DES MOINES, Iowa (9/12/12)--Payments processor The Members Group (TMG), Des Moines, Iowa, has made an equity investment in data analytics firm IQR Consulting.
California-based IQR Consulting uses data analysis to help companies anticipate market changes and respond to changing business conditions.
"Our clients compete with large financial institutions that employ full-time data analysts," said Shazia Manus, TMG CEO. "When armed with the same kind of rich data and consumer insights, community-based financial institutions level the playing field. We know megabanks are using this information to drive many of their most profitable strategies."
Data analysis will show how consumers behave, what they value most, and which products and services have the best chances of earning loyal customers.
An initial product prototype will be launched later this year. The product will provide data on cardholder behaviors, such as credit cardholder engagement and activation rates, providing an overall credit card portfolio health score.
It also will offer tools for peer comparison so credit unions and community banks can understand how their credit card portfolios are performing compared with those of similar institutions. A comparable product is also planned for analysis of debit card portfolios.