We recently ran a webinar series where we asked innovative credit unions to share how they were using technology to make a difference at their credit union. The final credit union in our series was Members 1st Federal Credit Union, who is using the power of predictive analytics to drive increased member engagement.
Members 1st believes in a BIG approach – Build, Implement and Grow. This is similar to a crawl, walk run model. Following this model, they have built up their data and implemented predictive models – now it’s time to grow.
Analytics in the cloud
Members 1st uses a cloud-based system for their analytics programs – and they’ve got some pretty good reasons to do so.
- Security. The cloud provides enhanced security that is easier to configure than on prem servers. Data encryption can be done with just a few clicks on the cloud, as opposed to the high effort process it would take on prem.