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Feb 21, 2024


5 Considerations to Successfully Navigate Economic Uncertainty with AI-Driven Lending


Howard Heinrich, VP of Consumer Lending, CoVantage Credit Union
Anne Legg, Founder, THRIVE
Eric Steinhoff, EVP Client Impact, Scienaptic AI

Economic uncertainty can daunting and demands agility and innovation. In these challenging times, AI has emerged as a powerful tool in credit decisioning, enabling recession-resistant lending for early adopters. In our upcoming webinar, we will delve into 5 things you should consider to leverage  AI into an opportunity to offer robust support for members and build recession-resistant portfolios.

Key Takeaways:

  • Credit union AI readiness: Understand what is needed to assess your credit union for AI readiness.

  • AI strategy  - Learn best practices in AI strategy and how it should fit into your overall data strategy and enterprise strategy.

  • AI as an Early Warning System: Uncover how AI’s advanced capabilities in simulating scenarios and predicting credit behavior can serve as an early warning system against potential financial distress.

  • Build recession-proof walls: Learn how AI and alternative data strengthen your lending practices, promoting financial inclusion and stability for your members.

  • AI as a Growth Catalyst: Discover how explainable AI, armed with the right safeguards, can fuel growth even amidst economic uncertainties.

  • Getting started: Discover practical ways to integrate AI into your existing processes, streamlining decision-making and boosting efficiency.

Please join Howard Heinrich, Vice President of Consumer Lending at CoVantage Credit Union, George Sellitto, CLO at WyHy Federal Credit Union, Anne Legg, Founder of THRIVE, an industry leader, author, educator, and award-winning data strategist and Eric Steinhoff, EVP - Client Impact at Scienaptic, as they help you not only survive but Thrive in 2024.

Register for this webinar and equip your credit union with AI-powered tools to navigate economic uncertainty and build a brighter future for your members.

Oct 25, 2023


AI-Powered Lending: Empowering Members in Times of Financial Need


Tracy Kaufman, Chief Lending Officer, Wildfire Credit Union
Eric Steinhoff, EVP, Client Impact, Scienaptic AI

The integration of AI into the credit evaluation process has the potential to be a game changer for credit unions aiming to support their members. Instead of adopting more conservative lending practices, credit unions can harness AI to refine their risk assessment procedures. By leveraging AI, credit unions can gain a more comprehensive understanding of their members and offer them speedy, transparent, and inclusive access to credit. This includes tailoring loan options to individual needs, ultimately creating a more meaningful and personalized credit experience.

In this upcoming webinar, we will explore the numerous advantages that AI brings to credit decisioning. You'll have the opportunity to hear directly from AI experts and leaders of Michigan's Credit Unions as they share their transformative experiences with AI. They will shed light on how AI has revolutionized their loan approval processes, ultimately benefiting their members in significant ways.

Key Takeaways

  • Gain practical insights into demystifying AI in credit through real-world experiences.

  • Explore the pivotal role of alternate data in building a comprehensive member profile.

  • Uncover a roadmap for safely increasing approval rates and automating processes.

  • Discover the benefits of using AI to benefit your members.

  • Learn how to initiate your AI journey effectively.

  • Foster proactive engagement with AI.

Aug 24, 2023


Using AI-powered digital lending to engage, enrich, and empower members


Travis Bow, CEO, UHFCU
Dustin Cole, Senior Vice President, Arkansas Federal Credit Union
Scott Stephens, Sr. Director Business Development, MeridianLink
Eric Steinhoff, EVP Client Impact, Scienaptic AI

With 73% of millennials and 66% of Gen Z living paycheck to paycheck, it's crucial for credit unions to adapt and play a role in improving their financial health. However, currently, only a small fraction of the younger generation, 5% of millennials and 4% of Gen Z individuals are credit union members.

Advancements in AI present a game-changing opportunity for credit unions using MeridianLink. By automating loan application assessments, AI technology liberates underwriters' time, allowing them to establish personalized relationships with members who have unique stories.

Using AI, MedianLink users can gain a deeper understanding of members and adopt fair, transparent, and regulatory-compliant AI-powered underwriting. This approach enables the provision of a hyper-personalized digital lending experience that fosters trust.

Discover the transformative power of AI in credit unions, specifically catering to the financial needs of Gen Z and millennials.

In our webinar, we had delve into:

  • How AI revolutionizes credit unions' ability to serve Gen Z and millennials.

  • The automation of loan decisions through AI

  • Real-world examples showcasing how MeridianLink users increased approvals and automation

  • How AI works for credit unions of all sizes

Jul 27, 2023


Defeating Application Fraud Without Impacting Real Members


Mallory Hazard, Vice President of Consumer Lending, ELGA Credit Union
Richard Snyder, Director of Credit, American Cycle Finance
Andrew Morris, Senior Counsel for Research and Policy, NAFCU
Vivek Ahuja, Head of Enterprise Sales & Alliances, SentiLink
Eric Steinhoff, EVP Client Impact, Scienaptic AI

In today's fast-paced digital lending landscape, traditional fraud detection methods are no longer sufficient. Identity theft remains a significant cause of losses for credit unions, and synthetic ID Fraud is a growing concern, with recent studies revealing 1.8 million consumer credit accounts potentially linked to fraudulent synthetic identities within a year. Alarmingly, over 30% of these accounts were at risk of major delinquency or charge-offs, resulting in average losses of $8,000 - $10,000 per incident. Credit unions need comprehensive solutions to effectively detect and prevent fraudulent applications during origination while ensuring genuine members' experiences are unaffected.

Join Scienaptic and SentiLink for an insightful webinar on how deep understanding of these tactics coupled with technology can be a game changer in credit origination fraud prevention. Together, let's combat synthetic ID fraud and identity theft, and create a safer and more secure credit origination environment.

Our discussion will include: 

  • Evolving fraud landscape: Understand the changing fraud techniques and regulatory challenges in credit origination. 

  • Human insights powered by machine learning in fraud prevention: Discover how this union can accurately detect and prevent fraud, leveraging vast data analysis and complex pattern recognition.

  • Streamlined operations with AI: AI-powered solutions automate manual processes, reduce false positives, and provide a frictionless credit origination experience.

  • Real-world success stories: Gain insights from credit unions that have achieved reduced fraud losses, improved detection rates, and enhanced compliance through AI implementation.

  • Best practices for AI fraud tool adoption: Understand key considerations for implementing AI-driven fraud prevention systems, including member experience, and false-positive considerations.

  • Q&A engagement: Get specific answers to your questions about credit origination fraud prevention and AI adoption.

Jul 20, 2023


Navigate Uncertainty In Lending Using AI: Strategies For Success In The Current Economic Climate


George Sellitto, CLO, WyHy Federal Credit Union
Brian Hughes, Former CRO, Discover Financial Services
Ping Fan, Vice President, Credit Strategy & Modeling, OppFi
Connie Bonello, Sr Director Financial Services, Capgemini
Pankaj Kulshreshtha, CEO, Scienaptic AI

Many financial institutions are turning to AI for recession-resistant, fair, and inclusive lending strategies to support their customers. Financial institutions that have implemented AI-enabled platforms have seen 70-90% increases in automated decisioning with gains of 30-50% in automated approvals. In addition, overall approval rates improved by 15-40% while decreasing loss rates by 10-25%.

Our discussion will include:

  • The benefits of leveraging AI for financial institutions and their customers

  • Strategies for financial institutions and lenders to build recession-resistant portfolios powered by AI

  • How to use AI to increase credit access for underbanked and marginalized customers

  • Examples of successful implementation of AI in lending

  • Methodologies to manage the Internal and external challenges in bringing AI into a lender’s risk organization

This webinar is designed for senior risk leaders and lending professionals who want to learn how to use AI to mitigate recession risks. 

Feb 8, 2023

Panel Discussion

Worried about ensuing recession? Learn how fair & inclusive AI is helping credit unions & lenders come out stronger


Terry Katzur, CEO of ELGA Credit Union
Zach Tondre, Director of Strategy for Credit Risk at LexisNexis
Greg Strizich, President and CEO of Intrepid Credit Union
Eric Steinhoff, Client Impact at Scienaptic AI

In an effort to support their members, many credit unions have turned to AI for recession-resistant, fair, and inclusive lending strategies. In this webinar, we will dive deep into the specific ways that fair and inclusive AI can be used to assist deserving members and improve credit access safely.

The webinar is designed for credit unions and lending professionals who want to learn about using AI to mitigate recession risks and improve credit access for underserved members. It will showcase examples of lenders who have successfully implemented fair and inclusive AI-powered lending and its positive impact on their members and loan portfolios.

Our discussion will include the following:

  • Benefits of fair and inclusive AI in increasing access to credit for underbanked and marginalized members

  • Strategies for credit unions and lenders to use fair and inclusive AI to mitigate risks

  • Examples of successful implementation of fair and inclusive AI in lending

  • How fair and inclusive AI can help credit unions and lenders weather a recession

Sep 8, 2022

Panel Discussion

Recession-Resistant Agile Underwriting Using AI


Daniel Baker, Chief Lending Officer, 4Front Credit Union
Mark Rowan, Chief Technology Officer, Credit Union of Colorado
Nicholas Schmitter, Chief Lending Officer, Advantage One CU
Eric Steinhoff, Client Impact, Scienaptic AI

Nobel-winning economist Paul Samuelson had once quipped that Wall Street had predicted nine out of the last five recessions. While the markets may be touted as cautiously pessimistic, it is evident that we are on the cusp of an economic downturn.

The use of AI in credit decisioning can be a game changer for credit unions looking to support their members, especially in light of recessionary trends. Instead of tightening their belts, credit unions can use AI to tighten their underwriting. Through the use of AI, credit unions can provide members with fast access to credit, customized loan options, and transparent and inclusive credit decisions.

But this transition to AI requires careful planning. We must understand and learn from the experiences of risk leaders so that we can take this evolution to fruition.

In this webinar, we bring you perspectives from seasoned risk leaders on how to make this transition. We will cover the following:

  • Creating a sustainable, recession-resistant lending toolkit

  • AI-enabled fair, transparent lending for enhanced customer relationships

  • Differentiating between credit-worthy members in need vs. high-risk ones

  • Building early warning systems

  • Help realign risk strategies as per the changing economic climate

Aug 30, 2022


Reimagining lending for Gen Z using AI


Michael Barnhardt Jr, CLO, Meridian Trust FCU
Kirk Drake, Founder, CU 2.0
Jack Imes, Chief Client Lending Consultant, Allied Solutions
Eric Steinhoff, Client Impact, Scienaptic AI

A recent survey of borrowers across the USA revealed that only 47% of Gen Z respondents in the USA claimed to have an account with a traditional bank, neobank, or Credit Union.

The above stat reflects the emerging disconnect between traditional lenders like Banks and Credit Unions, and point to the 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.

In this webinar, we will be deconstructing the expectations of the new generation of borrowers, and how traditional lending methods may fall short in fulfilling these expectations. We’ll showcase how AI has had on transforming lending infrastructure for traditional lenders, and elucidate the impact of AI-enabled lending through real-life examples by lending leaders and AI lending practitioners.

Points to be Covered

  • 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

Jul 12, 2022


Fair Lending: Using AI to democratize compliance


John Witterschein, Head of Consumer Credit, Bethpage FCU
Kevin King, VP Credit Risk and Marketing Strategy, LexisNexis Risk Solutions
Eric Steinhoff, Client Impact, Scienaptic AI
Vinay Bhaskar, AI Innovation & Data Science, Scienaptic AI

The conversation around fair lending has gained traction in the background of resurgent campaigns for an end to racial and gender bias in recent times. Fair lending in its truest sense requires lenders to adopt the least discriminatory alternatives when it comes to processing or decisioning a loan application. 

AI models hold great promise for identifying and enabling traditionally underserved groups.

Through them, we can minimize subjectivity and bias, generate more consistent outcomes, increase efficiency, and make better decisions. Algorithmic and AI-based systems, when properly conceived and managed, can expand opportunities. 

That said, transitioning to AI-based algorithms requires the right regulatory lens and framework. An Advisory from the Consumer Financial Protection Bureau on digital redlining and its impact on fair lending practices highlights the urgent need for the right regulatory framework.

This webinar will attempt to address the questions around the usage of AI to enable fair lending, elucidate how explainable AI supplemented by the right safeguards will serve to supplement compliance guidelines around AI in lending, and get insights from the impactful stories of practicing lenders who have implemented AI in their lending processes.

We will also be attempting to answer questions on fair lending testing and disparate impact analysis done by Scienaptic, demonstrate how Scienaptic is making an impact on fair lending practices, and discuss in detail the recent advisory by CFPB on AI usage in lending, and how it does more good than harm for the AI lending landscape. 

Mar 24, 2022

Panel Discussion

Customer experience is everything: Get it right for your lending process using AI


Bradford Primavera, Chief Product Officer, Rocket Financial
Wesley Hawk, VP Finance & Credit Operations, The Fundworks LLC
Brian Caird, Senior Underwriter, Northern Credit Union
Seth Pfendler, Consumer Underwriter, Northern Credit Union
Eric Steinhoff, Client Impact, Scienaptic AI

From a simple google search to amazon recommendations to Netflix browsing to Uber rides - AI is already embedded in our lives and shaping our experiences. However, AI in lending is still far from becoming mainstream. Credit experience and availability for borrowers did not significantly improve despite advances in technology and data availability.

This is where AI offers exciting opportunities. Providing customers/ members with the right credit products, approving more members, and providing guidance as they move through their financial lives - from buying cars to saving and investing - lines up perfectly with any lender's mission.

These AI-enabled opportunities will help lenders enhance customer lives, build stronger relationships with their customers and capture a greater share of wallet for their financial products.

The webinar features insights from early adopters and visionaries who are powering their lending processes with AI to say more ‘yes’ to customers and create unique experiences for them.

Highly seasoned risk leaders will share their personal stories on how they are using AI to reduce friction, eliminate costs, and mitigate lending risks. More importantly, they will share recipes on preparing for growth.

Key takeaways: 

  • Demystifying AI in credit through real experience sharing

  • Roadmap to safely increasing approvals and automation

  • How to improve the borrower experience

Dec 9, 2021


AI for lending and beyond: New use cases, trends and adoption roadmap


John San Filippo, Co-Founder Finopotamus
Kirk Drake, Founder CU 2.0 • Board member NACUSO
Daniel Estal, VP of Lending Northern CU
Michael Mehling, VP of Lending Heritage Financial CU
Solomon Semere, Senior Director LexisNexis
Eric Steinhoff, Client Impact Scienaptic AI
Kathryn Bonesteel, VP of Partnerships Scienaptic AI

Hundreds of credit unions and auto lenders are adopting AI for lending. The value proposition is clear - AI allows superior loan decisions enabling more approvals and affordable credit. 

But there is an equally compelling case to use AI-powered intelligence at every touchpoint of a member's journey and drive better outcomes for them. As the world becomes increasingly digital, members expect personalized experiences throughout the engagement lifecycle.

The panel features insights from early adopters and visionaries who are implementing AI on  a broad range of use cases, including:

  • Membership expansion

  • Preapprovals

  • BNPL offers

  • Collections & servicing

Sep 29, 2021


Bringing AI to Credit Unions


Eric Steinhoff, EVP Client Impact, Scienaptic AI
Kathryn Bonesteel, VP of Partnerships, Scienaptic AI
Floyd Rummel III, Chief Executive Officer, Northern Hills FCU
Alicia Carlson, Credit Systems - Consumer Lending at Gesa CU
Daniel Estal, VP of Lending, Northern Credit Union
Mark Rowan, Chief Technology Officer, Credit Union of Colorado

The strategic planning season presents an opportunity for all credit unions to identify and incorporate new imperatives that can help mitigate risks and streamline critical processes. Through this leadership webinar we aim to offer insider tips on why AI-based credit decisioning should be a part of strategic planning for all credit unions.

AI has opened up a plethora of possibilities to gain a competitive edge, streamline organizational transformation and  put large volumes of underutilized member data to create meaningful and personalized experiences for members.  The current use of AI in credit decisions and lifecycle management makes it imperative to prepare a comprehensive AI Roadmap to enhance member experience. In the post vaccine world, AI based decisioning can leverage growth opportunities by improving access to credit while helping underserved members get back on their feet.

Viewers of this webinar will get insights into:

  • Re-aligning organizational goals with an AI framework at its core

  • Detailed facets of building an AI framework for your organization

  • Structuring data and internal resources and aligning them into an AI based credit decisioning model

  • Role of the Executives in driving AI culture 

Jul 22, 2021

Panel discussion

Enhancing lives using AI: A roadmap from early adopters


Kevin Willborn, VP of Consumer Lending, Gesa Credit Union
Jim Kasch, CU Expert & Former CEO, DEFCU
Jon Turan, General Sales Manager, MCMC Auto
Eric Steinhoff, Client Impact, Scienaptic AI

A year ago, when most lenders tightened their belts, some tightened their credit strategies. They invested in technologies such as AI to grow relationships with their customers in their hour of need. Their wins from AI lending are compelling - they mobilized opportunities and credit access for thousands while eliminating every bit of friction associated with the process. 

In this panel discussion, we bring to you experiences of these early AI adopters and trend setters. Highly seasoned risk leaders will share their personal stories on how they are using AI to reduce friction, eliminate costs, and mitigate lending risks.  More importantly, they will share recipes on preparing for growth in the post vaccine world. 

Key takeaways:

  • Demystifying AI in credit through real experience sharing 

  • Roadmap to safely increasing approvals and automation

  • How to improve borrower experience

May 20, 2021


AI for credit decisions: A CRO perspective on accelerating growth and improving borrower experience


Pankaj Kulshreshtha, Scienaptic AI CEO
Jim Kasch, CU expert & Former CEO, DEFCU
Eric Steinhoff, EVP Client Impact

In the post-vaccine world, lenders are looking for opportunities to accelerate growth. Borrowers on the other hand expect instant and more personalized decisions.

There’s a massive opportunity to use AI-powered credit decisions and increase approval rates, deliver personalized decisions in milliseconds, and price loans more accurately.

Why? Because it is simply better.

Key takeaways:

  • Demystifying AI in credit, and what it means

  • Roadmap to safely increasing approvals and automation

  • How will this impact the borrower experience

Apr 15, 2021


SMB lending using AI: An opportunity within the chaos


Vinay Bhaskar, GM, Risk Solutions
Kirill Skok, Client Engagement Leader

SMBs have gone through an upheaval in the recent past. Only the "fittest" have survived, yet those who survived are in a critical need to manage change. Financial institutions have an opportunity to partner with SMBs, support their recovery, and position them for growth.

Key Takeaways:

  • Ways in which financial institutions can partner with SMBs to drive their growth

  • Innovations in AI-powered decisioning to help financial institutions assess risk and SMB's revenue potential more holistically

  • Practical applications of how lenders can incorporate existing data into their scorecards

  • Frameworks to improve credit tools and expand lending to SMBs

Apr 9, 2021

Fireside Chat

Embedding AI across the loan life cycle - a CEO perspective on accelerating growth and improving customer experience


Manish Jaiswal, CEO & MD, Magma Housing Finance
Pankaj Kulshreshtha, Scienaptic AI CEO

Key Takeaways:

  • Ensuring credit quality as approval volumes return to pre-COVID levels

  • Creating technologically intelligent journeys across loan life cycle to improve lending efficiency

  • Providing the best customer experience using AI

Feb 18, 2021


Lending in Unpredictable Times: Best practices to prepare lenders for a post-COVID world


Joydip Gupta, APAC Business Head

Feb 4, 2021


The Post-Vaccine World: Preparing for Growth using AI/ML


Eric Steinhoff, EVP Client Impact

Take advantage of the growth opportunities presented as we come out of the COVID-induced recession. The typical lender response to a black swan macro event is to slow marketing and tighten credit criteria. Opening back up often happens too slowly due to uncertainty with the credit outlook.

Nov 26, 2020


Lending in Unpredictable Times: Best practices to prepare lenders for a post-COVID world


Joydip Gupta, APAC Business Head

Nov 18, 2020


Rethinking lending for 2021: Finding stable borrowers in an era of high FICO scores and rising delinquencies


Vinay Bhaskar, GM, Risk Solutions

Nov 3, 2020


Lending and Risk management: Best practices to prepare lenders for a post-COVID world


Joydip Gupta, APAC Business Head

Oct 14, 2020


Measuring and managing stress in lending portfolios -Perspectives from CROs on sustainable resilience


Pankaj Kulshreshtha, CEO
Eric Steinhoff, EVP Client Impact
Vinay Bhaskar, GM, Risk Solutions

Aug 13, 2020

e-Fireside Chat

Building Resilience: Reviving auto lending originations and collection strategies


Eric Steinhoff, EVP Client Impact
Seth Rubinstein, Head of Decision Sciences

Jun 18, 2020


Building Portfolio Resilience: Adjusting your risk models for bias created by the COVID recession.


Eric Steinhoff, EVP Client Impact

May 12, 2020


Credit Management and account treatment in apost-COVID world.


Eric Steinhoff, EVP Client Impact

Apr 14, 2020


Recession-Proof Lending for Credit Unions


Kirill Skok, Client Engagement Leader

Feb 27, 2020


The future of SMB lending: How AI would drive growth and manage credit risk


Vinay Bhaskar, GM, Risk Solutions

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