Fraud Monitoring and Detection Analytics Proactively Protect Credit Union Members By Nate Wentzlaff Credit unions confront a new reality that is now shaped by changing member behaviors that are motivated by a national health and economic crisis. Thousands of non-essential brick-and-mortar shopping sites are closed for now. Credit union branches are either closed altogether or […]
Trustworthy Data Correlates to Sharper Insights from Analytics, Better Member Service and Lower Cost Structures in All Business ConditionsBy Merrill Albert, Data Services Delivery Director Apart from a credit union’s members, the member data it stores in multiple systems and databases represent its next most valuable asset. But some credit unions may struggle to successfully […]
Credit Unions are Using Data and Increasing Lines of Credit to Support Members during COVID-19 by Ann Farrell, Director of Portfolio Growth With rising unemployment, stay-at-home orders, and volatile markets, one thing is clear – the global coronavirus pandemic has upended the financial situations of many consumers. Credit unions play an essential role in helping […]
Data Analytics Use Cases for Easing Members’ Financial Anxiety and Building Stronger Member Relationships Credit unions have a long history of helping members during times of crisis. But most of these crises were generally localized in specific regions and communities of the U.S. None of these events though, as devastating as they were, compare to […]
Three Trends That are Here to Stay Because of COVID-19by Paolo Teotino The world, as we knew it has been completely redefined by COVID-19, which, in such a short time, has had a remarkable impact on our lives and the way we do business. It is impossible to estimate the long-term implications of this pandemic, […]
Managing your data takes work. Just because you have data does not mean it is the correct data. You must make sure that you have useful data to inform the rest of your operations. People who are good at managing data are usually those who like having structure and disciplined processes that others will support. […]
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The Data Warehouse is not Enough
Credit unions are beginning to invest heavily in big data and analytics. When deciding how to allocate funds in this space, leaders are awash with buzzwords and conflicting advice. One of the most common terms used within big data and analytics is: data warehouse. Deciding whether to build or buy a data warehouse is an […]
It’s often easy to overlook the obvious. As a team member of OnApproach, a company that integrates all of the disparate data sources within a credit union into a single source of truth, I have failed to recognize the value of ALL the data available to credit unions. At the 2015 CUNA CFO Council Conference, […]
Getting Out from Behind The CurveChapter 1 of this series considered the importance in establishing a specific goal to solve using data analytics and proving the ROI in order to justify automation and decisioning using business intelligence in a credit union. Chapter 1 also highlighted two real use cases of success credit unions have had […]
The credit union industry looks very different now than it did twenty years ago. Just think about what credit unions will look like twenty years from now. Where does the journey for the next twenty years start? Twenty years ago, it would have been hard to imagine remote deposit capture, peer-to-peer payments, or even mobile […]
