2024 CULytics Summit

2024 CULytics Summit

March 25-28, 2024

2024 CULytics Summit

Microsoft Commons, Redmond, WA

Aunalytics to attend the 2024 CULytics Summit in Redmond, WA as a Gold Sponsor

Aunalytics is thrilled to attend the 2024 CULytics Summit at Microsoft Commons in Redmond, WA. Representatives from Aunalytics will be available at our exhibition booth to demonstrate our customer intelligence solution which enables credit unions to use AI to increase deposits and more effectively identify and deliver new services and solutions—allowing them to compete with large national banks. Aunalytics is also proud to sponsor the session, “Powerful anecdotes to shape your engagement strategy” featuring Benjamin Smith, VP of Business Intelligence at Communication Federal Credit Union on Wednesday, Mar 27th from 11:10 AM – 11:30 AM (PST).

2024 CULytics Summit

2024 MBA BEST Conference

2024 MBA BEST Conference

March 20-22, 2024

MBA BEST Conference 2024

Michigan Bankers Association

Grand Traverse Resort & Spa, Acme, MI

Aunalytics to exhibit at the 2024 MBA BEST Conference as a Silver Sponsor

Aunalytics is proud to be a Silver Sponsor of the 2024 MBA BEST Conference, presented by the Michigan Bankers Association in Traverse City, MI. Representatives from Aunalytics will be demonstrating how our customer intelligence solution enables banks to increase deposits and more effectively identify and deliver new services and solutions for their customers so they can better compete with large national banks.

2024 MBA BEST Conference

2024 ICBA LIVE

ICBA Live 2024

March 14-17, 2024

ICBA Live 2024

Independent Community Bankers of America

Orlando World Center Marriott, Orlando, FL

Aunalytics to exhibit at ICBA LIVE, presented by Independent Community Bankers of America

Aunalytics is excited to attend ICBA LIVE 2024, powered by the Independent Community Bankers of America. Representatives from Aunalytics will be exhibiting at booth #241 and talking to attendees about our how our customer intelligence solution enables banks to increase deposits and more effectively identify and deliver new services and solutions for their customers so they can better compete with large national banks.

2024 ICBA LIVE

Fintech Meetup 2024

March 3-6, 2024

Fintech Meetup 2024

The Venetian, Las Vegas, NV

Aunalytics to attend the 2024 Fintech Meetup in Las Vegas

Aunalytics is excited to attend the 2024 Fintech Meetup in Las Vegas, Nevada. Aunalytics will be meeting with attendees and giving demos at booth SC1 on how financial institutions can use AI-driven insights to improve customer and member engagement and increase wallet share. Event attendees can learn more about the Daybreak™ for Financial Services solution which enables community banks and credit unions to more effectively identify and deliver new services and solutions so they can better compete with large national banks.


Launch 2023: The Carolinas Credit Union League

LAUNCH 2024 - The Carolinas Credit Union League

February 7-8, 2024

LAUNCH 2024

The Carolinas Credit Union League

Embassy Suites by Hilton Charlotte Concord, Concord, NC

Aunalytics to present and exhibit as an Ignition Sponsor at LAUNCH 2024, powered by the Carolinas Credit Union League

Aunalytics is excited to attend LAUNCH 2024, powered by the Carolinas Credit Union League as an Ignition Sponsor. Brad Thien of Aunalytics will be speaking on how credit unions can use AI-driven insights to improve member engagement and increase wallet share. Event attendees can learn more about the Daybreak™ for Financial Services solution at the Aunalytics exhibit booth—Daybreak enables credit unions to more effectively identify and deliver new services and solutions for their members so they can better compete with large national banks.

Launch 2023: The Carolinas Credit Union League

Becoming More Customer-Centric

Becoming More Customer-Centric—How Community Banks and Credit Unions Can Cultivate This Mindset and Act on It

Personal, white glove service has always been a competitive advantage for community banks and credit unions. Therefore, a customer-centric mindset is vital. While a customer may be just another number at a large, national bank, community-based financial organizations can get to know people on a more personal level—and they may in turn feel a larger sense of connection and loyalty to a bank or credit union that has a history within the community.

But, as banking moves to be more digitally-focused, a familiar, friendly face at the bank counter is not enough, especially as younger generations embrace the convenience of online and mobile banking. Customer touch points are increasingly digital—which isn’t necessarily a bad thing. Financial institutions now have a wealth of data about each individual. Large, national banks are already using this to their advantage.

Many large financial institutions have invested billions in technology, including data and AI-based solutions that allow them to fully embrace customer centricity in their business practice. This allows them to foster relationships based heavily on digital interactions.

But without ample resources that can be focused on developing data-backed solutions, how can a smaller, community-based institution compete?

Adopting a Customer-First Mindset

While a focus on the customer or member is the bread and butter of most community banks and credit unions, there is always room for improvement. While customer centricity is a sought after ideal, only about 9% of organizations have achieved this goal. This can make it a competitive differentiator for organizations who manage to fully embrace this mindset. To become a truly customer-centric organization, it’s not enough to provide a high level of customer service. It requires customer centricity to be embedded in the organization’s DNA and across all functional areas of the financial institution.

A customer’s interaction with an organization goes beyond the tellers at the branch, or a mobile app’s user interface (though these are each vitally important elements!) There are some questions to consider when evaluating whether an organization is truly putting the customer first:

360 View of a Customer

  • Are your products and services what your customers really want and need?
  • Are recommendations and advice being tailored to each unique individual?
  • Are customers experiencing seamless interactions across all touchpoints?
  • Are you using direct feedback and data to inform decision-making?
  • Are you able to provide customers with “unexpected value,” beyond what they would normally expect from their financial institution?

In order to reach these lofty goals, organizations must first get buy-in across the organization and actively work to shift goals and mindsets.

Embracing The Power of Data and AI

Once a bank or credit union has determined that it is on its way to cultivating a customer-centric mindset, it is time to start taking action. One of the most powerful ways to become more customer-centric is to rely on insights from data. But the first step is to organize data into a 360-degree view of each customer—breaking down data silos in order to capture the entire customer journey.

Once data has been aggregated, cleansed, and organized around each customer, it can be used to make data-driven decisions, personalize the customer journey, and increase the effectiveness of marketing campaigns, and optimize operations. With the power of AI and predictive analytics, organizations can:

  • Enhance digital interactions with chatbots;
  • Enact offer relevant product suggestions;
  • Determine which customers or members are most likely to churn;
  • Identify potential new customers who look the most like their current best customers;
  • Optimize loyalty programs to increase customer satisfaction; and more.

Where To Start?

If all of this sounds like a lofty goal, that is because it is. This undertaking can be a huge challenge for most midsized banks and credit unions. In many cases, it could take several months—or even years—to get to this point. That is why many organizations are looking outside their own walls to work with experienced partners to guide them through the process along with pre-built technology solutions that can reduce the time to implementation.

To meet the unique challenges of community banks and credit unions, Aunalytics has developed the Daybreak Analytics Database—an end-to-end data and analytics platform using AI and machine learning to enrich a bank or credit union’s existing data and create a customer-centric view. This ultimately allows midsized financial institutions to more effectively identify and deliver new services and solutions so they can increase wallet share and better compete with large financial institutions.


Investment in Artificial Intelligence is Vital for Banks and Credit Unions

Investment in Artificial Intelligence is Vital for Banks and Credit Unions

Has your bank or credit union made investments in artificial intelligence yet?

Advances in artificial intelligence (AI), and the promise it holds for the future, have been making news all year. And it’s no wonder that financial institutions are taking notice—a recent survey from the Economist Intelligence Unit found that 77% of bankers believe that unlocking value from AI will be the differentiator between winning and losing banks. Yet, many institutions are falling behind in AI maturity.

Despite its promise, making a large investment in artificial intelligence may seem risky to many midsized financial institutions. Hiring talent, developing a data management and analytics strategy, building a data platform, and creating AI models can be both time- and resource-intensive. Banks and credit unions want to ensure that the efforts spent to get an AI program off the ground will yield a high ROI, especially in times of economic uncertainty. Yet, failure to innovate and make progress toward digital transformation is not always an option in the highly competitive landscape.

Investment in Artificial Intelligence
Financial institutions find many uses for AI technologies

Thankfully, an investment in artificial intelligence can improve many processes across an institution. AI can optimize both time- and resource-intensive tasks, decrease risk, and increase revenue by improving the customer experience. For instance, by applying AI and machine learning algorithms to transactional data, banks and credit unions can gain insights into customers or members’ habits and preferences. Some use cases include:

  • Detecting and preventing fraud
  • Identifying loan default risk at the time of application
  • Predicting customer churn
  • Winning back business by discovering customer payments going to competitors, and subsequently making a more attractive offer
  • Predicting the next best product for each customer then targeting them with the right product at the right time
  • Calculating customer value scores in order to better allocate resources to target more valuable customers

Don’t get left behind

Large banks are already utilizing artificial intelligence use cases at scale. In a recent letter to shareholders, Jamie Dimon, Chief Executive Officer of JPMorgan Chase wrote, “Artificial intelligence (AI) is an extraordinary and groundbreaking technology. AI and the raw material that feeds it, data, will be critical to our company’s future success—the importance of implementing new technologies simply cannot be overstated.”

Because of this focus, his company has made tremendous investments in AI. They currently have over 300 AI use cases in production, and employ almost 3,000 people in data management, data science, and AI-research-related roles. This underscores how vital these new technologies are to success in the future.

Unfortunately, not every institution has access to talent and technology at the scale of JPMorgan Chase. That’s why Aunaytics has developed a cloud-based data and analytics platform to provide data management, advanced reporting, and predictive AI and machine learning solutions for midsized community banks and credit unions.

Daybreak for Financial Services allows institutions to learn more about their customers and members in order to provide a better overall experience—which in turn reduces risk, increases wallet share, and reduces expenses.


The Truth About AI

The Truth About Artificial Intelligence in Business

Is the existence of Skynet imminent or is that simply a sci-fi trope? In this brief video, Dr. David Cieslak, Chief Data Scientist at Aunalytics, talks about the capabilities of Artificial Intelligence in business, some potential concerns with AI, and where the technology is headed in the future.

While there exists a broad range of applications for AI, in the business world, this technology has the potential to drastically change how we understand our customers and how we use our data to interact with them. Once created and trained with customer data, AI has the ability to quickly provide suggestions and insights that would otherwise be prohibitively difficult or even impossible to observe on your own.

For example, Aunalytics’ Daybreak for Financial Institutions platform uses a proprietary AI model that can predict when a customer or member is likely to churn, to suggest which product to promote based on what that specific person is most likely to buy, to identify where the best branch locations are, and more. These types of insights are hiding in your data, simply waiting to be uncovered. To learn more about the business applications of AI, you can view the extended interview here.

David Cieslak, PhD, is the Chief Data Scientist at Aunalytics since its inception and leads its Innovation Lab in the development and delivery of complex algorithms designed to solve business problems in the manufacturing/supply chain, financial, healthcare, and media sectors. Prior to Aunalytics, Cieslak was on staff at the University of Notre Dame as part of the research faculty where he contributed on high value grants with both the federal government and Fortune 500 companies. He has published numerous articles in highly regarded journals, conferences, and workshops on the topics of Machine Learning, Data Mining, Knowledge Discovery, Artificial Intelligence, and Grid Computing.


A Data Scientist's Thoughts on Artificial Intelligence, Business, and the Future

A Data Scientist's Thoughts on Artificial Intelligence, Business, and the Future

Interview

A Data Scientist's Thoughts on Artificial Intelligence, Business, and the Future

In this interview, David Cieslak, PhD, the Chief Data Scientist at Aunalytics, describes complex analytics concepts such as artificial intelligence, machine learning, and deep learning, and explains how they are useful for businesses today—and will continue to be in the future. David has been with Aunalytics since its inception and leads its Innovation Lab in the development and delivery of complex algorithms designed to solve business problems in the manufacturing/supply chain, financial, healthcare, and media sectors.

David Cieslak talks about AI and business
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A Data Scientist's Thoughts on Artificial Intelligence, Business, and the Future

A Data Scientist's Thoughts on Artificial Intelligence, Business, and the Future

Interview

A Data Scientist's Thoughts on Artificial Intelligence, Business, and the Future

In this interview, David Cieslak, PhD, the Chief Data Scientist at Aunalytics, describes complex analytics concepts such as artificial intelligence, machine learning, and deep learning, and explains how they are useful for businesses today—and will continue to be in the future. David has been with Aunalytics since its inception and leads its Innovation Lab in the development and delivery of complex algorithms designed to solve business problems in the manufacturing/supply chain, financial, healthcare, and media sectors.