Summary

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Peter Renton, Co-founder & chairman of LendIt Fintech talks with Pankaj Kulshreshtha CEO of Scienptic AI on Scienaptic’s AI driven credit underwriting solution for Lending Institutions.

In this podcast, they discuss on AI-driven credit underwriting has gone from a curiosity to a must-have in the last five years. Lenders of all sizes aspire to use AI-powered credit decisions to approve more borrowers. Why? Because It is simply better. Lenders get better decisions instantly, can approve more borrowers with confidence and can price loans more accurately.

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• Demystifying AI in credit, what it actually means.
  

• How smaller banks and credit unions are incorporating AI-powered credit decisions?
  

• What is involved in implementing AI-powered models?
  

• How will this impact the borrower experience?
  

• Why AI-based underwriting is the way of the future?

Summary
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Eric Steinhoff, EVP Client Impact at Scienaptic, and Floyd Rummel, Chief Executive Officer at Northern Hills Federal Credit Union, shared how Northern Hills FCU will leverage Scienaptic’s AI-powered credit decisioning platform to better manage external and internal limitations in today's current environment. 
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Eric and Floyd also addressed why jumping on the AI bandwagon is now a solution. Credit unions must ensure that they adapt AI to their specific portfolio and business needs.
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In addition, they talked about the future roadmap and how does one navigate potential issues like talent shortage, fair lending, bias, etc.?
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The fascinating discussion here -- especially if AI-focused solutions are on your credit union's radar. Check it out and let us know your thoughts.