Vantedge and Onapproach partner to accelerate credit union data activation
Vantedge Real-Time Predictive Marketing (RPM) leverages data from the OnApproach M360 data platform to help credit unions unlock the power of their own data to deliver highly personalized experiences in real-time across all channels
ATLANTA, GEORGIA (September 20, 2017) — Vantedge, a leading insights, analytics and marketing strategy company, today announced a strategic alliance with OnApproach under which the Vantedge Real-Time Predictive Marketing (RPM) service will leverage data from OnApproach’s M360 data platform. The partnership is aimed at helping credit unions activate first-party data in a way that significantly increases new product openings, member acquisition and member engagement.
Vantedge RPM is an end-to-end data-driven marketing managed service tailored for credit unions that combines real-time predictive analytics, campaign management, personalized multi-channel message delivery and ROI measurement with CU advisory services. The RPM service leverages transactional, lifestyle and other behavioral data as well as predictive modeling powered by Key Lifestyle Indicators (KLIs) so credit unions can truly understand and even anticipate the needs of individual members, serving them highly relevant and personalized experiences at precisely the moment they’re considering a purchase.
When a KLI match occurs, RPM delivers messages in real time to members across mobile, public and private web sites, millions of web sites on the open internet as well as assisted channels such as the contact center, branch, ATMs, direct mail and email systems while adhering to strict privacy and security standards.
OnApproach M360 Enterprise is a collaborative, multi-sided, Analytic Data Model solution that enables credit unions to integrate all of their data into a single source of truth. OnApproach M360 is an industry standard data model that is core and ancillary banking system agnostic.
Once Vantedge RPM leverages data from the M360 model, credit unions of all sizes will be able to more quickly unlock the full power of their own data as well as appended third party data, tap into the rich insights of their members and launch highly targeted “always on” campaigns targeting individuals in real time across all channels. This solves a real need for CUs.
“Our focus is on solving that very difficult data analytics ‘last mile’ for credit unions, helping them instantly bring to life the rich data that sits trapped within siloed systems,” said Mark Moore, general manager of Vantedge’s Real-Time Predictive Marketing (RPM) business. “By partnering with OnApproach, we will be able to empower credit unions to truly take control of their own data, delivering a relevant, personalized experience to every individual member in real time at every touch point.”
“With data analytics moving to the forefront in terms of credit union strategic imperatives, we are looking for ways to accelerate data activation,” said OnApproach CEO Paul Ablack. “The combination of the powerful OnApproach M360 data platform with Vantedge’s innovative data-driven marketing service will ultimately make rich member data more accessible, helping CUs truly understand and even anticipate the needs of individual members, improving their financial lives.”
Some of the key benefits to credit unions resulting from this strategic alliance include:
- Significantly accelerate the time it takes to onboard an existing OnApproach client into the Vantedge RPM service
- More rapidly produce “data reveals” highlighting KLI targeted opportunities using 3 months of anonymized data
- Deliver Vantedge RPM services through the OnApproach CU App Store environment
KLIs are meta data tags assigned to each individual member derived from a credit union’s first party data (credit, debit, bill pay, ACH transactions and data from core, online banking, CRM and other systems) as well as third party appended data. The Vantedge RPM service leverages only anonymous data, never accepting any Personally Identifiable Information. As a result, the RPM service is FFIEC and GLBA compliant.
KLIs serve as the triggers to deliver real time, personalized experiences to individual members wherever they are and whenever a KLI match occurs, dynamically adapting as a person’s transactional behavior, lifestyle and overall financial life changes.
A critical component of Vantedge RPM is the ability to measure ROI in real time, including new product openings, member engagement, face value and economic value as well as overall marketing efficiency across all channels. Vantedge runs the RPM service on behalf of the credit union, assigning a senior client advisor who provides KLI targeting strategy as well as set up, management and execution of the KLI-targeted campaigns and ROI measurement and performance.
About Vantedge
Vantedge is a leading insights, analytics and marketing performance company focused on helping clients build smarter businesses that produce increased revenues, competitive leadership, high-value customer relationships and greater marketing effectiveness. Vantedge leverages a turn-key, service-based delivery model, coupled with a portfolio of diagnostic tools and strategic business expertise, to provide superior capabilities while minimizing delivery times and client resource requirements. Vantedge is a wholly-owned subsidiary of Cooper Holdings, Inc. and works with clients across industries such as PGi, McKesson, Fiserv, QSpex, Verint, Blackbaud, Delta Community Credit Union, PogoTec, and Standard Register.
About OnApproach
OnApproach is a CUSO that focuses on providing credit unions with the power to use data as a competitive advantage both independently and cooperatively. With OnApproach, credit unions can now harness the value of Big Data/Analytics through integration, advanced reporting, and predictive analytics. This deeper understanding of data allows credit unions to discover vital trends in member behavior, resulting in improved financial performance, reduced risk, and enriched relationships with members
