Research & Insights
As digital disruptors join predatory lenders in the battle for business, it's becoming increasingly important to have a high level of member intelligence so you can more effectively fight the good fight. Simple analytics and digital strategies set credit unions up for right-now impact.
How can an organization start the next chapter of its story when everyone is on a different page? It's a question many leaders today are confronting as they build strategies for all kinds of transformation, from data and digital to mindset and culture. While there is no singular answer, there is a foundational one: To start your next chapter, empower a champion change agent.
By now, many of your members have received Economic Impact Payments of $600 or more as part of the U.S. government’s second economic stimulus action. Others are anticipating the extra funds becoming available around tax-return time. How members plan to use that money to improve their financial situations will depend greatly on the guidance they receive.
Read Pacific Service Credit Union's own story to find out how the credit union shifted its strategic priority to become a more data-driven organization, achieving quick wins that built momentum for long-term data analytics vision.
Although the federal student loan repayment pause is scheduled to end on Jan. 31, 2021, many believe it will be renewed, generating even more "should I or shouldn’t I" questions for education debt holders – and an even greater imperative for credit unions to offer guidance. Explore three analytics strategies for empowering members to navigate the maze of student debt.
Cooking with Data: Kohler Credit Union Centers Community Campaign on Member Insights from Google Analytics
Seek first to understand, then to be understood. Living out that value, Kohler Credit Union has found, is much easier with the help of data intelligence. With lobbies closed and some employees working from home, the team wanted to remind members and neighbors their local credit union was there for them. Discover how the credit union creatively leveraged data to do something special for its community – just in time for the holidays.
Our blog series “8 Minutes with AdvantEdge Analytics” is a collection of eight-minute (or less) reads featuring brief interviews with our top thinkers on trending topics in the credit union space. In the fifth post in the series, Shazia Manus, our Chief Strategy & Business Development Officer, explores how data — when taken out of context, used for profit over people or looked at through a filter of bias — can drive life-altering, industry-disrupting, world-changing decisions.
Credit unions and their indirect lending teams would be wise to prepare for a steady increase in activity, as well as enhancements to the financing experience to meet the expectations of pandemic-era borrowers. Vicki Potter, our Senior Analytics Performance Manager, shares best practices for leveraging data analytics to drive indirect evolution.
In this next in our series of interviews with AdvantEdge Analytics thought leaders tackling trending topics in the credit union space, Keith Dunlap, Managing Director, shares why credit union leaders must shift their mindset if the movement is going to improve financial lives like it's supposed to.
As credit union CFOs help guide colleagues and board directors through the different phases of the pandemic, maintaining financial excellence will enable greater flexibility, creativity and purpose-driven decision making. Nikole John, Analytics Program Analyst, explores three questions to ask to keep your financial factory running at peak performance.
If consumer demand for speedy innovation was high before COVID-19, it's off the charts now. Learn why sales and service must be strategically intertwined to deliver on credit union promises.
Our series "8 Minutes with AdvantEdge Analytics" is a collection of eight-minute (or less) reads featuring brief interviews with our top thinkers on trending topics in the credit union space. In the third post in the series, Stephen Arnold, our Vice President of Customer Delivery & Business Management, shares why analytics will be a critical competency for credit unions as they work to sustain relevancy with the generations of people whose lives have been fundamentally altered by the global response to COVID-19.
As credit unions have grown both in size and scope of services, the stacks of reports finance executives must weed through has only grown larger. In this blog post, our Vice President of Product Management Brian Bodell explains how the ability to see a credit union’s daily financial performance eases strain on decision-makers during COVID-19.
In this next in our series of interviews with AdvantEdge Analytics thought leaders tackling trending topics in the credit union space, Client Strategy Consultant Benito Santoro offers insights on agility and being ready to adapt quickly to change – whether it’s a fintech competitor or a global pandemic.
With the help of data analytics and the insights it generates, credit union decision-makers will be in a much better position to help members navigate the winding road ahead. Keith Dunlap, our Managing Director of Sales, shares how simple analytics strategies make planning through uncertainty possible.
Before a credit union can prudently determine how much support it can offer members during these challenging times, leaders must first step back and take the time to establish an adjusted risk tolerance. Analytics Performance Analyst Nikole John shares how to lead with compassionate values while leaning on analytics skill.
In this first in a series of interviews tackling trending topics in the credit union space, Client Strategy Consultant Daragh Fitzpatrick offers insights on delivering human-centric personalized service while also maintaining a safe social distance.
Several data sources, accessible to most credit unions, are well-suited to deliver actionable member intelligence for identifying and helping members challenged by pandemic-related disruptions. In this article, Emily Engstrom, our Director of Client Success, explores three data sources that stand out as most accessible and insight-rich.
Speaking from his experience at auto industry disruptor Carvana, our Managing Director of Sales, Keith Dunlap, shares how tech companies often do an outstanding job turning rudimentary data into incredible, almost wizard-like insights.
As more credit union staff work from new environments, safeguarding member data and privacy is paramount. Discover best practices for securing your personal space from a cybersecurity and work-from-home expert.
The 2020 Herb Wegner honorees – Teresa Freeborn, Maurice Smith and John Fiore – represent everything that’s right with the credit union movement.
On its own, data is just that – minuscule bits and bytes of information. When brought together with analytics technology, however, once-disparate data sets generate insights capable of changing lives – and, in some cases, even saving lives.
Data scientists wanted to transform the world with advanced computing, but advancements in these three areas had to happen first: Big Data, Big Processing and Big Algorithms.
When passionate data experts get in the same room, great conversations happen. CUES recently pulled four such individuals together to share their perspectives on the credit union data transformation journey, and the dialogue was insightful and uplifting. The group demonstrated how, with great strategy and follow through, successful data programs are well within reach for the nation’s financial cooperatives.
This third in a series of articles exploring critical questions around transformation and growth looks at how data analytics gives credit union leaders the insight to more readily reimagine the value their cooperative can add to the lives of their members.
This second in a series of articles exploring critical questions around transformation and growth offers considerations for leaders who are thinking about future growth, and specifically the role partnerships can play in achieving long-term prosperity.
In this first in a series of articles exploring questions for helping credit union executives make critical decisions around transformation and growth, we examine how financial cooperatives – entities already wired for collaboration – can work with potential disruptors to reimagine value for members.
Learn how BCU's Chief Data Officer leveraged well-rounded expertise and the credit union’s long-held appreciation of business intelligence to accelerate data transformation.
Evolution does not happen overnight. Leaders who take small, thoughtful steps deliver the most meaningful change over time.
Incumbent companies in several legacy industries have proven you don’t have to be a startup to evoke disruptive innovation from within. Just take a look at these three companies, each transforming itself for the digital era while closing in on its 100th year in business.
Robots, automation and the artificial intelligence that powers them are about replicating human intelligence, not replacing it. Explore why, without human ingenuity, technology may fail to fully realize its potential.
Explore possibilities for how humans and machines can work together to optimize credit union operations and improve the member experience.
Explore the two missing elements of the Model A’s historic birth story that are crucial to our modern understanding of innovation in an era of rapid digitization.
At its core, digital transformation is about exploring a new frontier. But that does not mean explorers must abandon the homestead. In fact, when done right, digital transformation reveals new ways of looking at the old.
For the final post in our series on AI myths, Shazia Manus explores a common fear around what it will take to achieve the processing power necessary for AI success: cloud computing.
Continuing our series exploring three common AI misconceptions that may be standing in the way of the technology's potential to bring about meaningful change, Shazia Manus explains AI isn't years down the road; it's already here.
In part one in a series of articles separating fiction from truth when it comes to AI, AdvantEdge Analytics' Chief Strategy and Business Development Officer Shazia Manus tackles the misconception that AI will one day overpower humans.
Data is coming at us fast and furiously, and the volume of data being aggregated today is almost incomprehensible. By hosting Innovation Summit, our goal was to help our credit union partners, and our own team members, embrace the art of possibility with the science of data.
The digital footprint each consumer produces has grown exponentially over the last 10 to 15 years. Combined with advances in data analytics, businesses now have the ability to develop insights like never before, and they are investing heavily in that strategy.
The key to improving and transforming your credit union lies in gaining actionable insights from the best data. When employed effectively, it results in a new kind of lead generation, a different approach to cross-sell, better life event marketing, and more.
A little while ago, I was giving a talk on predictive analytics, and a young professional in the audience interrupted me: “What exactly is a data scientist, anyway?” he asked. Given the number of people who suddenly perked up to hear the answer, I realized he wasn’t the only one in the dark. If you’re wondering, too, allow me to shine a little light science on the topic. Let’s start with data science.
As more credit unions design and test their approaches to data analytics, a few common traps that slow success are emerging. During their talk at the 2018 NAFCU Annual Conference, our own Tim Peterson and Shazia Manus talked through five of these pitfalls and offered advice for side-stepping them.