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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. 

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

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

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 

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

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