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Importance of Analytics for Credit Unions

This Opinion piece looks at how analytics can be used to personalize the member relationship.

By Bob Legters | Updated on November 05, 2013
Credit unions were created with the idea that people should help people. For that reason, personal touch and interaction is a key differentiator for credit unions when compared to banks. Some might fear that as online and mobile banking become more and more popular, the personalized nature of credit union business will disappear. However, quite the opposite is true. 

When used correctly, active analytics programs provide the opportunity to customize those interactions and increase the relationship – personalizing things to create the same level of individualized attention customers receive at a branch office.

Active Analytics Deepen Member Relationships

Using customer data to aggregate information and gain insight into member behavior may seem contradictory to the collective, personal character of credit union business. But when you consider the benefits active analytics bring to a credit union as well as its members, you can see how easily the positives fit with the credit union ethos.

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