Hyper-personalized credit line strategies boost credit union card revenue
Webinar planned for Jan. 15, 2019, at 12:30 p.m. eastern
NEW YORK, NY (January 9, 2019) — Failing to evolve traditional underwriting models may put soon put community financial institutions out of the credit card game all together. This is the perspective of EXL Analytics, which helps credit unions minimize risk and identify new channels for growth through data mining and consultation. The group is planning a webinar to explore modern, data-driven methods for underwriting and to walk through a proven strategy for credit card program optimization – hyper-personalized credit line management.
The 45-minute webinar will be hosted by EXL, which has worked with numerous issuers to optimize credit card line management strategies.
One of these issuers is a $3 billion credit union looking for ways to grow outstanding balances without a high marketing expense. To meet this goal, credit union leadership settled on a data-driven, hyper-personalized credit line increase (CLI) campaign.
What separated this campaign from more traditional ones was EXL’s four-step process, which segments cardholders based on their likelihood to react to different offers. The highly targeted approach ensures the right offer reaches the right cardholders at the right time, increasing both the effectiveness and ROI of the campaign.
For the $3 billion credit union, the CLI campaign generated $7.7 million in incremental spend, as well as $3.4 million in incremental balances – all in the span of 10 months.
To learn more about data-driven CLI campaigns, credit union cards teams are encouraged to attend EXL’s webinar, “How and Why a Credit Line Increase Campaign Will Grow Your Credit Card Portfolio.” The event will take place on Tuesday, Jan. 15, at 12.30 p.m. eastern. Online registration is open now.
About EXL Analytics
EXL (NASDAQ: EXLS) is a leading operations management and analytics company that designs and enables agile, customer-centric operating models to help clients improve their revenue growth and profitability. Our delivery model provides market-leading business outcomes using EXL’s proprietary Business EXLerator Framework®, cutting-edge analytics, digital transformation and domain expertise. At EXL, we look deeper to help companies improve global operations, enhance data-driven insights, increase customer satisfaction, and manage risk and compliance. EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries. Headquartered in New York, New York, EXL has more than 31,000 professionals in locations throughout the United States, Europe, Asia (primarily India and Philippines), South America, Australia and South Africa.
