(Des Moines, Iowa – January 3, 2013) – IH Mississippi Valley Credit Union (IHMVCU) of Moline, Ill., a client of The Members Group (TMG), has contracted IQR Consulting to conduct an in-depth analysis of the cooperative’s credit card and checking accounts portfolios. IQR Consulting is TMG’s data analytics partner. Through the analysis, IQR’s data analysts will review the performance of IHMVCU’s portfolios and make detailed recommendations for strategic growth.
“As are most of our colleagues, we are good at collecting information,” said Ann McMillian, IHMVCU EVP Member Sales and Solutions. “It’s in the analysis of data that we are in need of superior, experienced counsel. IQR’s team is composed of exactly the expertise we are looking for – and best part, it’s a very sound investment we are able to make toward the growth of our key programs.”
According to Karan Bhalla, a member of IQR’s management team, analytics can help credit unions like IHMVCU become more competitive in today’s complex marketplace. “Working with IQR will allow IH Mississippi Valley to focus on its core competencies while leveraging IQR for detailed analysis,” said Bhalla. “Through the analysis, we will offer the credit union’s management actionable recommendations for each portfolio’s growth based on their unique opportunities, member methodologies and strategic objectives.”
The partnership also will provide IHMVCU a look into their portfolios from a completely new perspective. Among the outcomes IQR expects are identifying gaps in the credit union’s analytical approaches, setups and next steps. “Our analysts use advanced statistics and modeling techniques to provide the right products and offers to cater to specific opportunities with a credit union’s unique membership base,” added Bhalla.
In addition to providing valuable insights into a credit union’s members’ behaviors, IQR also works with financial institutions of all sizes to enhance operations and marketing programs through data analytics.
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.
About TMG
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.