Dynamic credit card dashboard allows credit unions to uncover valuable patterns and trends in member spending
Background
Credit cards are one of the most profitable products for credit unions, and they are extremely dynamic in nature. Most of the data is controlled by the card processor, giving credit unions less freedom to conduct strategic analysis to uncover patterns and trends.
Studying this data reveals a lot about member spending and transactional behavior. This intelligence can facilitate effective strategies for driving stronger member engagement and loyalty.
Solution
CU Rise recognized the opportunity to create dynamic dashboards that allow credit unions to better utilize credit card data for actionable insights.
Approach
Results
CU Rise’s Credit Card Analyzer extracts, aggregates, and synthesizes credit card data from a credit union’s credit card payment processor.
- It facilitates tracking strategic credit card initiatives along with associated risks and performance.
- As a portfolio assessment tool, it extracts detailed trends across various performance metrics
- Credit unions can view key metrics by month and compare against prior months to stay on top of shifting or cyclical patterns.