Data and employees key to the flywheel that drives revenue

Knowing members’ details and managing them personally helps align business and sales goals.

There’s a formula to improving revenue margins—a flywheel of actions that are proven to sharpen results. This formula involves having clean, actionable data that empowers employees with the knowledge to deliver a better member experience and coaches them to make the most of these interactions. Better interactions deliver value and drive profitability, allowing the cycle for mutually beneficial and profitable relationships to continue.

Credit unions have built their reputations on knowing their members and being their financial advocates, but as relationships have become increasingly digitalized, there is a need for better systems to support this crucial differentiator. Such systems must provide a consolidated view of the member’s account and transaction-level data gathered into a single environment accessible across the organization. Having this level of insight enables credit unions to create a holistic view of their members and behaviors, further revealing key revenue opportunities.

When data is clean, transparent and managed in a meaningful way, employees will understand the entirety of the member relationship and will be empowered to educate, encourage, and promote products and services that are beneficial to each member and household. At an individual level, these relationships will become more profitable for the credit union as employees will be able to cross-sell additional products and services to the member, based on their individual preferences. Taking this a step further, employees will also have full visibility into how a member might be part of a family who also banks at the credit union, which will unlock opportunities to further strengthen and develop the relationship.


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