PSCU Rolls Out New Data Mining Tool
PSCU has released a new data tool that, according to the CUSO, gives member credit unions an unprecedented ability to access and use member payment information.
The St. Petersburg, Fla.-based PSCU announced the new tool, called DataVue, at its April 2015 member forum. A CUSO executive reported 42 member credit unions have begun to use the tool as part of its card portfolio management and marketing programs.
DataVue is the latest tool in the CUSO’s Member Insight suite of card management and information tools, the CUSO said. The CUSO served 17.5 million accounts at member credit unions in 2014, according to its annual report for that year.
“We built this tool with the goal of flexibility and ease of use in mind,” PSCU Vice President of Enterprise Analytics Suzanne LaProva explained, adding that the CUSO chose to make the tool cloud-based so credit unions wouldn’t be required to download data. In addition, in contrast to its previous data management programs, the new tool makes it easier to obtain data on cardholders, their accounts and their transactions.
For example, LaProva explained that with the new tool, a credit union would be able to approach a business in the community with the news that its members had spent a given amount of money at the business in the previous month or weeks. Then, the credit union could suggest a promotion to the credit union’s members or a joint marketing effort, she said.
PSCU has already been able to help credit unions find out where their members used their cards, LaProva explained, but now they can easily find that out on their own in addition to how much they are spending in a given period, she added.