CO-OP Financial Services Takes CO-OP Revelation to a New Level with Usage Analytics Plus; Credit Unions Using the Debit Program Receive Free Access in May and June
Credit Unions find CO-OP Revelation Retains Members, Increases Wallet-Share and Drives Revenue Growth
RANCHO CUCAMONGA, Calif. (May 11, 2009)—CO-OP Financial Services is launching the latest addition to its portfolio optimization product, Usage Analytics Plus – an advanced market-segmenting module of CO-OP Revelation that grows member profitability. This ”web-based tool allows credit unions to analyze cardholder transaction data and find usage patterns helping them better understand their members’ habits, improve marketing effectiveness and increase both member loyalty and revenue.
“In today’s highly competitive environment, credit unions need tools that help them quickly see how members use their debit cards,” said Stan Hollen, president/CEO of CO-OP Financial Services. “With Revelation’s new module, credit unions can offer incentives and initiatives that best serve members and, as a result, deepen relationships.”
Hollen said before CO-OP Revelation, credit unions had no way to easily gain critical insight into cardholders’ behaviors. “Now, the depth of information captured with this easy-to-use, on-demand service helps them create effective programs and increase wallet-share for their cards.”
Offered free in May and June to full debit-processing clients, Usage Analytics Plus allows credit unions to view, manage, and evaluate cardholder usage behavior using a variety of criteria like merchant type, network and transaction type – all in an easy-to-read, user-friendly format. CO-OP is adding the product to Revelation’s first module, developed by Saylent Technologies, a payment intelligence software provider that created the Card360TM card portfolio optimization solution used in the CO-OP Revelation platform.
The new Revelation module, Usage Analytics Plus, further leverages the breadth of member data by laying cardholder demographics over transaction data. Now, credit unions can analyze usage patterns based on this information combined with specific parameters, such as identifying heavy PIN users at certain merchants or determining recent cards issued that haven’t been activated.
Clients using the new module find it beneficial to have data combined, particularly for analyzing potential fraud impacts. According to Marilynn Davis, director, ATM and Card Services at Ent Federal Credit Union in Colorado Springs, Usage Analytics Plus is making it easier to get the information she needs.
“Revelation is the first tool to give me detailed, cross-referenced information,” said Davis. “Also, before the Usage Analytics Plus component, generating reports took too much time.” Davis says reports now take only about 30 minutes – and she expects to reduce that time as she becomes more familiar with the solution.
The partnership with CO-OP is well-timed to benefit credit unions, says Tyson Nargassans, president of Saylent Technologies. “We are thrilled to play a key role in helping CO-OP continue to provide the best solutions and services to help credit unions succeed, particularly in this difficult economy,” he said.
CO-OP clients may sign up for CO-OP Revelation by calling their Relationship Manager and also may visit www.co-opfs.org/revelation.
About CO-OP Financial Services
Established in 1981 and located in Rancho Cucamonga, Calif., CO-OP Financial Services is the nation’s largest credit union service organization with the largest credit union consumer brand, CO-OP Network. Wholly owned by its credit union shareholders, CO-OP provides volume discounts on payments products and services that include ATM Network access, Debit Processing, ATM Processing, Shared Branching, Check Imaging and Mobile Payments. With nearly 3,000 credit union members, 28,000 surcharge-free ATMs (including 9,000 deposit-taking), 3,500 shared branch locations, 155 million-plus monthly transactions and 26 million cardholders, CO-OP Financial Services is the No. 1 credit union EFT network and processor in the U.S. financial services industry. CO-OP Financial Services’ membership has access to 800,000 ATMs worldwide through links to NYCE, STAR, Cirrus, Pulse and Plus.
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Contact
Margaret Blankers, for CO-OP Financial Services MJB
Public Relations Group, LLC
(866) 714-7041
margaret@mjblankerspr.com