2.4 Release Notes

April 2023

Here are the newest enhancements and platform system functionality increases now rolled out in Release 2.4. These features can help you leverage the system to speed and increase your ability to actionalize data into insights and be more agile in using the data to improve member relationships and growth strategies.

ListDesigner/Custom Export

Strum Platform users can now select from a list of member-level fields such as Lifestyle Segment, profit tier, unique ID, etc…to add to the List View and/or the Export file prior to downloading. This new enhancement can be accessed within the List Manager module of the platform, by selecting the “Edit Member List Column” button. Users also have the option to decrypt any encrypted fields that were selected for Export, based on the user’s permissions. Selected fields for export can be sorted by the drag and drop function to meet the user’s preferred order.

This added ability supports the clients’ needs for exporting lists for outbound calling – retaining deposit balances, cross-selling the next best product and the like; loading lists to CRM systems or viewing member contact information to confirm targeting. In addition, users can perform further analysis on fields held in the system with this capability to export the necessary raw data.

GoogleMaps Integration

Strum Platform has integrated Google Maps as the key mapping software used across the system and its chapters to improve geospatial market analysis and gain on the ground insights. Users can now make selections on the thematic map to dynamically adjust the subsequent visuals within the dashboard to view elements such as product mix, deposit and loan balances, profitability, and lifestyle segments based on a specific zip code area. Conversely, users can view the shifting member concentration when selecting a data variable or applying specific filter criteria. This integration also allows the use of rich new geolocation data points within the filter engines, for users to target members by distance and drives times to the member’s assigned or closest branch.

These new capabilities allow for a more geographical viewing of the membership, loan or deposit concentrations, or a specific analyzed segment like underserved lifestyle segments. Resulting filter criterion such as distance to a branch, or drive time for more suburban or urban markets with traffic, creates the opportunity for designing a greater member experience when credit unions can personalize communication to assist in locating the individual’s closest location.

Household Dashboard

Newly included is the household-level dashboard, Household-Summary, featuring various visuals, data elements and KPIs at the household, not member level. This dashboard can be located on the 4^thtab within the Executive Chapter of the Platform.

It is designed to help leaders in measuring performance at a household level. Users can access a variety of distributions, aggregated totals and averages across households within their membership. Important to note, when multiple members within a household have differing data elements (e.g. Lifestyle, income), the dashboard will utilize the Head of household’s. For householding details and head of household logic, please refer to Strum Platform Householding Overview document.

One tip to remember is that the Platform’s demographic data (accessible in the filter and in the Segmentation chapter dashboards) can help you identify which of your member households may have children, and the ages of those children. This is valuable data for helping target opportunities for financial education, financial learning and to guide your members to understanding how to get their children to build healthy early financial money management skills with your products and educational content. Great opportunity to be more relevant, impactful, value-added, and trusted in the lives of your members.

Report Center

The new Report Center provides access to an expansive collection of over 50 important and dynamic reports that can shed rich insights into data in a range of account, member and household level analysis, including: sales, new member growth, branch performance, member relationships, profitability levels (decile),transactions, and enterprise-level reports that will be rolled out in phases.

The Report Center within Strum Platform can be accessed on the hamburger menu and as a button along the top activity bar. These tabular reports provide a rolled-up perspective at the account-,member- and household-levels – across a range of data elements, such as highlighting the top service combinations held among membership to branch sales production.

Each report is built upon Power BI, giving the user many dynamic options such as exporting, sorting, copying, etc. via the top right toolbar. Users can also utilize the Dashboard Filter criteria and historical data periods in conjunction with these reports to focus on researching specific details around filtered members, lifestyle segments, accounts and households as you analyze opportunities for growth, manage branch trends, profile membership journeys and more.