3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Robert McGarvey A blogger and speaker, Robert McGarvey is a longtime journalist who has covered credit unions extensively, notably for Credit Union Times as well as the New York Times and TheStreet, … Web: www.mcgarvey.net Details The stampede is on. Suddenly credit unions across the nation have become convinced that big data is the path to prosperity. The good news: that’s half right.The bad news of course is that it also is half wrong. But there are ways to get this entirely right.First, however, understand that big data really is all its proponents say it is. The plainest examples are how Netflix and Amazon know – really know – what to recommend to you if you are a frequent customer. Most credit unions are far from that standard. “It’s poorly understood among credit unions,” said Paul Ablack, CEO of OnApproach, a data analytics company focused on credit unions.In a survey of hundreds of financial institutions, MX, a data focused fintech serving some 1800 credit unions and banks, asked them if they believed they were making efficient use of their data. 92% said no, according to MX CMO Don MacDonald. He added that many credit unions, when asked why they found themselves in that predicament, responded that they did not know how to get started.Keith Brannan, CMO at Kasasa, a financial services company that serves credit unions and community banks, said “The biggest issue – and the reason most credit unions don’t do big data – is a lack of data. Most of the tools require mountains of data,” said Brannan.Ablack agreed – in his mind, maybe one credit union has enough internal data to run meaningful big data projects. The others don’t have the bulk.This is not good. Big banks are awash in data and they are becoming experts at using it. “This is becoming a story of the haves and have-nots,” said Brannan, where the haves truly understand their consumers and prospects. And the others are left to guess.Guesses often miss the mark and that’s a prime reason why so many credit union marketing initiatives fail to hit the bullseye.But now there are emerging paths that get credit unions into big data in ways that work.For instance: there’s a growing number of big data-based fraud prediction services that, drawing on knowledge of fraudsters, sell their service on a subscription basis to credit unions.Case in point: PointPredictive which has amassed 57 million auto loan credit applications, drawn from both lenders and car dealers. According to Frank McKenna, chief strategist, PointPredictive uses its data to hunt for fraud in auto loan applications and, he said, they find a lot. Every application submitted into the system is scored and it’s the choice of an individual lender to fund or decline a loan – but with that data, their decision is fact-based.Know that there are plenty of other fraud prediction services – it’s becoming a hot area for big data services aimed at small and mid-sized financial institutions. Look around and compare. But understand that subscribing to a service helps level the playing field for credit unions as they combat increasingly sophisticated criminals.Can’t a credit union go all in with big data and begin applying it to a range of activities, from account opening to knowing what offers to extend to which members, when?Doing that requires a lot of data and, said Ablack, for starters look way beyond payments data and core system data. He itemized some of the data sources he tells his credit union clients to gather up when they start a big data campaign:* Payments* Every transaction a credit union does* Loans* Checks* Debit card activity* Credit scoring info* Call log info* Online banking info (with attribution – where were they when they logged in?)* Who is the car insurer? When is the policy up for renewal?* Building permits* Vehicle infoThat sounds like a lot of data? Get this: you need more. That’s been the hold up for meaningful big data projects at most credit unions but there now are initiatives intended to solve the problem of not enough data.How? Ablack’s perspective is that for credit unions to really get the benefit of big data they need to pool their data, in what experts call a shared data lake. Get 100 credit unions putting data in a data lake and, suddenly, there’s scale that helps a credit union begin to mine data to guide better marketing and decision making.Ablack believes that credit unions are uniquely positioned to understand the value of data sharing. He pointed to the industry’s ATM sharing – such as offered by Culiance – as a reason for confidence that credit unions will hop aboard data sharing. “Credit unions got together, they collaborated, and they created a great network,” said Ablack.Similar can happen with big data, he said.Are there issues that need resolving? Definitely. Everything from ownership of the data to anonymity of member data to what happens when a credit union decides to withdraw will need to be sorted out. Multiple companies now are in the early stages of creating credit union shared data lakes. Again, shop carefully. But – very probably – data lakes will become mainstream, as a smart way to give smaller financial institutions parity with the megabanks.When will this become mainstream among credit unions? Ablack’s belief is that in 2019 big data will really take off. And if that’s so, credit unions will have a bright future because – very probably – the future will be brightest for the institutions that have the most mastery of data. And that future now is within reach.
The three men were sitting on top of their overturned boat, and were pulled to safety individually.According to deputies, the boat capsized as a result of the high winds and 4-to-5-foot sea conditions.All three of the men were wearing life jackets and did not report any injuries.Officials are advising boaters to have the proper safety equipment on board before going into the water, and to be aware of weather conditions and other potential hazards. Deputies rescued three men off the coast of South Florida earlier this week, after their fishing boat capsized.Broward Sheriff’s Office spokeswoman Miranda Grossman says marine and aviation patrol deputies received a distress call on Tuesday night about a mile off Pompano Beach.When deputies arrived, they spotted the men flashing a light toward the shore.Marine patrol units navigated through the rough waters and located the stranded boaters with help from deputies searching in the air.BSO deputies rescued three stranded people Tuesday night after their fishing boat capsized in the open water near Pompano Beach. The coordinated efforts between BSO units allowed Marine Patrol to identify exactly where the stranded boaters were located -> https://t.co/Ezi6uR0TDl pic.twitter.com/rA6Vry3noM— Broward Sheriff (@browardsheriff) April 30, 2020 read more
Former four-time national champion and Arjuna awardee, Subramaniam Raman, who will be the Mentor of Table Tennis Centre of Excellence, lauded the efforts of Gaudium Sportopia as an integrated facility and added that it is an ideal facility to produce many Olympic medallists for the future.READ | CSK pays heartfelt tribute to Thala Dhoni on completing 15 years in international cricketGrowth of basketball in the countryWhile the platform addressed the importance of infrastructure and coaching for medal-winning Olympic sports, an interesting insight was provided by Leo Bruno, Mentor, Basketball Centre of Excellence when the conversation veered to the growth of basketball in the country. Suman Ray WATCH US LIVE “If alphabets, words and sentences is called literacy, we need to move beyond alphabets and numerals, and focus on physical literacy because we, as a nation, have come down physically,” said Gopichand. “In this era of gadgets, such a sporting revolution in schools is indeed a boon,” said the Arjuna awardee.Echoing what the coach of two Olympic medallists said, chess guru and Mentor of the Chess Centre of Excellence, RB Ramesh congratulated the vision and its implementation, and said, “We have already produced many Grandmasters in chess. Instead of looking for an ideal system, we need to make the best of what is available and such initiatives can become a great contributor to improving the sporting system.” COMMENT Last Updated: 23rd December, 2019 00:00 IST Olympians And Top Coaches To Train In Rs 180 Crore Gaudium Sportopia Olympians, cricketers and top coaches came together to celebrate the official launch of Gaudium Sportopia, the 180 crores first-of-its-kind centre. Written By Out of a mammoth total investment of 180 crores INR, 45 cr has been spent exclusively in creating 25+ world-class and fully equipped professional sport academies to be set up in Hyderabad, built on close to 20 acres of land dedicated to indoor and outdoor sports as the centre and the sports hostels looks to be fully operational by 2020 as one of the country’s leading sporting excellence centre. READ | Lakshya jumps 9 spots to career-best 32nd in badminton rankingsREAD | Manchester City still Liverpool’s biggest threat in Premier League glory: Jamie Redknapp “When the NBA came to India, one of our aims was to make kids love basketball. The passion is definitely there but it needs the support of educational institutes like it is in the American system, where the sport is connected to colleges and universities, which brings about more players.” First Published: 22nd December, 2019 20:21 IST Olympians, cricketers and top coaches came together on Sunday, December 22, to celebrate the official launch of Gaudium Sportopia, the 180 crores first of its kind centre of excellence for sports in India, where they will train the young and budding talents. India’s chief national badminton coach Pullela Gopichand, cricketer Ravichandran Ashwin, table tennis coach Subramaniam Raman, chess guru RB Ramesh were the key speakers along with Leo Bruno, Technical Director, NBA Basketball Schools India, and Sean Jamison, Wanderers Sports Medical Centre, South Africa at the panel discussion conceived and conducted by Prasad Mangipudi, Mentor to Gaudium Sportopia.The stalwarts emphasized how a sporting revolution has been brought about by the premier institution through an excellent merging of education and sports.READ | Mahesh Bhupathi: Young players need expert coaches to rise in international levelImportance of Physical literacyWhile laying out the roadmap, the 2001 All England Open champion, who is also the Mentor of Badminton Centre of Excellence at Gaudium Sportopia, stressed on the importance of physical literacy. SUBSCRIBE TO US FOLLOW US LIVE TV India’s top cricketer Ravichandran Ashwin, Mentor – Cricket Centre of Excellence, harped on the importance of creating a sense of responsibility in children. read more
John Williamson to oversee UK Tote Group’s international growth August 28, 2020 Related Articles Share Kansspelautoriteit enters into MoU with Malta Gaming Authority August 28, 2020 A number of players up and down SBC’s League of Legends have been celebrating some big fantasy football scores, as the Premier League was welcomed back following an international break.Amongst the many sides who saw their overall numbers surge towards the three figure mark, it was David Lees who secured the highest gameweek total, falling just three short on 97 and flying up to second in the table in the process. Free scoring Mohamed Salah was an inspired choice of captain, with the two goal hero’s 16 point total doubled to 32, Callum Wilson and Eric Maxim Choupo-Moting notable other inclusions, notching 17 and 10 points respectively. SBC’s Charlie Cole maintained his position at the top of the leader board, but his 66 point haul means the gap at the summit has narrowed to a mere eight. Captain Salah was again top scorer, backed up Choupo-Moting for a second time and Watford playmaker Richarlison (8 points). ‘Missed the Deadline,’ however, found themselves let down by six players who failed to register above 2 points each.Making up the top ten, leapfrogging several places in the process, is Betfred’s Stuart Grant with 83 points. The top scorer remains consistent, with Egyptian Salah proving a very popular choice in gameweek 12, with Brighton and Hove Albion’s inspired summer signing Pascal Gross chipping in with ten points.This weekend sees the return of Friday Night Football in the Premiership, as David Moyes hopes to secure his first points for struggling West Ham United at home to Leicester City. The weekends premier clash emanates from Anfield, as Jurgen Klopp’s Liverpool host Antonio Conte‘s defending champions Chelsea in Saturday’s 5.30pm kick off. This season’s pace setters Manchester City travel to Huddersfield Town, the recent conquerors of City’s fierce rivals Manchester United, who themselves welcome Chris Hughton and Brighton to Old Trafford. StumbleUpon Submit Share SBC Awards: The key to an effective submission August 28, 2020 read more
Submit Share Winamax maintains Granada CF sponsorship despite bleak Spanish outlook August 19, 2020 Share Martin Lycka – Regulatory high temperatures cancel industry’s ‘silly season’ August 11, 2020 Andrea Vota – Jdigital’s challenge of Spanish restrictions is led by logic and rationale August 13, 2020 StumbleUpon Related Articles Stockholm-listed online gambling group Betsson AB has announced the launch of its first ever Spanish market TV Campaign ‘Suecos, pero emocionantes (Swedish, but exciting)’, promoting Betsson.es.The European multi-brand operator launched its initial Spanish online gambling property last February and seeks to introduce Spanish audiences to its trusted flagship Betsson brand.“The TV commercial is intentionally non-conventional to stand out from the other online gambling commercials aired in Spain. It is presenting Betsson.es to a new Spanish audience” detailed Betsson marketing.In 2018, Betsson seeks to ramp up its coverage and presence for the expanding Spanish online gambling market.“We hope our Spanish audience likes this campaign as much as we do. Betsson is our flagship brand and we are all about customer entertainment. We want Betsson.es to be the biggest entertainer in the Spanish market” said Andrea Rossi, Betsson Group’s Managing Director, Southern Europe and LatAm.“We launched Betsson.es earlier this year and we are now introducing the brand to the wider Spanish audience as a Swedish market leader, a trustworthy online gambling operator and an expert in entertainment.” read more