The Decision Maker

The Dirty Data Debacle

Posted by Peter Keers, PMP on Aug 26, 2015 3:12:00 PM

Credit unions today are increasingly aware of the mountain of valuable data accumulating in their core and other operational systems. With technology evolving at a rapid pace, opportunities to leverage this data are becoming not only more available but also more affordable than ever before.

Read More

Topics: Big Data, Big data/analytics, data integrity, Data Quality

Internet of Things: Retail Banking (Bank of Things)

Posted by Austin Wentzlaff on Aug 5, 2015 4:25:50 PM

The Internet of Things (IoT) has gained a considerable amount of hype as the “Next Big Thing” to change the world as we know it. Applications of IoT are thought by some to be limited only by the human imagination. From simply controlling your home (e.g. - lights, thermostat, etc.) with a smartphone, to life saving medical and healthcare systems, IoT is pervasive and growing rapidly.

Read More

Topics: Analytics, Big Data, Big data/analytics, Internet of Things (IoT)

Using Big Data & Analytics to Move Beyond FICO and LTV for Loan Decisions

Posted by Paul Ablack on Jun 24, 2015 11:30:00 AM

The FICO score has a long and well-established history as a key metric in the determination of credit-worthiness. The FICO score has the power to influence whether or not a person will be able to experience significant life events, like the purchase of their first car or their first home. However, as we rapidly enter the age of Big Data and Analytics, does the FICO score utilize enough information to make an accurate determination of a borrower’s ability to pay? As I consider the future of credit unions, I believe the industry’s position on the significance of the FICO score in their underwriting process is an important issue. Is FICO a major determining factor, or is it merely one of many data points that can be used to predict probability of default for a given loan?

Read More

Topics: Analytics, Big Data, Big data/analytics, FICO

Credit Unions Must Collaborate for Big Data & Analytics

Posted by Austin Wentzlaff on Jun 19, 2015 11:30:00 AM

“Alone we can do so little; together we can do so much” – Helen Keller

The credit union industry (or credit union movement as it’s often referred to) is probably one of the most collaborative industries in the United States, if not the entire world. Unlike other organizations, credit unions share everything from ideas to secrets. They truly care about the welfare of the industry and its millions of members. It’s great! Collaboration benefits credit unions in several ways – however, in my opinion, one way in particular presents the biggest opportunity.

Read More

Topics: Analytics, Big Data, Big data/analytics, collaboration

Big Data Insights Found in Unexpected Places

Posted by Austin Wentzlaff on Jun 4, 2015 10:13:00 AM

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, I attended a session presented by Bill Goedken, President & CEO of Idea5, entitled “Mining Gold – New Trends and Discoveries in ‘Big Data’ That Will Help Your Credit Union Compete.”  During Bill’s session, he discussed the ways credit unions can leverage external data to better serve their members.  While both internal and external data are extremely valuable, the combination of the two is where the real value lies.

Read More

Topics: Analytics, Big Data, Big data/analytics, Data Analytics

The Last Mile: Why a Semantic Layer Matters for Big Data & Analytics

Posted by Peter Keers, PMP on May 26, 2015 11:43:57 AM

Credit unions are ramping up their adoption of Big Data & Analytics. The frustration with valuable business information being trapped in multiple data silos has boiled over.  Projects to integrate these disparate data sources into a single source of truth are being launched every day. Now, many credit unions have the ability to slice and dice their data and drill from individual transactions up to aggregated totals.

Read More

Topics: Analytics, Big Data, Big data/analytics, Semantic Layer

Big Bang Disruption in the Credit Union Industry

Posted by Kim Carlstrom on May 11, 2015 12:31:00 PM

During the 2015 NACUSO Conference, Credit Union Industry Disruption and Predictive Analytics drew particular attention from those attending. It was quite clear that significant changes are coming to the credit union industry and those changes will happen quickly.  As John Best, Best Innovation Group (http://big-fintech.com ), stated during his presentation, there are several credit union industry disruptive trends on the horizon, which include Lending Clubs, mobile banking applications, and changes in payment technology.   

Read More

Topics: Big data/analytics

Credit Union Industry Disruption: NACUSO 2015 – Part 2

Posted by Paul Ablack on Apr 27, 2015 12:43:00 PM

Last week in my blog, Credit Union Industry Disruption: NACUSO 2015 – Part 1, I talked about the pending threat of Big Bang Disruption in the financial services industry and the growing prominence of predictive analytics. In this second and final blog on the learnings from the NACUSO 2015 conference, I will cover what we learned about how credit unions can respond to Big Bang Disruption and the strategic importance of Predictive Analytics.

Read More

Topics: Analytics, Big Data, Big data/analytics, predictive analytics, Credit Union Service Organization

Credit Union Industry Disruption: NACUSO 2015 – Part 1

Posted by Paul Ablack on Apr 20, 2015 12:51:56 PM

I had the opportunity to attend NACUSO 2015 in Orlando last week. NACUSO is a great conference to interact with other thought leaders in the credit union industry to make valuable business connections. It is the essence of the “credit union movement”, a group of talented industry leaders looking for ways to collaborate to make the industry stronger.

Read More

Topics: Analytics, Big data/analytics, Apple Pay, predictive analytics, CUSO, Lending Clubs, Credit Union Service Organization

Cooperative Analytics: The Standard Data Model

Posted by Nate Wentzlaff on Apr 16, 2015 12:30:00 PM

In order to cooperate more effectively, credit unions must “read from the same book” by agreeing on common meanings for their business terms. 
Read More

Topics: Big Data, Big data/analytics, Cooperation, Analytic Data Model, Semantic Layer

Subscribe to Email Updates

You now have more information at hand about your credit union than ever before. But are you using it to "out-think" your rivals? If not, you may be missing out on a potent competitive tool.

This blog will:

  • Educate subscribers about data integration and Big Data and Analytics.
  • Provide tips and best practices.
  • Provide entertainment.
  • Share ideas and expertise.

Recent Posts

Posts by Topic

see all