MADISON, Wis. – CUNA Mutual AdvantEdge Analytics (Opens in new window) today launched its next-generation data management solution that integrates with non-traditional data sources to help credit unions strengthen data access, analysis and insights.
Among the first for the industry, AdvantEdge Analytics’ data management solution incorporates a hybrid data warehouse with a new data lake, enabling credit unions to combine and mine data insights from both traditional structured as well as non-structured data sources like social media, personas, segmentations and voice-to-text. This combination allows credit unions to build a more comprehensive, integrated 360-degree view of their members, channels, and products.
“An enormous amount of data is available from non-traditional sources that should be part of a credit union’s data strategy - it is critical for credit unions to integrate this data to improve member insights. Not only will they know more about their members, but they can deliver better value and create new opportunities for their business,” said Tim Peterson, president, AdvantEdge Analytics. “Our newest solution will accelerate the credit union’s ability to be better positioned to meet members’ needs today and in the future.”
According to an AdvantEdge Analytics survey of more than 400 credit union executives, almost 73 percent of credit unions indicate most of their member data is not easily accessible, and approximately 28 percent believe fragmented data is the biggest barrier to successful analytics execution.1
Through this new offering, AdvantEdge Analytics will provide faster retrieval of multi-dimensional data and improved reporting capabilities. It also offers industry-specific Application Programming Interfaces (APIs) to help credit unions connect faster to data in both core and ancillary systems, such as mortgage or consumer loan origination systems (LOS). With this improved system for data access and flow, credit unions greatly expand their reporting and advanced analytic capabilities.
“AdvantEdge Analytics has one of the most robust and flexible technology platforms in the market compared to other providers we explored. We sought a solution that will allow RBFCU to look toward the future and expand our capabilities faster and more efficiently. AdvantEdge Analytics offers that and more,” said Randy Carswell, senior vice president of finance, Randolph-Brooks Federal Credit Union.
AdvantEdge Analytics provides an industry-leading integrated suite of software, analytics and business intelligence tools. As part of CUNA Mutual Group’s multi-year investment in innovation and data analytics, the company is focused on significantly expanding the scale of data to help credit unions gain stronger member intelligence, accelerate analytics adoption and strengthen market share.
For more information, please visit www.advantedgeanalytics.com (Opens in new window).
About CUNA Mutual AdvantEdge Analytics, LLC:
CUNA Mutual AdvantEdge Analytics, LLC (AdvantEdge Analytics) provides comprehensive technology and data analytics services for credit unions. AdvantEdge Analytics brings together data management, visualizations and advanced modeling into an end-to-end offering. Built on more than 80 years of commitment and experience working with credit unions and their members, AdvantEdge Analytics collaborates with credit unions to effectively harness the power of data in new and insightful ways. Additional information about AdvantEdge Analytics can be found at www.advantedgeanalytics.com.
About CUNA Mutual Group:
CUNA Mutual Group is a financially strong insurance and investment company. For generations, we’ve partnered with credit union leaders to protect and grow their businesses, and help people plan, protect and invest for their future. CUNA Mutual Group offers commercial and personal insurance products; lending and payment security solutions; and retirement, investment and marketing services. Additional information about the company can be found at www.cunamutual.com.
1 CUNA Mutual Group “Credit Union Data Analytics Diagnostic Strategy and Capabilities Benchmark.” January 2017. P. 5, 8. CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Life, accident, health and annuity insurance products are issued by CMFG Life Insurance Company and MEMBERS Life Insurance Company. Corporate headquarters are located in Madison, Wis.