Press Release
CO-OP Financial Services Licenses Saylent Technologies’ Portfolio
Optimization Solution to Drive Credit Union Card Usage and Profitability
CO-OP Financial Services, the nation’s largest credit union EFT network and processor, has licensed Saylent Technologies’ portfolio optimization program to help CO-OP member credit unions identify and analyze card usage patterns.
Seamlessly integrating data from the CO-OP processing platform, the solution delivers information about cardholder usage and portfolio trends. Powerful analytics empower business-line managers with the insights and tools to drive revenue, increase share-of-wallet and strengthen the relationship with cardholders.
“CO-OP is continually looking for innovative products and services to help our members maximize profitability, which is the reason we’re so intrigued by the possibilities of leveraging data analysis for credit unions,” says Stan Hollen, President/CEO, CO-OP Financial Services. “To increase revenue, credit unions need an intimate understanding of individual member usage and the requisite tools to gather the data to meet member needs and make the most of their accounts.”
Delivered via the CO-OP Website and offered in two modules – Enhanced Reporting and Business Analytics – the program gives credit unions and CUSOs the ability to report on, analyze and increase card usage and interchange income. Credit unions can review detailed network and merchant-level reporting, estimated interchange, custom campaign management and profitability metrics.
“In an increasingly competitive marketplace, CO-OP’s member-centric approach to service and technology helps credit unions compete and succeed,” says Tyson Nargassans, President, Saylent Technologies. “We’re pleased to support CO-OP, its credit unions and the credit union movement.”
The program is built to support multiple transaction sets. Though it is initially being rolled out to support credit union debit programs, it has a multitude of applications including ATM, shared branch transactions, credit and more.
About CO-OP Financial Services
Based in Rancho Cucamonga, Calif., and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP Financial Services connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.
About Saylent
Saylent Technologies, based in Franklin, Mass., develops payment intelligence solutions that help organizations understand and capitalize on payment behaviors. Employing innovative analytics and segmentation techniques, Saylent’s Card360 solution identifies card usage patterns by cardholder, targets underperforming or at-risk segments, and enables corresponding marketing programs and metrics. Saylent’s Account360 solution provides a holistic perspective on customers across all payment types, enabling financial institutions to understand and shift customer behaviors and increase share-of-wallet. Saylent’s Insight360 consulting services help clients speed time to value with expert analysis and customized marketing services. For more information, please visit http://www.saylent.com or call (508) 570-2161.