Data | Insights | Action
Agenda
Changes in the Industry
The Data Driven Process
Closing the Gap
Actions to take
Our Background
Founded in March 2014 by a team of former Baxter Credit Union employees with technical and business
wisdom.
At BCU, SavvyIntel’s founders helped deliver BCU’s state of the art data warehouse and partnered with executives to craft insights to manage and enhance
performance.
Microsoft BizSpark 360k Partner
Tableau Alliance Partner
1871 Chicago
Northwest Credit Union Association
Pennsylvania Credit Union Association
Partners
Wallet Share
Changing Demographic
Millennials and Big Banks
Millennials and Big Banks
Chase…A Technology Company
Source: Business Insider
Credit Unions
Credit Unions Are Lagging Behind
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
What happened?
Why did it happen?
What will happen?
How can we make it happen?
Val
ue
Difficulty Source: Gartner
Data Monetization?
Ability to gain profits from data
Digital Strategies
Reduce Expenses
Minimize Attrition
Improve Marketing
ROI
Insights From this picture?
Member Snapshot
SPM/PPMProduct
Mix
Member Make
Up
Debit Bill Pay eStatements Mobile UsersOnline
Banking Overdraft Transfer Checking Auto Loan Total PPM/SPM
Member 1 X X X X 4
Member 2 X X 2
Member 3 X X X 3
Member 4 X X 2
Member 5 X X 2
Insights From this Video?
Member Behaviors
Member 1
Date Merchant $
3/1 BP $ 17.00
3/8 Shell $ 26.23
3/15 Shell $ 15.17
3/20 BP $ 14.29
3/25 BP $ 10.33
3/26 McDoanlds $ 7.54
3/31 Speedway $ 25.48
Member 2
Date Merchant $
3/1 Amazon $ 53.26
3/9 Sprint $ 110.75
3/25 Ebay $ 23.55
Member 3
Date Merchant $
3/1 Amazon $ 53.26
3/1 Target $ 110.75
3/1 Ebay $ 23.55
3/2 BP $ 17.00
3/2 McDoanlds $ 26.23
3/3 Shell $ 15.17
3/4 BP $ 14.29
3/7 Hair Cuttery $ 10.33
3/9 McDoanlds $ 7.54
3/10 Speedway $ 25.48
3/10 Wendys $ 4.35
3/12 State Farm $ 50.00
3/13 Best Buy $ 248.23
3/14 McDoanlds $ 4.23
3/14 Hertz $ 76.26
3/15 Sprint $ 115.65
3/15 Hilton $ 259.63
3/15 Potbelly $ 7.54
3/16 BP $ 25.89
3/17 Grocery Store $ 165.32
3/18 Target $ 23.65
3/20 Walgreens $ 5.25
3/22 Golf Course $ 55.00
3/25 Amazon $ 34.69
3/27 Grocery Store $ 123.36
Transactional Data Provides Behavioral Insights
When?
Where?
How?
Opportunities
Targeted Marketing
Improved Member Loyalty
Segment and Take Action
Transaction Analysiso Target members
o Marketing Priority (retain, maintain, stimulate, etc.)o Loyalty based on member profile (gas, grocery, etc.)
o Member Re-engagement
o Overlay demographic metrics
Retention Managemento Early Warning Indictor
o Targeted Re-engagement
Target MembersMember Segment Marketing Priority Loyalty Marketing Stimulation Marketing General Marketing
Member 1Gas & Car Care
Stimulate higher usage Any gas station, seasonal car care
Add a category for increased use (i.e. food, groceries)
Vertical purchase in gas/car
Member 2College Student
Maintain preference, stay alert for college graduation
Internet coupons or telecom marketing
Internet shopping Needs based spending
Member 3Card as Cash
Retain Relationship Fast food, retail shopping
Restaurants and Entertainment
Small purchases, eating out, entertainment(movies)
Move the Needle
• Introduce new offerings
• Reduce marketing costs
• Combine transaction analysis with profitability tointroduce relationship pricing
• Focus on highly engaged transacting members
Other Ways to Monetize Transactional Data
•Utilize transaction data to identify opportunities
Data Mining
•1 to 1 targeted marketing
Partnerships
Future of Credit Unions
Financial Advisor to the financially engaged masses.
- Ron Shevlin
Data | Insights | Action