Stakana Aims to Expand Credit Union Partnerships for Enhanced Deposit and Loan Predictive Insights

We at Stakana, a predictive insights startup that applies advanced AI methods from the retail/e-commerce industry to some of credit union’s biggest problems, aim to partner with more credit unions to further develop two products they initiated with CEFCU of Peoria, IL ($7.6B assets / 388K members). These products increase deposits or loans by producing predictive insights that allow you to proactively target your best prospects among your existing members.

These two products are mentioned here with more details below:

• RETAIN: Which members will leave–and how can you effectively retain them?

We determine which of your members are in greatest danger of disengaging and eventually closing their accounts, identifying them early in the member journey so that it’s fairly easy to re-engage them. We also measure the effectiveness of both our forecasts and your intervention to keep our results effective. The estimated ROI is 3-4 times the cost.

This helps build up your deposits since you’re focusing on deposit retention.

• ENGAGE: Which indirect members are your best prospects for a credit card?

We determine which of your indirect members have the highest chance of signing on to a credit card account, therefore adding a renewable loan to a fixed loan and getting that person on the path to becoming a full member. This product involves an innovative new approach using AI methods successfully used in recommendation engines for e-commerce. The ROI has not been calculated yet, but this is part of the pilot partner process.

This helps build up your loans since you’re adding a rechargeable loan on top of a fixed loan.

Both of these products were initiated with data and assistance of CEFCU, and we’d like to extend our development to fit your data and your challenges. Common elements of both of these products include the following:

• We measure our impact and ROI.

• We’ll develop around your needs and challenges.

• We’ll be much more affordable than most consultants.

• We won’t require the installation of another IT platform.

• We’ll use the best AI methods from our 20+ years experience in retail and e-commerce.

• Our contacts at CEFCU can provide details about how they operationalized our results.

Are you potentially interested? Let us know by requesting a demo, or email Nate Derby (nate@stakana.com) or Howard Keener (howard@stakana.com).