“Our clients compete with large financial institutions that employ full-time data analysts,” said Shazia Manus, CEO of TMG. “When armed with the same kind of rich data and consumer insights, community-based financial institutions level the playing field. We know megabanks are using this information to drive many of their most profitable strategies. IQR’s deep understanding of data analysis will help our clients better understand how their customers behave, what they most value, and ultimately, which products and services have the best chances of earning loyal customers.”
According to Jeff Russell, TMG senior advisor, IQR’s expertise will help financial institutions better prepare for the future demands of consumers, particularly where payments are concerned.
“The analysts at IQR have a proven track record of supplying strategic solutions to difficult business problems, particularly those posed by a rapidly changing payments marketplace,”
Launch of an initial product prototype is planned for later this year. This product will provide data on cardholder behaviors, such as credit cardholder engagement and activation rates, providing an overall credit card portfolio health score. In addition, the product will offer tools for peer comparison so credit unions and community banks can understand how their credit card portfolios are performing as compared to similar institutions. A comparable product is planned for analysis of debit card portfolios, as well.
“Among our strong suits, the ability to model different business scenarios and identify the needs of their customers is of great value to community-based financial institutions,”
Nawab added the partnership with TMG will increase IQR’s footprint in the community financial institution marketplace, a strategic objective within the company’s overall growth plan.
About IQR Consulting
IQR Consulting is a leader in portfolio and financial analytics, reporting, statistical modeling and campaign management. The analysts at IQR are experts in the use of segmentation as a means for highly targeted marketing. With accurate and actionable insights and analysis, IQR helps credit unions, banks and casinos leverage data assets to increase profitability and to better compete against larger institutions. For more information, visit www.iqrdataanalytics.com.
The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com.