81SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Austin Wentzlaff Austin J. Wentzlaff joined OnApproach in 2013 as a Business Development Analyst and is now currently Director of Business Development. He is responsible for developing marketing strategies, driving prospects to … Web: www.onapproach.net Details By now it’s clear, data and data analytics is an extremely important growth area for credit unions. Behind it all, there is one main motive – monetizing data to its fullest extent. There is tremendous value to be unlocked from data, and with it, tremendous money to be made by monetizing it. However, the burning question in the credit union world is: Whose Data is it Anyway?There are a lot of “solutions” out there to help credit unions leverage data to their fullest extent. Whether it be an analysis on the loan portfolio to increase net interest margin or a next best product analysis to increase the number of products per member. All are extremely beneficial to the credit union’s top line, bottom line, and members. Yet, how we get to these analytic outputs is extremely crucial.There are several different options with pros and cons to each. Instead of going into detail of each path a credit union could take, the focus should be on what’s important – the data. It is easy to find a company that has a “solution” and wants “help” analyze your data but the fundamental question to ask is: “Do they want to help me (my credit union), or do they just want my data?”.Making this distinction is an important first step in the data analytics journey. The credit union should be focused on monetizing their own data and not giving that data away to someone else to monetize it for themselves and their own benefit. The fact of the matter is everyone wants your data. What company wouldn’t? It’s some of the most valuable data out there – where your members shop, how much they spend, what types of vehicles they have, or what their credit scores are, etc.Instead of giving away the value of its data, a credit union must figure out a means to monetize that data for itself. The data in the credit union industry should STAY in the credit union industry. Though establishing the means (mainly infrastructure and resources) to do this is no easy task. It’s out of the reach for most credit unions, but there are CUSOs that allow credit unions to do so.The question of “Whose Data is it Anyway” has a simply answer: the data should be owned by credit unions and the credit union industry. Instead of giving valuable data away, credit unions need to come together in the form of a CUSO to help manage, store, analyze, and most importantly, monetize their data together. No third party, non-credit union, or non-CUSO should own the credit union data. Data is the asset of the future and the industry needs to band together to ensure this valuable asset stays within the industry and is not taken by some company with ulterior motives.The simple answer to “Whose data is it anyway” is: It’s yours. Make sure partners understand that the data and analytics outputs belong to your credit union, your members, and the credit union industry in general; not someone else for their own benefit.
Femi Solaja with agency reportsWith his affinity to Nigeria still very strong, World Heavyweight boxing champion, Anthony Joshua, has confirmed his desire to defend his title in the country if possible.The IBF, WBO and WBA champion recovered from a devastating upset in his first fight against the Mexican-American to reclaim the belts via a wide unanimous decision in Saudi Arabia. Joshua, who hails from Sagamu, Ogun State and even visited the country two months before the celebrated rematch against Andy Ruiz Jnr last Saturday in Saudi Arabia is keen to bring the first world heavyweight title fight to the continent since the ‘Rumble in the Jungle’ in 1974 in Zaire now Congo Democratic Republic.It was at the bout in the East Central nation that legendary Mohammed Ali reclaimed his world title belt of George Foreman after a round nine knockout.Promoter Eddie Hearn, has received numerous offers to stage Joshua’s next fight. However, with the Briton likely to be forced to face his mandatory challenger with the IBF, Kubrat Pulev, a London homecoming fight remains a more immediate probability.“People had been telling me I should go back for ages. It was crazy because they don’t have 24-hour electricity but they still know me and support me,” Joshua said.“I went to the ghettos of the ghettos where it’s not all about egos and beef, it’s about people who are hungry to survive.“It was one of the best things I’ve done. Africa’s rooting for me for sure, so I would definitely love to fight out there.”Joshua’s parents are both of Nigerian descent and he actually attempted to represent the country at the 2008 Olympics.But in the meantime, he insisted he’s not taking his eyes off the present after the lessons learned in his first fight against Ruiz.“Five months from now, the belts go in the air and I have to defend them again,” Joshua said.“I am only the champion for months again, so I can’t get too caught up in the moment and have to stay focused on the task at hand, which is not staying undefeated any more, but staying champion for as long as possible.”Meanwhile, the two-time World Boxing Heavyweight champion, Joshua has been given a 180 day ultimatum to defend one of the four titles he regained after his defeat of Andy Ruiz Jr on Saturday night.The titles he regained are WBO, IBF, WBA, and IBO. The WBO president, Paco Valcárcel was quick to tweet that mandatory challenger Oleksandr Usyk must receive a title shot within 180 days.Oleksandr Usyk, Ukrainian pound-for-pound star watched from ringside at the Diriyah Arena and Joshua welcomed a showdown with him.Usyk has joined the top division after becoming undisputed cruiserweight champion.But the immediate reaction of Joshua is: “In 180 days? Let’s rock and roll mate.”“No problem,” he added. But another possible fight is IBF mandatory title defences with Deontay Wilder.On the other hand, Ruiz Jr called for a third fight, but promoter Eddie Hearn confirmed Joshua will fulfil his title obligations, with the IBF also likely to order a title defence against their mandatory challenger Kubrat Pulev.“We’ll have to speak to the governing bodies, see who goes first, and then deal with that. Anthony will have a nice Christmas and a holiday. We’ll work behind the scenes.”Usyk could be made to wait for his guaranteed WBO title fight as the IBF have suggested their mandatory must come first for Joshua and Britain’s Derek Chisora who has been holding talks over a fight with the Olympic gold medallist.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram