At the time of writing, there are too many credit union marketing platforms to list. If we tried really hard, we might be able to list all the different types…
But let’s start with a segment of marketing tools that help credit unions grow by delivering personalized member journeys.
This is about individualization. Right member, right product, right time. Read on to learn more!
Definitions and Disambiguation, Plus Our Hot Take
The title says we’re going to talk about CDPs and MCIFs. So, let’s talk about them.
Customer Data Platforms (CDPs) collect member data from multiple sources and update in real time. They create detailed profiles for each member, allowing credit unions to personalize (and automate) marketing efforts for them.
CDPs typically offer predictive analytics and modeling to facilitate better understanding of members. So, they use data, but they’re not data analytics platforms.
Marketing Customer Information Files (MCIFs) collect member data from select sources and update in batches. They focus on historical analysis, and they also offer basic segmentation and reporting.
MCIFs are slower, less comprehensive, and require more manual work. You can also expect less automation and personalization when using MCIFs.
As you can probably guess, CDPs are superior to MCIFs for just about everything marketing related. For that reason, our “best of” list of credit union CDPs and MCIFs includes no MCIFs.
Now, let’s see those CDPs!
Best Credit Union Customer Data Platforms!
- Vertice AI
Vertice AI is primarily a member engagement platform. It’s not just about collecting and playing with data—it’s about turning that data into opportunities to deepen member relationships.
To do so, Vertice AI uses AI to help credit unions offer members the right products, solutions, and services at the right time.
Vertice AI analyzes member data to predict their behavior and needs on an individual scale. What that looks like is member segmentation, churn prediction, targeted marketing campaigns, and more, all designed to enhance member engagement.
Basically, if you want to know your members, grow your relationship with them, and measure the results, Vertice AI is the ticket.
You can learn more about them here: https://cu-2.com/vertice-ai-credit-union-member-engagement/
Vertice AI is our top choice for a standalone CDP and data-based marketing platform.
- Trellance
Trellance dives deep into the data analytics side of things. Particularly, as it relates to CDPs, Trellance offers a predictive analytics solution geared toward anticipating member needs, such as:
- Member segmentation and retention
- Next best product and action
- Member repayment risk
- Member lifetime value
Notably, all of these predictive analytics features use AI, ensuring that they’re both incredibly accurate now and also able to scale.
Furthermore, Trellance offers a much larger, more comprehensive suite of data solutions. For that reason, Trellance is our top choice for credit unions that already use and are happy with Trellance solutions.
- Strum Platform
Strum Platform is dedicated to turning data into experiences. It offers data visualization, journey mapping, and predictive analytics.
Several credit unions have switched from traditional MCIFs to Strum Platform to improve their marketing speed and agility. The faster updates and automated components of CDPs make it a clear upgrade over older technologies.
Like Vertice AI and Trellance, Strum Platform is made specifically for credit unions and financial institutions. It’s not fully real-time, but next-day data means it’s still almost immediately actionable.
If you like PowerBI and want to do away with hundreds of hours of manual spreadsheet reports about daily ROI, Strum Platform might be worth a look.
- Segment
Segment is a Twilio, Inc. company, so you know they’re backed up by serious marketing and communications tech. Segment is a CDP that works for credit unions in addition to other financial institutions and retailers.
Segment collects, cleans, and governs credit union data, then uses it to create detailed member profiles. From there, Segment enables credit unions to create personalized marketing journeys and improve member engagement.
Per our understanding, Segment is partnered with Alkami, making it a clear first choice for Alkami clients.
Which Customer Data Platform Is Right for Your Credit Union?
Our current favorite of the listed options is Vertice AI, based on what we understand about their platform and their focus on credit unions (and their responsiveness to credit union needs).
Like Trellance, Vertice AI leverages AI to ensure maximum accuracy, speed, and scalability. Gaining insights and offering personalization is a low risk, high reward way for credit unions to use AI.
If you want to see more about Vertice AI and why they’re our top choice, click here:
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