Credit unions must improve cross-sell efforts

first_imgDespite the fact that credit unions have talked about the importance of cross-selling for decades, few institutions have a disciplined process to take advantage of cross-selling opportunities that can grow operating revenue from existing members. For those organizations that do have a process in place, studies show that many are not targeting the offers to reflect insights readily available, thereby annoying some of the best members.by: Jim MarousOutside of an improved interest rate spread (which is unlikely in the foreseeable future), banks can only create revenue by adding new members or by deepening existing relationships. At a time when competition for new customers has never been greater from both traditional and non-traditional players, the only sustainable opportunity is to sell more to the members a credit union already has.While the findings differ a bit by study, research shows that U.S. adults own between 8-12 financial products each, with ownership of services increasing with age (until age 54), by channel (online users have more products) and by type or institution (credit unions and smaller banks do better cross-selling).“While the number of products held by a typical household hovers around 10, most customers only hold 2-3 services at any one institution.”While the number of products held by a typical household hovers around 10, most customers only hold 2-3 services at any one institution. Only the very best organizations sell more than four services to any one customer (not including ‘go with’ services such as debit cards). How can credit unions improve their penetration within their current member base? continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Tutor establishes endowed chair position at Keck

first_imgLast week, the Keck School of Medicine of USC announced the creation of the Alia Tutor Endowed Chair, a position meant to advance the field of reproductive medicine.Benefactors · (Left to right) Keck School of Medicine of USC Dean Carmen Puliafito; Alia Tutor, donor of the chair position and Richard Paulson, director of USC Fertility and the first person to hold the Alia Tutor Endowed Chair. – Photo courtesy of Steve CohnAlia Tutor, a former adviser to the United Nations Office for Partnerships and wife of USC Trustee Ronald Tutor, provided the endowment for the new position.Alia Tutor currently serves on the board of directors of Indego Africa, a non-governmental organization that advocates the economic and educational advancement of women in Rwanda. She also has worked extensively in the private sector, primarily in executive positions in companies such as Nourish Capital and Yorkshire Global Restaurants.The chair position will be within the Keck Department of Obstetrics and Gynecology, a leading institution in women’s health that specializes in complex infertility treatment and in vitro fertilization.The first holder of the chair will be Dr. Richard Paulson M.D., director of USC Fertility and Keck obstetrics and gynecology professor, who specializes in the study of the fertility of women older than 40.“Richard Paulson’s  groundbreaking research and treatment have given hope to many couples who feared they would never be able to have children,” Dean of Keck Carmen Puliafito said to USC News. “This generous gift is a testament to his innovation and leadership and will assist him in his important work.”Paulson has headed the USC Fertility Program since 1986, a division of Keck that concentrates on infertility treatment and the effect of aging on fertility. His work has been published in multiple medical journals, including the Journal of the American Medical Association and Lancet.A UCLA graduate in medicine specializing in obstetrics and gynecology, Paulson famously facilitated a 63-year-old woman’s pregnancy and the healthy birth of her child in 1997. At the time, she was the oldest patient in the history of fertility treatment.Paulson noted his excitement over the new opportunity in an interview with USC News, as chair positions within his chosen specialization are uncommon.“Chairs in this field are rare,” Paulson told USC News. “And although we’ve made a lot of progress in the fields of reproductive endocrinology and infertility, there is still a great deal of work to be done. It’s a wonderful gift from the Tutor family to the Trojan Family.”His most recent endeavors have involved analyzing the role of vitamin D levels in correlation to successful pregnancies. His division is also researching the absorption and clinical administration of reproductive steroids.This endowment adds to the list of Tutor family contributions, a name which is no stranger to the USC community — both the Ronald Tutor Campus Center and the Viterbi School of Engineering’s Tutor Hall are named after the couple.last_img read more

SIS: Evolving your product offer to meet bettors’ needs

first_img Richard FitzGerald steps down as RMG CEO August 6, 2020 Share StumbleUpon Related Articles Submit SBC Magazine Issue 10: Kaizen Gaming rebrand and focus for William Hill CEO August 25, 2020 HBLB ups prize money commitment by 50% July 31, 2020 Share Paul Witten, Product Director at SIS, highlights why non-stop live betting opportunities available throughout the day are key to driving future business growth within the sports betting industry.As the international betting industry prepares to make its way to London for the biggest trade show of the year, you can be sure that there will be plenty of exhibitors unveiling exciting new products at the exhibition. From new slot games to platform enhancements, ICE London presents a fantastic opportunity for operators to discover the latest innovations to hit the marketplace. Evolving your product offering is imperative to stay competitive in this industry, whether you are an operator or supplier. Not only as a means to differentiate yourself, but to adapt to changing consumer needs.Within the sports betting market, betting operators are all jostling for market share. Offering a seamless customer experience is key, and standing out in a very busy market is a key challenge for operators. Understanding what bettors want, and providing relevant and timely betting opportunities, is what will set operators apart from the competition. The way in which consumers engage with content has changed significantly in recent times. Entertainment giants including Netflix and Spotify have driven a new approach to how people can access their favourite films and music.With millions of people all over the world subscribing to these streaming sites, it’s inevitable that the trend for easily accessible, on-demand content will influence our industry too.We’ve already seen a significant increase in bettors engaging with short-form content in the sports betting market, as well as in other verticals. Horse racing and greyhounds are ideal short-form betting formats, as they deliver quick-fire, frequent betting opportunities, as well as providing consistent margins for operators.  Bettors are looking for frequent betting opportunities, at times which suit them, and therefore, delivering frequent live, free-to-view betting opportunities meets this need. The sports betting experience is far more engaging when there’s an opportunity to view the live event in which you’ve placed a wager on. Whether you’re sat in your local bookmakers, or viewing an operator’s online sportsbook, live pictures help to raise excitement levels and often encourage further engagement.  The ‘watch and bet’ model is hugely effective in driving incremental revenues, with numerous operators enjoying success by offering live pictures to accompany the data for sports.Whatever the location around the world, it’s key for operators to provide their customers with compelling betting opportunities at a time of day that suits them. The availability of round-the-clock betting opportunities has been a major focus for SIS. The launch of our new 24/7 Live Betting Channels means that operators can now provide premium live racing content throughout the day, with a betting event every three minutes.Delivered as an end-to-end solution, operators can tailor the channels to meet their individual needs, with bespoke partner logos, time zones and languages for commentaries, plus on-screen graphics and betting triggers.It is key that the betting sector mirrors the broader entertainment industry, by offering easily accessible, engaging content, at times that bettors want it. Operators that provide this, will help differentiate themselves, whilst meeting changing customer needs.  SIS will be exhibiting at ICE London 2019. To find out more about the products it provides, head to stand S2-180.last_img read more