The Decision Maker

Stop Worrying about Millennials, Say Hello to Generation Z: Part 2

Posted by Mark Portz on May 9, 2017 1:04:00 PM

In the first part of this blog, we learned about who Generation Z is. Now that we have a better understanding of who we are talking about and realize that we need to be prepared, let’s look at what it means for your financial institution.

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Topics: Mobile Banking, Data Integration, Mobile

6 Steps To Deliver Omni-Channel Experiences

Posted by Nate Wentzlaff on May 18, 2015 11:00:00 AM

In an age of increasingly complex relationships, members expect an omni-channel relationship with their credit union.

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Topics: Analytics, Mobile Banking, Marketing, Members, Marketing Analytics, Omni-Channel

Why Your Members Don’t Need You

Posted by Austin Wentzlaff on Apr 6, 2015 11:56:54 AM

Consumers, particularly millennials, are becoming less interested in meeting actual people to solve their problems and more interested in doing it themselves.  With the rise of the internet, information is readily available to all.  This allows consumers to search and find solutions to meet their needs in a matter of seconds.  This is a tremendous opportunity for consumers but it is also a serious challenge for retail institutions.  This is especially true for retail financial institutions such as community banks and credit unions.

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Topics: Analytics, Mobile Banking, Big Data, Mobile Payments, Members, Mobile, Membership

How Credit Unions Can Leverage Big Data [Video]

Posted by Austin Wentzlaff on Feb 5, 2015 11:30:00 AM


 OnApproach's Founder and CEO Paul Ablack discusses today's evolution of Big Data and how credit unions can benefit from this increasingly refined information to provide more specific products and services for enhanced value.

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Topics: Reporting and Analytics, Analytics, Mobile Banking, Business Intelligence, Big Data, Credit Unions, Mobile Payments, Data warehouse, Data Integration, Marketing, Data Pool, Video, Mobile, Shared Applications, Big data/analytics, predictive analytics, Lending Clubs, Cooperation, Podcast

The “Big Four” vs Credit Unions – A David and Goliath Story

Posted by Austin Wentzlaff on Nov 20, 2014 11:57:47 AM

In my most recent blog post, “A Lesson from Amazon & Uber: How to Transform Data into Your Most Valuable Asset”, I discuss the ways in which data is changing how we interact with retail institutions.  Rather than interacting with a physical, brick-and-mortar location, we now see retailers such as Amazon championing a more online/mobile approach.  The reason for this fundamental shift is the growing realization that data is the most valuable asset a company possesses.  It provides valuable insights into customer behavior at a much lower cost than physical expansion, resulting in a higher return on investment (ROI) for the company.

Big Data and Mobile Banking

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Topics: Mobile Banking, Big Data, Big data/analytics, Apple Pay

Apple Pay – A Heads Up for Credit Unions

Posted by Austin Wentzlaff on Sep 15, 2014 7:32:00 AM

This week Apple announced the iPhone 6 which included fingerprint authentication and a new payment service called Apple Pay. I have been keeping an eye on the emergence of the new payment technology, often referred to as the “Digital Wallet” from both a consumer and a business perspective.

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Topics: Mobile Banking, Credit Unions, Mobile Payments, Mobile, Payments

The Recommendation Engine: Using Big Data to Improve Mobile Banking Applications

Posted by Austin Wentzlaff on Sep 11, 2014 7:42:00 AM

“…credit union members are being conditioned every day to expect more personalized information at their fingertips through all aspects of their lives. This information expectation will soon, if not already, be a top strategic priority…” – Paul Ablack, Founder and CEO of OnApproach

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Topics: Mobile Banking, Big Data, Credit Unions, Marketing

Big Data and Mobile Payments

Posted by Austin Wentzlaff on Aug 18, 2014 7:04:16 AM

“…wallets may generate substantial data that will lead to better member insights and possibly also profits.” – Kirk Drake, founder and CEO of Ongoing Operations, LLC

In a highly competitive financial services industry, credit unions are turning to mobile to survive and meet the ever changing demand of members. Credit union members are flocking to their mobile devices to do everything from check balances to deposit checks because they find it more convenient than the “old way” of banking. As credit unions realize their members demand to go mobile, they begin to shift their focus from expanding physically to expanding virtually. Investments in mobile applications will likely dominate credit unions’ budgets in the coming years as they attempt to stay competitive. One of these investments will likely be enhancing mobile payments. Mobile payments will not only make life more convenient for credit union members but it will change the way credit unions interact with their members as they use Big Data and Analytics to gain better member insights.

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Topics: Analytics, Mobile Banking, Business Intelligence, Big Data, Credit Unions, Members

How can Return on Investment from Mobile Banking be Measured?

Posted by Austin Wentzlaff on Jun 3, 2014 2:15:44 PM


“Midsize banks are falling behind in meeting the needs of the fastest growing demographic groups, millennials and minorities, especially in online, mobile and problem resolution,” –Jim Miller, Director of Banking Services at J.D. Power

Mobile banking is top-of-mind for most credit unions in 2014 as they begin to realize the power it has on member interaction and satisfaction. Mobile Banking apps give members the ability to conduct several transactions that in certain ways replace the need for brick-and-mortar branch locations. Most recent advancements provide mobile app enabled credit unions with the ability to promote other banking products and services, attract millennials with perks and incentives, allow members to make mobile payments (also known as mobile Peer-to-Peer (P2P) payments), and even deposit checks through their mobile device. The benefits of mobile banking are undeniable but many midsize banks are not making it a top priority because they don’t have a way of justifying the investment. Measuring return on investment (ROI) for mobile banking apps, or an advancements to apps, can be extremely difficult as there is no real cash flow or revenue numbers associated. With big data reporting and analytics; however, credit unions can observe the effectiveness of an app on its members with ease and as a result be able to measure its ROI.

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Topics: Reporting and Analytics, Analytics, Mobile Banking, Business Intelligence, Big Data, Credit Unions

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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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