Coming soon to CU*BASE is a new feature to assist credit unions with predictive retailing. Once configured, this engine will evaluate a member’s relationship and status with the credit union, and then match a member to products and services to sell at the teller line and beyond, based on criteria selected by credit unions.
Using this new tool, dubbed Nostradamus after the famed seer, credit union staff can create profiles based on multiple sub-sections of criteria to determine what types of members are being served. There are over 70 attributes that users can select to tailor a profile, scoring on both presence and absence of activities, behaviors, traits, and ownerships. Users then run an account base through the engine to determine what profiles match the member. Credit unions can configure products and services to sell members that meet the specific profiles, such as offering a loan to the self-service member, or a special checking account for high dollar depositors.
This tool is a special Active Beta to run Nostradamus through the paces. CU*Answers Technical Writer Stacy Brower states, “The goal of this tool is to evaluate whether the engine can actually produce a result that you agree with based on your own intuitive evaluation of that same member. Before any predictive process can truly be integrated into any retailing process, we must first agree that a machine can evaluate the member and come up with comparable results.”
This toolset was developed as a result of the 2019-2020 DHD Boot Camp and will arrive in the CU*BASE 21.10 fall release, which will be implemented on October 3, 2021 for online and Site-Four credit unions.