Despite widespread recognition of their importance to an overall loan portfolio, credit cards remain far too mysterious to far too many credit unions, according to consultants that work with credit unions on credit card management.
Just when it might become more important than ever to be able to track the interchange that debit transactions generate for credit unions, many, if not most, may have not begun to uncover their debit programs’ bottom lines.
Awareness and ownership, risk vs. reward and know thy members. All this can pay off in the card portfolio, these experts say.
Consultant, TMG exec say appreciation for profit center needs to be shown in management attention.
More closely analyzing transaction data to better understand member behavior continued to make inroads with credit unions as another large credit union payment organization announced a new data analysis tool.
Card management consultants working with a payment processing CUSO and association are working to convince credit unions to look more deeply into their card members data to help the credit unions improve their card portfolio management decisions.
This in-depth look at how Big Data can help the cards portfolio is a preview from next week's print edition.
Mining member card data can help tailor programs, target opportunities, say white papers from TMG, CSCU.
Even a small card portfolio generates a large amount of data.
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