Two more credit unions have chosen CU Rise Analytics LLC. as their data analytics partner. San Mateo Credit Union (SMCU), a $1 billion California credit union, engaged CU Rise after implementing a new core system. CU Rise is revamping their dashboards to accommodate the new system, optimizing and creating new dashboards to better extract key business intelligence insights, and fixing performance issues. Another $985 million California credit union, Los Angeles Police Federal Credit Union (LAPFCU) is utilizing CU Rise services to build a data to decision chain, which includes strategic planning of their data needs right from data discovery and aggregation, henceforth implementing data analytics and business intelligence solutions over it.
“We’re demonstrating to more credit unions that highly sophisticated, highly effective technology can be simple to use and deploy,” said CU Rise CEO Karan Bhalla. “This is really important for credit unions facing the adoption and integration of many technologies to succeed in the era of digitization.”
SMCU President and CEO Wade Painter said that through CU Rise’s business intelligence dashboards, the credit union is be able to access new levels of timely and relevant decision-making information. “We can instantly get a read on our most important performance indicators, and then drill deeply into the information to really understand trends,” he said.
Data science-powered dashboards use machine learning algorithms to extract accurate insights from vast amounts of data. CU Rise develops its custom interactive dashboards to ensure credit unions can make better strategic decisions with a true window into patterns and trends.
For LAPFCU, using BI tools like Tableau and Power BI, CU Rise has built a credit card analyzer that extracts, aggregates, and synthesizes credit card data from the credit union’s credit card payment processor. It uses a highly effective methodology to extract data insights across a multitude of factors that including activity segmentation, performance, risk, behaviors, and responsiveness – among many others. This allows LAPFCU to track the results of strategic initiatives and assess the performance and risk of its portfolio efficiently and cost-effectively.
Gino Cayanan, CFO at LAPFCU said “CU Rise has been a great analytical partner and the business impact of the work they are doing is far reaching. Apart from helping us with credit card portfolio management, they will help us assess the dollars leaving the credit union through ACH data analysis and devise strategies to bring them back and retain within.”