Reimagining lending for
Gen Z using AI
Perspectives from industry practitioners on closing the generation gap
Time: 30th Aug 2022, 1:00pm EST
There is an emerging disconnect between traditional lenders like Banks and Credit Unions and the borrower of the future, and apparent generational differences in banking habits and banking expectations. With Gen Z and millennials set to become the most important consumer groups in the next 10 years, lenders need to take into account the fact that new age borrowers have expectations of personalized recommendations, instant decisioning speed, and an easy application process.
The answer to these expectations boils down to two words: Artificial Intelligence.
The way we lend is evolving so quickly that those lenders that try to understand the lending landscape better, and go beyond normal data sources and lending models to gain a deeper insight of who they are lending to, are the ones who are able to grow sustainably. Leveraging and consolidating multiple sources of seemingly unstructured data into actionable credit decisions that help lend to more deserving borrowers and personalize offers in line with modern day expectations, is what AI strives to achieve.
Points to be covered
In this 45 minute webinar, we will be covering:
The evolving lender demographic: Advent of Gen Z
Expectations from the modern lender: Personalization, Instant Service, and much more
What’s taking so much time? The bottlenecks in the current lending ecosystem
Looking at lending from the AI lens:
A blow by blow comparison with current lending methods
Solving the personalization expectation with richer data
Solving the Instant service expectation with self learning custom models
Beyond expectations: How AI is changing the growth story for traditional lenders
Measuring the impact of AI for modern lending with real stories
About the Speakers
Michael Barnhardt Jr
Meridian Trust FCU
Chief Client Lending Consultant
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