 22, 2017
Most consumers have at least three credit cards from various sources. In addition, many people also carry one or two debits cards and a mix of gift and loyalty cards. A recent Gallup poll showed most Americans foresee the death of cash in their lifetimes, meaning all purchases will be made with credit and debit cards, as well as other forms of electronic payment. For the big issuers, this is rosy news, but for smaller institutions like credit unions, it can be stormy.
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Aug 22, 2017
Credit union interchange revenue is a key part of every credit union’s bottom line. Credit Unions have seen impressive growth and the industry looks to continue this expansion by growing markets size and keeping pace with improving technology trends. However, despite this growth, there are several factors that can limit your interchange revenue if you don't keep a careful watch on them.
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