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CU Rise Leverages the CU Analytics Ecosystem to Make Advanced Predictive Analytics a Reality for Credit Unions

Posted by Mark Portz on Oct 18, 2018 12:01:00 PM

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Minneapolis, MN (October 18, 2018) - OnApproach (www.onapproach.com), the leading provider of data/analytics solutions for credit unions, is excited to announce the integration of CU Rise Analytics’ solutions to the CU Analytics Ecosystem. CU Rise Analytics, a Virginia-based, global CUSO providing data science and technology advancement solutions to credit unions, is now offering the Predictive Model Suite to M360 users, which consists of 3 predictive analytics models. CU Rise is also proud to announce that they have now made it possible for OnApproach M360 clients to do their own member “Householding”. The CU Rise Householding for M360 application is now available as an application and will be soon be featured in the CU App Store (www.cuappstore.com). The contributions of partners like CU Rise are key to the expanding the CU Analytics Ecosystem.

CU Rise, an OnApproach Application Partner, now has 4 applications built on the M360 platform, demonstrating the value of OnApproach’s industry-standardized data model. By building these models with CUFX compliance on the OnApproach M360 platform, CU Rise can frictionlessly deploy analytic applications, minimizing the need for lengthy and resource-intensive installations. As a result, credit unions can now access robust predictive analytics faster than ever.

The CU Rise Predictive Model Suite currently includes:

  • Member Attrition Prediction
    • Identifies the likelihood of a member to attrite from the credit union in the next 4-9 months. Member Attrition Prediction also identifies “why” the member is likely to attrite and will assist in designing appropriate retention strategies.
  • Product Propensity
    • Identifies the next best product for a member based on one’s performance and transaction behavior.
  • Engagement Score
    • Derives the Member Engagement score based on one’s activity with the credit union in the last 6 months. With Engagement Score, a credit union can evaluate how active and engaged a member is based on the balances, transaction volume, and product penetration.

The suite will continue to grow as additional applications are generated and made available to credit unions. In addition to the M360 Predictive Model Suite, CU Rise is also now offering an application for member householding:

  • Householding for M360
    • Provides credit unions with a fuzzy matching algorithm to perform household-level grouping of credit union members. This application enhances cross-sell opportunities, mitigates risk and creates marketing efficiencies at the household level.

The Collaborative Analytics Ecosystem for Credit Unions - Watch the Video

“OnApproach M360 Enterprise and the CU Analytics Ecosystem provide the perfect platform for us to expand the reach of our models and improve data-utilization across the credit union industry,” stated Karan Bhalla, CEO, CU Rise. “In order to continue to compete in financial services, credit unions must build competencies in predictive and prescriptive analytics. As a CUSO, we are passionate about advancing the credit union movement through effective analytics, and we are very excited to make these applications available across the M360 platform.”

“It is fantastic to see organizations such as CU Rise leveraging and generating such value to the M360 Enterprise platform. Our solution is designed to provide maximum value to credit unions by providing a standardized platform. This enables all credit unions to take advantage of collaboration across the industry by easily building and sharing analytic applications, eliminating the need for traditional ETL processes. We are proud to be able to offer, and effortlessly integrate, the CU Rise Predictive Model Suite to M360 clients, and we look forward to the effects these analytic insights will have on the credit union movement,” said Paul Ablack, CEO, OnApproach.

About OnApproach

OnApproach is the only CUSO dedicated to credit union success through a collaborative analytics ecosystem. By providing a secure and frictionless data experience, OnApproach empowers credit unions to take full control of their own data and their own futures. We exist to serve the credit union movement with technology and expertise required for the digital transformation of the industry business model. OnApproach’s collaborative ecosystem enables communities of users, data scientists, and application developers focused on analytics innovation. Learn more about OnApproach at www.onapproach.com.

Contact Information

Austin Wentzlaff, Vice President of Business Development

austin.wentzlaff@onapproach.net 

(888) 523-6121 Ext. 110

www.onapproach.com

About CU Rise Analytics

CU Rise Analytics is a Virginia-based, global CUSO that was started with the sole mission of helping credit unions better understand, serve, and support their members in the most effective and efficient manner. CU Rise’s service offering centers around data science and technology. Our core competencies are data analytics, predictive modeling, business intelligence, and technology services. Learn more at www.cu-rise.com.

Contact Information

Karan Bhalla, CEO

karan.bhalla@cu-rise.com

+1.703.473.1574

https://www.cu-rise.com/

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