Case study

Credit Union used Visa Analytics Platform to increase debit card usage by 11%

University of Virginia Community Credit Union (UVACCU) used insights from Visa Analytics Platform to achieve a better member experience and drive better business outcomes.

Challenge

UVACCU had been using two separate platforms to manage their debit and credit card data. They were looking for a single analytics solution that could help them develop a unified, more complete view of their entire portfolio’s performance. UVACCU also wanted to be able to dive deeper into their data more easily, so they could find issues faster and quickly identify actionable opportunities to improve performance.

Solution

Visa Analytics Platform allowed UVACCU to bring their card data into a single platform and gain access to granular insights at a cardholder level — empowering users of all skill levels to make timely, data-driven decisions.

UVACCU dug into their data using Visa Analytics Platform to explore ways to drive cardholder engagement. The detailed benchmarking available on the Risk and Operations Insights page within the platform helped the credit union discover that their debit decline rates were higher than average for their peer group. They evaluated the decline rate issue using Visa Analytics Platform’s Authorization Analysis report to dig into top decline reason codes, identifying expired cards and insufficient funds as the top two.

This analysis revealed a number of opportunities to improve performance. UVACCU is using the insights they gained to refine their card renewal process to better reflect cardholder preferences. They also developed a promotional rewards campaign designed to increase activation rates and transaction volume for newly reissued cards. In addition, UVACCU is working with their Visa Analytics Platform expert to explore the possibility of incorporating partial approvals into their authorization strategy.

Results

UVACCU used Visa Analytics Platform to help drive up payments volume, improve the cardholder experience, reduce call support call volume and save costs via an improved card renewal process and reduced reissue rates.

UVACCU is currently using Visa Analytics Platform to help guide acquisition campaigns, inform rewards program strategies, improve interchange performance and monitor critical operations across key growth areas like token adoption. They will continue to strive to improve cardholder experience and portfolio performance by using Visa Analytics Platform to support a wide range of business needs and use cases.

About University of Virginia Community Credit Union

University of Virginia Community Credit Union, located in Charlottesville, Virginia, serves ~70,000 Virginians and hundreds of Virginia-based businesses, managing over $1.4 billion in assets.¹ UVACCU supports the financial growth of the Central Piedmont and Valley region by providing checking and savings accounts, debit and credit card accounts, and lending and financial education services for their members.

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¹ University of Virginia Community Credit Union: Financial Performance Reports.

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