WACHA, MACHA Partner with Segmint to Help Members Activate their Data to Unearth Hidden Market Intelligence
Associations offer Segmint’s Payment Analytics to help members remain ahead in rapidly changing financial markets
Germantown, WI. - Oct. 18, 2018 – The Wisconsin Automated Clearing House Association (WACHA), and the Mid-Atlantic Payments Association (MACHA), have partnered with Segmint, a leading provider of data-driven solutions, to give financial institution members a more complete view of their account holder data to enable them to better serve customers.
WACHA and MACHA have added Segmint’s Payment Analytics to their comprehensive list of solutions, providing financial institution members with actionable insights and trends about account holders and competitors. The data is helping members identify new market opportunities, better understand and communicate with account holders, and predict growth opportunities rather than react to the past.
“In today’s highly competitive market, we recognized our members needed to activate the wealth of intelligence they have hiding in their transaction data” said Mary Gilmeister, President of WACHA and PAR. “A partnership with Segmint helps our members not only understand but also utilize their payment data to improve strategies and communications across the entire institution.”
Segmint’s Key Lifestyle Indicator (KLI) technology is the foundation of the Payment Analytics offering. KLIs are descriptive data tags that identify, standardize, and categorize the millions of inconsistent transaction descriptions financial institutions receive every year. For example, Segmint has distilled over 30,000,000 variations of ACH transaction descriptions into more than 31,000 KLIs that describe customer activity with competing institutions for both retail and commercial lines of business.
“We strive to ensure our members are educated on and utilizing the most innovative payment technologies” said Robert E. Dael, President and CEO of MACHA. “After learning about Segmint’s robust analytics, transaction identification capabilities, and industry experience, we knew our members would quickly be able to generate value and drive results from a Payment Analytics offering.”
Understanding customer payments allows financial institutions to better anticipate the future needs of their account holders. From just 90-days of ACH transactions, Segmint provides a detailed analysis of account holder spend with competitive institutions, including top competitors overall and by specific product categories. Financial institutions are using KLIs to inform and deploy hundreds of data-driven initiatives around personalization, cross-sell/upsell, product utilization, customer onboarding, competitive intelligence and more.
“I have worked with a lot of different analytics packages and MCIFs, and Segmint’s Payment Analytics provides something I have never seen before,” said Fred Schwertfeger, President of Horicon Bank. "Segmint’s Payment Analytics gets underneath competitive data that is not in a typical market share report and provides a more complete view of our competitors. This data helps us quantify the impact that non-local competitors have, as well as identify opportunities to expand our own customer relationships.”
“WACHA and MACHA have always understood the power of ACH data, and what harnessing that power can do for a financial institution” said Rob Heiser, President and CEO of Segmint. “Our partnership only increases the competencies that both associations have, and will ultimately drive results for their financial institution members.”
For inquiries about Segmint’s Payment Analytics, WACHA Members can contact Mary Gilmeister, by phone at 262-345-1245 or by email at email@example.com. MACHA Members should contact Tracy Berriman at 410-859-0090 or firstname.lastname@example.org.
Media inquiries, please contact Rachel O’Neill at 330-594-5379 x 304 or at Rachel.email@example.com.
In March of 1976, the Wisconsin Automated Clearing House Association (WACHA) was created as a nonprofit 501(C)(6), membership-based organization which provides financial and business communities with electronic payments education and information. In 2011 PAR Payment Advisory Resources was created to be the trusted source for leading –edge solutions and ideas through innovations and delivery to WACHA members and the global market place.
The Mid-Atlantic Payments Association (MACHA) is a member-based organization recognized as the premier resource for information related to payments rules and networks. Established in 1975, MACHA serves financial institutions, businesses, and municipalities in Maryland, the District of Columbia, Delaware, Northern Virginia, Northeast West Virginia, and Southern Pennsylvania.
MACHA shares a common strategy with its membership in the pursuit of maximized business efficiencies, improved and evolving payment processes, reduced risk and cost, and increased participant satisfaction. It is our mission to provide our members with comprehensive payments education and cost effective operational solutions.