The Decision Maker

Seeing the Wallet

Posted by Aaron Wang on Mar 2, 2013 8:05:51 AM

How can credit unions increase wallet share if they can’t clearly see the share they already have?

Many credit unions suffer from a fundamental disadvantage: they lack a unified view of their members.

So often, information about member accounts is scattered among multiple, stand-alone systems like core processor, credit cards, and mortgage.

Building programs to market additional services requires information from all systems where member data is stored. This can be a big labor-intensive effort involving countless hours of manual work and lots error-prone spreadsheets. The result is a snapshot of member wallet share that is obsolete the next day.

Tracking progress towards goal means updating wallet share data by performing the same unwieldy, costly process over and over again.

Credit unions using OnApproach M360™ have automated the wallet share view. Standard reports and ad hoc analyses are available to help build and track programs to create targeted offers for add-on services, grow revenue, and increase member already have?

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Topics: Big Data, Credit Unions, Data Analytics