Helping Credit Unions harness their big data to gain insights in their members and marketplace is our passion!
Credit Union's data is rich with insights to help them better understand their members. The following are a few examples of the business problem, insights and results. For detailed results please visit the client case study page.
Business Problem: Increase credit card use with a loyalty program.
Business Insights: Credit union described their members as blue -collar male and wanted to create a loyalty program aligned to retailers the membership would frequent. Upon reviewing transactions, it was noted that a high percentage transactions were made to traditionally female retailers. Upon closer review, a significant percentage of credit cards were held with a joint owner identified as female.
Results: Creating a credit card loyalty offering that included incentives targeted at male and female members.
Business Problem: Stagnant loan growth.
Business Insight: Research concluded lending process and channel were separate silos
Results: Channel and lending process alignment resulted in the credit union experienced the highest loan growth in the recorded history of the organization.
Business Problem: Low new member engagement.
Business Insight: The largest concentration of new members were identified aged 18-34 with great credit but low auto, credit card and checking product penetration and 33.6% usage of an online channel.
Results: Enhanced online/mobile offering (included RDC) and onboarding process resulting in increased mobile adoption and overall loan growth by new members.