Coastal Credit Union sought to enhance member engagement and drive growth by offering personalized product and service recommendations to their current members. The organization needed a solution that would allow them to effectively analyze member data and provide accurate, tailored financial life journeys without requiring a new team of data scientists or marketing specialists.
Vertice AI’s platform uses machine learning algorithms to analyze first-party and third-party member data, personas and life stages to generate member financial journey recommendations and engagement opportunities for each member. This enables Coastal Credit Union to anticipate member needs and offer targeted financial products and services, leading to a more inclusive and proactive financial community.
• 4.3x increase in new account openings for Money Market accounts
• 3.0x increase in new account openings for Home Equity Line of Credit (HELOC) accounts
• 3.5% higher initial balances for new Money Market accounts
• 40% higher initial deposits for new checking accounts
“We were spending a lot of time, talent and treasure trying to improve cross sell growth in our membership. We have worked with the bureaus and internal resources to identify targets, but there’s a lot of time and effort and expense that goes into connecting all the dots. Additionally, deposit products and various services like bill pay and payroll deposit aren’t readily available and generating a favorable ROI takes further effort and expertise.
“We sought a partner we can grow with, that has the expertise to find the opportunities we know we want and ones we didn’t think about as well as provide results, making ROI easy to solve. We also wanted a solution that will prescribe the engagement tactics and creative to engage with our defined personas. Vertice AI will allow us to shift resources in analytics and marketing while delivering a full-fledged growth engine.”
Brandon McAdams
VP of Strategy and Insights of Coastal Credit Union