The Decision Maker

Whose Data is it Anyway?

Posted by Austin Wentzlaff on Aug 30, 2017 11:06:00 AM

By now it’s clear, data and data analytics is an extremely important growth area for credit unions. Behind it all, there is one main motive – monetizing data to its fullest extent.  There is tremendous value to be unlocked from data, and with it, tremendous money to be made by monetizing it.  However, the burning question in the credit union world is: Whose Data is it Anyway?

There are a lot of “solutions” out there to help credit unions leverage data to their fullest extent. Whether it be an analysis on the loan portfolio to increase net interest margin or a next best product analysis to increase the number of products per member.  All are extremely beneficial to the credit union’s top line, bottom line, and members.  Yet, how we get to these analytic outputs is extremely crucial.

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Topics: Credit Union Service Organization, Data Ownership

4 Reasons to use Credit Union Service Organizations (CUSOs)

Posted by Austin Wentzlaff on Aug 20, 2015 2:10:40 PM

“[CUSOs] provide a means to an end – allowing credit unions the capability to fulfill the financial needs of their members in a cost effective environment through efficient delivery channels.  Plus, they attract the brightest and most innovative minds to the board table, bringing best practices of credit unions across the country, which is a priceless experience.”  – Doug Petersen President/CEO of Workers’ Credit Union.

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Topics: Big Data, Credit Unions, Credit Union Service Organization, collaboration

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.

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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.

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

7 Challenges of Implementing a Big Data & Analytics Solution

Posted by Austin Wentzlaff on Apr 13, 2015 12:59:00 PM

Most credit union leaders are familiar with the concept of Big Data and business intelligence, but many fail to fully understand the significance they have on their credit union and its future.  Big Data & Analytics can provide credit unions with the ability to make better decisions that positively affect member relationships and ultimately their top and bottom lines.  There are several obstacles in the Big Data & Analytics process that need to be overcome in order to achieve success.  These obstacles typically take an extensive amount of time to conquer, especially the first time they’re encountered.  Credit union leaders should consider the following challenges before implementing a Big Data & Analytics solution:

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

TopLine Federal Credit Union Joins OnApproach as Newest CUSO Member

Posted by Austin Wentzlaff on Mar 5, 2015 2:00:00 PM

Plymouth, MN (March 5th, 2015) – OnApproach (www.onapproach.com), the leading provider of Big Data and Analytics for credit unions, is pleased to announce TopLine Federal Credit Union (TopLine) has made a CUSO investment with OnApproach.  TopLine selected OnApproach as its Big Data/Analytics provider in 2012.

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Topics: Analytics, CUSO, Credit Union Service Organization

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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.

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