Three challenges and three solutions: Data management for credit unions

In today’s data-driven world, credit unions understand the value of insights that can be gained from member data. Yet, for many, there’s uncertainty on how to make that happen, along with the usual technology growing pains. Creating a data platform is a great first step, and segmentation and predicting member needs is even better.

But how do you unlock the full potential of data? How do you open it up to the organization — so your managers can readily access it and your marketing team can act on it? You’ll need to overcome three primary challenges credit unions face today.

Challenge One – Organization: The Devil is in the Details

If your business users lack the information they need, it’s likely due to fragmentation, a lagging IT infrastructure, or the big expense of getting and storing big data. The complexities of running multiple systems – mortgage LOS, consumer LOS, core, others – often result in a wide variety of disjointed perspectives… not that helpful.

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