Since COVID-19, people and companies, both have been facing unprecedented challenges and concerns. This has altered their needs and the way they behave. As stated by Kate Smaje, Mckinsey, and Associates – “Covid-19 has launched the greatest behavior
2020 has brought lots of ups and downs for all of us. In the first two months, things were supposed to be great. Businesses were ready with their business plans, focused on continued growth, projects, and schedules were aligned and related things we
Economies organize around challenges and rise to overcome scarcity. With a shifting economic model, how do you catch the attention of the consumer?
COVID-19 has brought unprecedented changes to the industry- Online Shift, new merchant, and consumer
Here is the 2020 CULytics Summit - Attendee Dashboard
If you do not learn how to use and tame artificial intelligence, it has the capability of creating havoc in your organization.
In this article we have discussed about AI and key challenges, how it provides business value, how to scale artificial int
In these times of pandemic, everyone is affected to a certain level. Your Credit Union members might be worried about the current situation and the situation in the coming future. So, you need to understand the importance of building long term rel
A lot has changed since the few months. We are dealing with the unknowns and uncontrolled, that creates an environment of uncertainty. This is accompanied by economic pains like rising unemployment claims, restricted or closed businesses, and many m
For financial institutions, the importance of having short dispute resolution cycles and quick to respond technology cannot be undermined. With the increasing use of technology, increased frequency of online financial transactions, there is always a
Changing to Online or Mobile Banking Systems platforms, within a stipulated period is a cumbersome and a daunting task. Many factors come into consideration- for example- how will members respond to the new systems, or how the Credit Union will be ab
Marketing teams aim at bringing marketing to the table as a strategic leader. Marketing automation tools help marketing teams collect, understand, and use data in a simpler, faster, and calculative manner. It is easier to reach out to members and pot
Data affects almost all functions of a Credit Union. Some functions might depend on analytics more than others. In this article, we will discuss such opportunities and challenges which can incur in the way in organizations. We will discuss questions
Chatbots provide users with the ability to use a conversational interface to facilitate interaction with companies and help accomplish tasks. As Artificial intelligence continues to power automatic solutions, conversational tools like chatbots have n
Through effective branch and ATM networking, Credit Unions can provide services to members across diverse geographic locations. The challenge remains to maintain this access at the same time as generating revenue and driving growth. In this article,
How deep is your credit union relationship with its members?
Credit Unions want to build a deep relationship with their members. It is beneficial and most cost-effective for a credit union to get an additional account from an existing member in comp
For Credit Unions, branches represent an important channel to engage with the members. However, it is also one of the most expensive channel with high capital and operational costs. The location, utilities, staff and other expenses add up very quickl
The most sought after process for Credit Unions when it comes to marketing is sending the right message, to the right person, at the right time, and in the right place. In this article, we discuss how close Credit Unions can get to this holy grail o
Data analytics should not exist in a vacuum. For the member focussed framework of credit unions, decisions need to be based on meaningful data that can be put to use productively. Through business intelligence data is transformed into actions. Busin
Delinquency ratio is the number of past-due loans divided by the total number of current loans. It is an indicator of the quality of a bank's loan portfolio.
A lower delinquency rate signifies the higher quality of the loan portfolio; however, it may
There are multiple channels through which members engage with the credit union, which is accompanied by a tremendous amount of data, which makes the overall marketing function complex for credit unions. There are two big issues which credit unions a
The members of a Credit Union contribute to a lot of varied data. How can this varied data be used practically to achieve a social currency through members? In this article, we provide you with some answers to this question so that you do not end up
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