A new initiative at Filene Research Institute focuses on data analytics with a goal of uplifting credit unions and their ability to serve their communities. The institute launched its Center of Excellence for Data Analytics and the Future of Financial Services and will be guided by Dr. Cheri Speier-Pero, its new research fellow.
The three-year research project focuses on applied research to advance the practice of data analytics and prepare credit unions for the future financial services landscape. The research produced within this project will offer an actionable framework for effective approaches to data management and analytics for the larger financial services industry concomitant with ethical practices in the use of consumer data.
Speier-Pero is an Ernst & Young professor of accounting and information systems, and associate dean of undergraduate programs at Michigan State University Broad College of Business.
“My core interest and area of expertise is around data and understanding how organizations can organize, structure, and use data to drive business value,” said Speier-Pero. “This research project will not just be about how to build the technical skills to create models and develop platforms to drive analytics outcomes, but about understanding the cultural and political environments of an organization to influence and successfully implement models in a way that creates value. This reflects my broader vision to help leaders move ideas forward through the implementation of new value-creating technologies and systems.”
The applied research focus of this project will be a key element for credit union leaders, allowing for practical applications of new and novel research findings.
Credit unions and system partners have an opportunity to get involved as part of Filene’s Inner Circle by sponsoring Data Analytics and the Future of Financial Services and contributing to its critical applied research work, much like these strategic partner organizations have.
Through the end of 2020, Filene will launch two more Centers of Excellence focusing on the impacts of financial services on community well-being and the strategic advantages of social responsibility, and best practices in measuring and accelerating innovation and incubation. This rounds out Filene’s research agenda with six research center focus areas. Centers for Diversity, Equity & Inclusion, Consumer Financial Lives in Transition, and Emerging Technology launched earlier in the year.
Support for the Center for Data Analytics and the Future of Financial Services is provided by Alliant Credit Union, America First Federal Credit Union, Kinecta Federal Credit Union, Michigan State University Federal Credit Union, Visa, Inc. and Vizo Financial Corporate Credit Union.