Randolph-Brooks Federal Credit Union (RBFCU) will enhance its marketing capabilities and strategy with technology from Raddon®, a Fiserv company and provider of innovative research, insightful analysis and strategic guidance to financial institutions.
RBFCU will utilize the new Predictive Analytics solution from Raddon, which allows financial institutions to build deeper relationships with members and customers through targeting and segmentation tailored to their activities and needs. RBFCU will use Predictive Analytics to further its digital presence and marketing efforts by communicating relevant offers to its members.
“We’ve had a fruitful relationship with Raddon for years, and Predictive Analytics will allow us to leverage the insights and information Raddon provides for the benefit of our members,” said Mary O’Rourke, EVP and chief of staff at RBFCU. “We do right by our members when we find ways to improve their financial lives. Predictive Analytics will allow us to match offers to individuals in a more considerate, meaningful way.”
Predictive Analytics organizes, tags and contextualizes financial institution data, utilizing a combination of transactional, lifestyle and behavioral data to deliver personalized experiences across both digital and physical channels.
Data is anonymized, and individuals are identified based on Key Lifestyle Indicators® (KLI) that reflect their banking and spending behavior. Predictive Analytics then allows the institution to respond to individuals’ habits and behavior, moving them in and out of campaigns.
“RBFCU is a multi-year Crystal Performance Award winner based on their performance as compared to their peers, and a leader in the credit union industry,” said Edward Wipson, general manager, Raddon. “As institutions like RBFCU embrace the potential of predictive marketing technology it will raise the bar for marketing best practices in the financial services industry.”
Predictive Analytics from Raddon is available now and can integrate into any core banking system. It can be viewed live in February at CUNA GAC in Washington, D.C.