Innovative Technology leaders Segmint and Corelation enter partnership to enhance credit union user experience
Segmint’s cooperative with Corelation brings data analysis to the forefront to enhance member engagements
CUYAHOGA FALLS, OH (September 16, 2021) — Segmint, the global leader in transaction cleansing and analytics for financial institutions, announced a partnership with Corelation, the innovators in core processing for credit unions. The collaboration between these two industry-leading technology innovators in the financial services space will deliver an accelerated member experience, using insights derived from account holder transaction data. Corelation’s growing stable of credit union clients will now have a seamless path to Segmint’s solutions, resulting in immediate impact for their members.
Corelation’s Keystone core solution leverages state-of-the-art architecture with the bold goal of transforming the way credit unions operate. This solution is a person-centric system that empowers credit unions to offer the best member service possible, enhancing their value for member attraction and retention. As credit unions upgrade their digital offerings to remain competitive, it is critical to leverage data as their core competency to execute 1-to-1 relevant messages across multiple channels, where their account holders are engaging. Segmint’s solutions do just that.
“The capabilities of both Corelation and Segmint align this collaboration at the pinnacle of innovation. Adding an industry leader like Corelation to our ecosystem furthers our strategy to partner with organizations that bring value and a competitive edge to the financial services industry,” said Greg Gruning, Chief Revenue Officer for Segmint.
In line with being a leading innovator in the data analytics space, Segmint’s Merchant Payment Cleansing service is a differentiator in the industry in terms of speed, accuracy and scale. Transaction cleansing is a critical tool that allows financial institutions to better understand member transaction behavior and model spend patterns.
Additionally, Segmint’s Marketing Automation Platform then leverages the insights from payment and transaction data to strengthen member relationships through relevant marketing strategies and messaging fueled by Segmint’s proprietary patented Key Lifestyle Indicators (KLIs). KLIs are assigned to each anonymized member based on their products, activities and interests, channel preferences, competitive product mix, spending habits, product recency, among many other unique insights from a combination of predictive and real-time transactional behavior.
Segmint also recently announced the launch of its industry leading AI Platform, a cloud-based and always-on predictive modeling engine which can build and deploy custom predictive models for any financial institution within two weeks. The AI Platform boasts seamless data integration with multiple cores where data flows into the models on a daily basis, continuously updating the insights. The first in a new generation of AI modeling capabilities is Segmint’s Predictive Attrition Model, where KLI’s are the catalyst to guide financial institutions to decrease their attrition rates by predicting which account holders are likely to leave in the near future.
“The platform delivers predictive models at incredible speed and scale, using insights that describe the full universe of account holder data, now giving community banks and credit unions a major competitive advantage using predictive analytics,” said Nate Shahan, Chief Product Officer.
Segmint empowers financial institutions and financial technology providers to easily understand and leverage data, interact with customers, and measure results. Derived from billions of transactions, Segmint provides the fastest and most accurate customer insights through advanced data tagging, categorization, and contextualization. Our insights enable all functions of an organization to develop informed strategies including competitive analysis, risk, marketing, customer experience, and product innovation. For more information, visit www.segmint.com.
About Corelation, Inc.
Based in San Diego, CA, Corelation is the innovative core processor for today’s credit union. This solution is a person-centric system that empowers credit unions to offer the best member service possible, enhancing their value for member attraction and retention. In terms of industry experience, Corelation’s staff has dedicated their careers to creating core systems and providing unparalleled client service. For more information, visit www.corelationinc.com