OnApproach (http://www.onapproach.com/), the leading provider of big data and analytics solutions for credit unions, is pleased to announce that it has partnered with Best Innovation Group (BIG), a strategic consulting partner to the industry, to conduct an extensive data analytics and strategy survey for the credit union industry.
The survey is intended to help credit unions gain a deeper understanding of industry trends regarding data and digital strategies. With responses from 85 credit unions and questions covering topics ranging from analytics budgets to strategies and timelines, the survey provides a comprehensive look at thestate of analytics across credit unions. Looking forward, the survey will be conducted and published semi-annually to help credit unions benchmark and trend industry progress.
“Credit Unions have advantages in this competitive battle waged around growing pools of data; they have more centralized systems, the ability to cooperate for scale and the members interest at heart, but they are behind the curve in data analytics and need to embrace the concepts and strategies to more effectively compete in the future,” said Kirk Kordeleski, Chief Strategy Officer & Senior Managing Partner, Best Innovation Group. “Our goal is to educate the industry, and ultimately encourage credit unions to continue thinking about, and preparing for, the future.”
“A proper data strategy is imperative for credit unions today. The traditional business model of the community financial institution is quickly evolving, and those organizations that do not adapt quickly will be left behind. Credit unions need to be thinking about and actively executing effective data strategies. We are proud to help to produce this survey, and we look forward to the progress it will catalyze across the industry,” said Paul Ablack, CEO, OnApproach.
View the complete survey results: http://info.