With member expectations higher than ever, your payments data can help provide a competitive edge by delivering exceptional member experiences. By embracing strategic initiatives that prioritize relationships and leverage valuable insights to help strengthen member connections, credit unions can create moments that keep members coming back for more.

There is a fine line between using data to be intuitive and relevant or coming across as invasive and alarming. We know a lot about how our members use their cards and it’s up to us to use that data with the objective to surprise and delight.

As an example, let’s say cardholder data reveals that a member buys gas every Thursday at the same location. Using that transaction data, the credit union could send the member a push notification for a $5 gas coupon the next time they’re at the pump. The member might be surprised to receive that relevant and smart offer and would likely be delighted.  

The flip side is that using data without the objective of providing a personal, relevant experience can leave members feeling a little overexposed. That includes relentless social media ads and emails based on data created when smartphones and virtual assistants listen in on everyday conversations.

Make surprise and delight your mantra by using the data in new and innovative ways to provide relevant offers and added value to the member experience. Consider what you can track, from transaction patterns to total spending and more. 

Credit unions should make decisions and prioritize initiatives that help them grow based on data analytics and industry insights. To do that, aim to surprise and delight whenever and wherever possible.