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المحتوى المقدم من Leaders in Lending. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Leaders in Lending أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
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المدونة الصوتية تستحق الاستماع
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Curated Questions: Conversations Celebrating the Power of Questions!
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Episode Notes [03:47] Seth's Early Understanding of Questions [04:33] The Power of Questions [05:25] Building Relationships Through Questions [06:41] This is Strategy: Focus on Questions [10:21] Gamifying Questions [11:34] Conversations as Infinite Games [15:32] Creating Tension with Questions [20:46] Effective Questioning Techniques [23:21] Empathy and Engagement [34:33] Strategy and Culture [35:22] Microsoft's Transformation [36:00] Global Perspectives on Questions [39:39] Caring in a Challenging World Resources Mentioned The Dip by Seth Godin Linchpin by Seth Godin Purple Cow by Seth Godin Tribes by Seth Godin This Is Marketing by Seth Godin The Carbon Almanac This is Strategy by Seth Godin Seth's Blog What Does it Sound Like When You Change Your Mind? by Seth Godin Value Creation Masterclass by Seth Godin on Udemy The Strategy Deck by Seth Godin Taylor Swift Jimmy Smith Jimmy Smith Curated Questions Episode Supercuts Priya Parker Techstars Satya Nadella Microsoft Steve Ballmer Acumen Jerry Colonna Unleashing the Idea Virus by Seth Godin Tim Ferriss podcast with Seth Godin Seth Godin website Beauty Pill Producer Ben Ford Questions Asked When did you first understand the power of questions? What do you do to get under the layer to really get down to those lower levels? Is it just follow-up questions, mindset, worldview, and how that works for you? How'd you get this job anyway? What are things like around here? What did your boss do before they were your boss? Wow did you end up with this job? Why are questions such a big part of This is Strategy? If you had to charge ten times as much as you charge now, what would you do differently? If it had to be free, what would you do differently? Who's it for, and what's it for? What is the change we seek to make? How did you choose the questions for The Strategy Deck? How big is our circle of us? How many people do I care about? Is the change we're making contagious? Are there other ways to gamify the use of questions? Any other thoughts on how questions might be gamified? How do we play games with other people where we're aware of what it would be for them to win and for us to win? What is it that you're challenged by? What is it that you want to share? What is it that you're afraid of? If there isn't a change, then why are we wasting our time? Can you define tension? What kind of haircut do you want? How long has it been since your last haircut? How might one think about intentionally creating that question? What factors should someone think about as they use questions to create tension? How was school today? What is the kind of interaction I'm hoping for over time? How do I ask a different sort of question that over time will be answered with how was school today? Were there any easy questions on your math homework? Did anything good happen at school today? What tension am I here to create? What wrong questions continue to be asked? What temperature is it outside? When the person you could have been meets the person you are becoming, is it going to be a cause for celebration or heartbreak? What are the questions we're going to ask each other? What was life like at the dinner table when you were growing up? What are we really trying to accomplish? How do you have this cogent two sentence explanation of what you do? How many clicks can we get per visit? What would happen if there was a webpage that was designed to get you to leave? What were the questions that were being asked by people in authority at Yahoo in 1999? How did the stock do today? Is anything broken? What can you do today that will make the stock go up tomorrow? What are risks worth taking? What are we doing that might not work but that supports our mission? What was the last thing you did that didn't work, and what did we learn from it? What have we done to so delight our core customers that they're telling other people? How has your international circle informed your life of questions? What do I believe that other people don't believe? What do I see that other people don't see? What do I take for granted that other people don't take for granted? What would blank do? What would Bob do? What would Jill do? What would Susan do? What happened to them? What system are they in that made them decide that that was the right thing to do? And then how do we change the system? How given the state of the world, do you manage to continue to care as much as you do? Do you walk to school or take your lunch? If you all can only care if things are going well, then what does that mean about caring? Should I have spent the last 50 years curled up in a ball? How do we go to the foundation and create community action?…
Leveraging Predictive Analytics to Expand Relationships
Manage episode 371140123 series 2928307
المحتوى المقدم من Leaders in Lending. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Leaders in Lending أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
From his position as Product Manager at Umpqua Bank, Ben joins us to shed some light on the challenges and benefits of cross-pollinating data and technology, tailoring services to meet unique needs, exploring alternative credit scoring methods and automation, and more.
In today's rapidly evolving digital landscapes, finding a sustainable balance between human interaction and digital automation in lending is paramount.
Join us as we discuss:
…
continue reading
In today's rapidly evolving digital landscapes, finding a sustainable balance between human interaction and digital automation in lending is paramount.
Join us as we discuss:
- Navigating interest rate sensitivity and the benefits of data cross-pollination
- How Wealth Management Groups help keep operations customer-centric
- Why automation needs a balanced level of human interaction
163 حلقات
Manage episode 371140123 series 2928307
المحتوى المقدم من Leaders in Lending. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Leaders in Lending أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
From his position as Product Manager at Umpqua Bank, Ben joins us to shed some light on the challenges and benefits of cross-pollinating data and technology, tailoring services to meet unique needs, exploring alternative credit scoring methods and automation, and more.
In today's rapidly evolving digital landscapes, finding a sustainable balance between human interaction and digital automation in lending is paramount.
Join us as we discuss:
…
continue reading
In today's rapidly evolving digital landscapes, finding a sustainable balance between human interaction and digital automation in lending is paramount.
Join us as we discuss:
- Navigating interest rate sensitivity and the benefits of data cross-pollination
- How Wealth Management Groups help keep operations customer-centric
- Why automation needs a balanced level of human interaction
163 حلقات
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1 Capturing Prime Members in 2025 and Beyond 38:24
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As economic conditions shift, financial institutions must adapt their lending strategies to balance growth, risk, and liquidity. A “Slow and Grow” approach is emerging as a sustainable way to navigate today’s market while expanding financial services. This week, host Barry Roach welcomes Michelle Goeppner , Vice President of Consumer Lending & Product Strategy at Vantage West Credit Union , to explore how lending programs are evolving post-COVID. They discuss the role of AI-powered underwriting, flexible loan programs, and the importance of internal alignment in driving loan growth. Plus, they dive into how financial institutions are expanding their reach beyond state borders while enhancing community impact. Join us as we discuss: How AI-driven lending programs help manage risk, return, and volume Strategies for deposit growth, cross-selling, and member onboarding The financial wellness programs turning borrowers into savers Innovative mortgage solutions tackling housing affordability…
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1 Niche Markets, High Impact: Leading the Charge in Early-Stage Credit Facilities 42:09
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In episode re-air, host Lynn Sautter Beal talks with Jillian Murrish , CEO of Pier Asset Management , about the waves she and her firm are making in the market — targeting less liquid and underserved areas while focusing on secondary markets and early-stage credit facilities. Jillian shares her journey from working in online real estate to co-founding Pier Asset Management, while offering valuable lessons on flexibility, operational ease, and evolving borrowing bases for early-stage originators along the way. Join us as we discuss: Why early-stage originators should avoid using expensive equity capital to fund loans The change in defining secured vs. unsecured lending How targeting less liquid areas can help generate alpha and deliver better returns for investors The role of privacy, reputational risk, and the regulatory environment play in decision-making in evaluating potential partners and deals…
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1 Credit Unions in Transition: Evolving Mortgage Origination, Auto Lending, and AI Futures 31:07
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In today’s episode, we dive into the dynamic world of financial services, specifically auto and mortgage lending. Join host Drew Megrey as he speaks with Rick Moore, the Chief Lending Officer at Maine Savings Credit Union . With nearly 39 years of experience under his belt, Rick provides invaluable insights into the evolving mortgage landscape, tackling challenges like rising interest rates and soaring home prices. He’ll also share how financial institutions are pivoting with innovative strategies in auto lending and unsecured loans to navigate these turbulent times. Plus, we’ll explore Rick’s personal tech preferences and his take on the future of AI advancements in finance. Join us as we discuss: The potential of AI to transform the industry and pave the way for a four-day workweek Why rising home prices and high interest rates have shifted mortgage production. How Maine Savings Credit Union enhances auto and unsecured loan programs while exploring cutting-edge solutions.…
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1 Open Banking and the Road Ahead: Post-Election Insights 43:23
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As technology evolves, open banking is reshaping how we manage and share financial data, creating exciting opportunities for innovation and better services. In today’s episode, host Matt Snow welcomes Armen Meyer, Co-founder of the American Fintech Council, to explore the world of open banking. Together, they discuss the opportunities and challenges this transformation brings, from balancing innovation with preventing monopolies to what’s next for consumer protection and data privacy. Armen also shares some key post-election insights, exploring how recent political shifts may impact financial regulations, CFPB oversight, and potential rule changes that could shape the future of the industry. Join us as we discuss: The role of balanced regulation in fostering innovation in financial services. How open banking promotes transparency, and the challenges smaller banks face. Key political and legal developments that could influence fintech regulations and the CFPB moving forward.…
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1 Evolving the Playbook: Tech, AI, and Customer-Centric Lending 38:39
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In banking, yesterday’s touchdowns don’t win today’s games. A great product is just the start — constant evolution is key to meeting ever-changing customer needs. In today’s episode, host Matt Snow sits down with Rhett Roberts , CEO and Co-Founder of LoanPro, for an in-depth look at the modern financial landscape. Rhett shares key insights from the recent Money 2020 event in Las Vegas, covering everything from AI’s growing role in financial services to the critical shift toward customer-centric lending. Together, they explore how small lenders can embrace tech modernization, the importance of proactive customer service, and the far-reaching effects of regulatory changes on the industry. Join us as we discuss: Why small lenders should prioritize exceptional, cost-effective customer experiences over geographical reach. How AI and generative tech are transforming financial services, enhancing efficiency and compliance beyond traditional CRMs. The urgent need for financial institutions to modernize their tech to meet customer expectations and leverage open banking.…
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1 From Polls to Partnerships: Election Season and the NCUA’s Role in Modern Lending 33:40
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In a world where technology rapidly reshapes financial systems, credit unions must innovate to stay ahead. In this episode, host Matt Snow chats with Nat Hoopes, Head of Public Policy at Upstart, as they navigate the fintech landscape and highlight the importance of actionable insights from industry professionals. They discuss the evolving role of the NCUA, the need for diversified products in credit unions, and share compelling anecdotes about Synapse's bankruptcy and Upstart's partnerships with over 100 institutions. Together, they explore the delicate balance between partnership and regulation, the transformative power of AI in lending, and the challenges and opportunities in this dynamic sector. Join us as we discuss: Why insights from real industry professionals outweigh the advice of self-proclaimed "gurus". How AI enhances credit access and performance compared to traditional methods. The importance of partnerships between credit unions and fintechs to offer diverse products and maintain competitiveness amid regulatory scrutiny and technological changes.…
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1 Lessons Learned: Equipping Businesses for Future Crises Post-Pandemic 30:01
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In the face of unprecedented challenges brought on by the COVID-19 pandemic, small businesses across the nation have demonstrated remarkable resilience and ingenuity, adapting to new realities and discovering innovative ways to survive. On today's episode, host Matt Snow is joined by special guest, Chris Pilkerton, the former head of the Small Business Administration and author of " Plandemic. " Chris shares his unique insights from inside the SBA and the White House, detailing how the Paycheck Protection Program was crafted and executed at lightning speed. We’ll dive into his book, which explores the challenges and triumphs faced by small businesses during the pandemic. Additionally, we’ll discuss the pivotal role of community development financial institutions (CDFIs), the decision-making processes behind massive economic stimulus measures, and the crucial lessons learned for future crisis preparedness. Join us as we discuss: How the Paycheck Protection Program (PPP) sustained jobs and health benefits during the pandemic, highlighting the necessity for adaptable government interventions. Why CDFIs like the Accion Opportunity Fund were vital in providing financial assistance to underserved communities, highlighting the need for inclusive support systems. The importance of pre-written legislation and streamlined processes for swift, effective responses to future crises.…
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1 Rising Above the Liquidity Crisis: Navigating Interest Rate Changes with Strategic Oversight 32:47
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Can credit unions turn economic setbacks into stepping stones for success? Today, we sit down with Dustin Holmberg , Chief Revenue and Lending Officer at Clearview Federal Credit Union . With $2 billion in assets and a vibrant community of 120,000 members, Clearview is not only surviving but thriving in today’s financial landscape. In this episode, we explore the transformative power of AI, innovative lending strategies, and the critical role of community engagement. Dustin also shares his personal journey and insights on adaptability, revealing what it truly takes to lead in the credit union industry. Join us as we discuss: How Clearview Federal Credit Union manages interest rate changes and liquidity crises through strategic oversight of margins, CD rates, and loan growth. The role of AI and Robotic Process Automation (RPA) in boosting efficiency in underwriting and automating repetitive tasks, empowering employees. Clearview's "digital-first" approach and its expansion of physical branches to enhance community engagement and member convenience.…
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1 From Ledgers to Algorithms: Revolutionizing Financial Data 34:44
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Ultimately, providing the best financial advice or service is all about having the right data in the right place at the right time. This week, host Matt Snow speaks with Chris Gifford , Chief Data and Analytics Officer at USAA Federal Savings Bank , about the evolution of data analytics within the financial industry—as well as the importance of having a strong data foundation. Chris also shares insights on driving innovation through real-world problem-solving, the democratization of data, and the need to break down data silos for seamless integration. Join us as we discuss: The democratization of deep data analysis and its effects What factors organizations should consider when deciding whether to build, buy, or partner for technological solutions Using timely data analysis to give personalized advice to members Strategies for fostering a culture of innovation within data analytics teams…
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1 Banking on Community: Meeting the Needs of Underserved Consumers 30:15
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From having a child to starting a business, every major life decision comes with financial implications—and with those come concerns and challenges. But even concerns come in all different shapes and sizes, so building trust as a bank means having an in-depth and empathetic understanding of the community they’re operating in. This week, host Matt Snow speaks with Eric Fiala , Chief Corporate Responsibility Officer at KeyBank and CEO at KeyBank Foundation . Eric delves into the evolving role (and perception) of banks as agents of positive change within their communities. He discusses how banks can go beyond traditional services by providing financial education and involving community leaders to better understand and address the specific needs of underserved areas. Eric shares practical steps that banks can take to truly invest in a community, rather than just operating within one. Discussed in this episode: The need to create new homeowners and help build generational wealth. Gathering information about community needs through outreach and engagement initiatives How minority depository institutions (MDIs) and community development financial institutions (CDFIs) help underserved communities Current trends in financial education…
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1 Small Steps, Big Gains: Scaling Success with AI in Credit Unions in 2024 27:06
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Like many institutions, credit unions can't afford to be left behind in the race to adapt to the new AI-driven technological landscape. But successfully and responsibly leveraging AI goes beyond adopting AI solutions for the sake of checking off a box—it involves identifying opportunities to collaborate with seasoned partners who can help solve the problems that AI is equipped to solve. This week’s episode features a conversation with Upstart Senior Account Managers Barry Roach and Drew Megrey , which originally took place on an episode of The CU Lab. Barry and Drew outline the crucial role of a strong digital and AI strategy in helping credit unions tackle issues like liquidity restraints and regulatory hurdles—and they explore how strategic AI adoption can help credit unions not just keep up, but lead the way. Join us as we discuss: The importance of transparency and education in forming successful partnerships between AI providers and credit unions Starting small and involving all teams for successful scaling The benefits of AI in underwriting, including better risk prediction and higher approval rates How Upstart’s "Recognized Customer Personalization" feature helps credit unions identify potential borrowers more efficiently…
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1 Adapting to Turbulence through Fintech Innovations 31:39
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Things need to change, oftentimes more than we’d like. This week, host Matt Snow is joined by Adam Goller , EVP and Head of Fintech Banking at Cross River Bank , for a conversation about transformation and innovation within fintech in the face of turbulent times and shifting preferences. Adam shares his insights on how smart strategy, rapidly evolving technology, and—most importantly—a willingness to adapt, is resulting in creative solutions for today and tomorrow’s challenges. Join us as we discuss: The shifts in entrepreneurship and banking during global events like the 2008 Financial Crisis and Covid-19 Why user experience solutions need to accommodate shorter attention spans The challenges of integrating AI in heavily regulated sectors like banking How the expanded skill sets of today’s students impacts what technical knowledge is required in finance…
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1 The CFPB, Financial Regulation and Generative AI… Oh My! 33:35
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Although the US Supreme Court recently upheld the CFPB’s funding system—and removed a major threat to the agency’s ability to regulate financial products and services—the future of financial regulation is far from settled or certain. On today’s episode, host Matt Snow speaks with Armen Meyer , Co-Founder of the American Fintech Council , about the implications of the CFPB ruling on the financial industry and other regulatory and government institutions. Matt and Armen also explore the growth of the FinTech industry, the role of regulatory technology, and the potential risks and benefits of generative AI. Discussed in this episode: Why finding a middle ground between pragmatism and aspiration is essential for regulatory stability The relationship between rising interest rates and the decline in bond prices How open banking rules facilitate the free flow of data and enhance competition in the banking sector The disparity in tech investment between big banks and small regional banks…
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1 Cashing in on AI: Streamlining Bank Operations 34:07
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Successful AI integration isn’t just about saving time or cutting costs—it’s about thoughtfully implementing the technology into areas where it can do the most good for the company and the customer. On today’s episode, host Matt Snow speaks with Will Robinson , CEO at Encapture about AI’s application in financial institutions. Will has seen first-hand the challenges of legacy processes and resistance to change, and he shares specific use cases for successful AI implementation—along with the importance of partnering with experienced vendors. Join us as we discuss: Understanding and assessing risks and trade-offs when considering AI applications The role of regulation and transparency in AI interactions How to navigate the “build vs. buy” question The process of identifying repetitive, rule-based tasks for automation before integrating AI…
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1 The Buckeye Boom: Ohio’s Growth in Tech 37:37
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When it comes to the tech revolution, it’s not all about the coasts or the biggest cities. Although areas like Silicon Valley continue to dominate the headlines and the public imagination, there’s an undercurrent of tech growth and innovation in “Heartland” and “Rust Belt” areas like Ohio. This week, host Lynn Sautter Beal talks with Chris Berry , President and CEO of OhioX , about the vibrant growth of Ohio's tech industry. Chris explains the industry’s historical evolution in the state, its current challenges, and significant breakthrough investments from major companies like Intel and Google. Discussed in this episode: What strategic leadership and groundwork efforts led to multibillion-dollar investments from Fortune 500 companies The uniquely collaborative nature of Ohio’s tech industry How states like Ohio can leverage their geography to further develop their tech industry Initiatives to expose K-12 students in Ohio to skills and careers in tech…
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1 Niche Markets, High Impact: Leading the Charge in Early-Stage Credit Facilities 42:09
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In today’s episode, host Lynn Sautter Beal talks with Jillian Murrish , CEO of Pier Asset Management , about the waves she and her firm are making in the market — targeting less liquid and underserved areas while focusing on secondary markets and early-stage credit facilities. Jillian shares her journey from working in online real estate to co-founding Pier Asset Management, while offering valuable lessons on flexibility, operational ease, and evolving borrowing bases for early-stage originators along the way. Join us as we discuss: Why early-stage originators should avoid using expensive equity capital to fund loans The change in defining secured vs. unsecured lending How targeting less liquid areas can help generate alpha and deliver better returns for investors The role of privacy, reputational risk, and the regulatory environment play in decision-making in evaluating potential partners and deals…
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1 Shaping Pragmatic Regulations for FinTech Innovation 48:52
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There’s no one-size-fits-all approach to regulation in the world of financial services. Sometimes it’s a matter of encouraging fintech companies to engage in responsible behaviors—and other times it’s a matter of allowing responsible FinTech companies to continue operating responsibly without regulatory burdens. This week’s host, Lynn Sautter Beal, is joined by Phil Goldfeder , CEO at American Fintech Council , and former New York State Assembly member. Phil has a wealth of experience and knowledge in the realm of regulatory policy—and all of it is informed by the idea of practical and realistic progress that doesn’t get in the way of responsible financial service providers doing their work, or get in the way of people receiving the financial services they need and deserve. Join us as we discuss: How federal regulatory structures can evolve to support FinTech advancements The unintended consequences of “reactionary regulation” Key efforts in establishing industry standards without regulatory mandates The value of working groups and listening sessions involving various players in FinTech…
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1 Navigating the Data Race in Financial Services 32:34
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For financial service professionals, it’s important to meet the needs of their customers and clients. But it’s equally important that they ensure they’re leaving no stone unturned when it comes to harnessing the latest technological solutions that can make their job — and the consumer’s experience — as frictionless as possible. This week, host Matt Snow is joined by Greg Blausey , Senior Director of Banking Industry Solutions & Strategy at Salesforce , and Amir Madjlessi , Managing Director and Banking Industry Advisor at Salesforce . Greg and Amir bring a commitment to (and insights on) streamlining processes within financial institutions to better serve the customer, and allow financial professionals to focus on what they do best. Discussed in this episode: The importance of fresh and representative data How finance can learn from the world of retail when it comes to the onboarding experience What it looks like to take an outcome-based approach in adopting new technologies Balancing using data usage for personalized service and addressing privacy concerns and regulations…
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1 Under Inflationary Pressure: Reshaping Strategy 19:07
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On today’s episode, host Lynn Sautter Beal is joined by Matt Hrna , Senior Vice President at Regions Bank to discuss inflationary pressures and market volatility impacting banks today. Leveraging over a decade of expertise and experience, Matt covers a wide range of challenges and opportunities faced by players throughout the financial industry. Although economic uncertainty continues to abound, there are systems and practices lenders can take advantage of to mitigate risk while adopting innovative solutions—all of which Matt helps us uncover. Join us as we discuss: Consumers turning to Home Equity Lines of Credit (HELOCs) to address various financial needs The impact of the student loan repayment resumption on credit behavior Why all lenders should develop a “recession playbook” and remain proactive amid uncertainty The importance of maintaining primacy and deepening relationships with existing customers…
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1 The Fairness Frontline: Insights in Fair & Responsible Banking 26:44
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For many in the financial industry, it’s not hard to see banks and financial institutions committed to providing services that are both effective AND ethical. But all that work is for nothing if fair and responsible banking practices aren’t carried out successfully. Today, host Lynn Sautter Beal speaks with Lindsay Yousif (Executive Director of Compliance at All y) and Nick Roesler (Fair and Responsible Banking Officer at U.S. Bank ). In their roles as chairs of the CBA’s Fair and Responsible Banking Committee, Lindsay and Nick have done plenty of work and acquired plenty of knowledge on how to proactively and collaboratively address opportunities and concerns in the realm of fair and responsible banking. Join us as we discuss: How to leverage a strong network of banks for guidance and best practices The challenges posed by non-prescriptive guidances and how financial institutions can navigate them Hiring and retaining talent in fair and responsible banking…
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1 No Place Like Home Equity: 2024 Lending Insights 26:07
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This week, host Matt Snow talks with Mike Shepard , Senior VP - Head of Consumer Lending Partnerships at U.S. Bank , about trends, best practices, and concerns within the world of home equity lending. 2022 was a strong year for the industry despite the upward trajectory of interest rates, and homeowners are continuing to leverage home equity for purposes like debt consolidation and home improvement projects. Still, the industry remains in flux — with regulatory developments, consumer sentiment, and tech advancements shaping the scope of best practices. Leveraging his years of experience in the industry, as well as his role as chair of the Home Equity Lending Committee, Mike provides plenty of actionable insights for lenders and consumers alike. Join Matt and Mike as they discuss: The main challenges of today’s home equity lending market What factors are contributing to Matt’s sense of cautious optimism regarding home values The vital role of collaboration within institutions like the Home Equity Lending Committee. How the uses of home equity funds have shifted over the years…
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1 Launching Upstart’s AI Certification Course 15:59
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AI is top of mind for most financial services organizations, but the question of, 'where to begin?' remains. Upstart's new AI in Financial Services Professional Certification course is designed to give banking professionals a firm grounding for the potential of AI in financial services —with a particular focus on credit—as well as practical tools to help them begin the journey of applying AI inside their organizations. This week, host Lynn Sautter Beal is joined by Jeff Keltner , Startup Advisor at Upstart — and former “Leaders in Lending” host — to talk about Upstart’s AI in Financial Services Professional Certification course . Discussed in this episode: Why Upstart decided to develop the course — and who it’s for The content and structure of the course modules Process of developing the course (from writing scripts to recording lessons) The importance of empowering financial services professionals with knowledge of AI tailored to their field Register for the course, which is free for a limited time: https://live-upstart-ms.pantheonsite.io/ai-certification/…
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1 2024 Auto Trends: Financing, Sales, and Consumer Behavior 34:22
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On today’s episode, host Matt Snow is joined by Melinda Zabritski , Sr. Director at Experian Automotive , and Mark Pregman , Head of Credit Operations at USAA . Whether due to rapid technological innovations (like the advent of electric vehicles) or economic factors (everything from lending rates to unemployment), the landscape of auto sales and lending is shifting more rapidly than ever. With their collective experience and expertise in lending and the auto market, Mark and Melinda are perfectly suited to help us make sense of this current moment — to give us a sense of where we may be heading. Discussed this week: Why concerns surrounding affordability persist, despite the rise in average loan amounts The challenges hindering EV adoption How limited inventory impacts affects loan-to-value ratios and shapes consumer purchasing patterns Growing delinquency rates, and what they may be attributed to…
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1 Charting the Economic Horizon: Resiliency, Risk and Credit Trends 29:16
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To reliably forecast what the future of finance the economy holds, you must be able to assess the current moment. This week, host Lynn Sautter Beal speaks with Joseph Mayans , Chief Economist at Experian , who shares his economic and credit outlook for the year ahead in 2024, along with consumer credit trends and potential risk areas. Join us as we discuss: Key factors shaping a more optimistic 2024 compared to 2023 The dichotomy between a strong economy and labor market with slow credit growth Consumer spending and increased delinquencies The housing market and potential risks on the horizon…
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1 Regulation Reimagined: Banking Beyond Partisanship 32:45
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This week, hosts Lynn Sautter Beal and Matt Snow are joined by Kelvin Chen , Senior Executive VP, Head of Policy at the Consumer Bankers Association . Kelvin shares his assessment of the current landscape of financial regulation, innovation, and advocacy. As someone who has worked extensively in both the private and public sectors (including the CFPB), Kelvin has no shortage of expertise and what does (and doesn’t) make for an effective approach to financial regulation that centers the consumer experience and a need for innovation. Join us as we discuss: How politicization of financial regulation has affected the accuracy of facts presented by key players The broad impact of the recent Executive Order on AI Why banks should ramp up their initiatives to educate the public and build trust The current regulatory squeeze on regional banks…
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1 Navigating Global and Personal Financial Crises with FinTech 33:57
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With periods of financial collapse and upheaval serving as the catalyst, movers and shakers in the world of digital finance solutions have navigated a host of challenges — all while tending to the concerns of regulators and the needs of consumers alike. This week, our host Lynn Sautter Beal is joined by Penny Lee , President and CEO at Financial Technology Association to break down all things fintech and how it intersects with regulatory changes, financial crises, and innovative product development. Penny brings a wealth of experience in (and hard-won knowledge about) politics, policy, and investing, which allows her to provide nuanced insights into how these realms impact one another. Join Lynn and Penny as they discuss: The benefits of fintech companies positively engaging with regulators Why earned wage access plays such a large role in financial health The evolution of Buy Now Pay Later (BNPL) products and services…
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1 Automated Excellence and Adaptive Automotive 27:03
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Joining our host Drew Megrey is Jared Dryer , VP of Consumer Lending and Centralized Deposits at Westerra Credit Union . Jared brings a passion for streamlining processes for employees and consumers alike—and he shares insights from his experience in building and implementing an automated decision engine and rethinking the process for underwriting adaptive auto loans. Discussed in this episode: The challenges of rebuilding a consumer lending program What factors influence the loan-to-value (LTD) ratio Underwriting adaptive auto loans to serve the community Predictions about blockchain’s impact on the banking industry…
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1 Where Corporate Growth and Community Impact Collide 36:59
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This week, our host Barry Roach is joined by Nathan Cox , CEO of InRoads Credit Union , to discuss his transition from banking to the world of credit unions, as well as the stakeholder-focused culture and societal impact of credit unions. Nathan’s position and insights have been hard-won, as he’s put no shortage of work into bettering himself—from his days as a walk-on D1 basketball player to an MBA student seeking to address any and all shortcomings. It’s this same level of insightfulness and dedication to growth and personal betterment that Nathan brings to his vision for improved consumer experience. Barry and Nathan discuss: The importance of involving employees in decision-making Why organizations should prioritize member experience and stakeholder value over shareholder growth The relationship between financial literacy and economic development…
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1 Data Ownership and Industry Collaboration in FinTech 21:09
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How will responsible data practices and blockchain technology shape the financial technology landscape this year? Join our host, Matt Snow and guest Sanjib Kalita , Head of Industry at Fintech Meetup , as they explore key themes such as data technology, blockchain, and the importance of networking in the industry's evolution. From personal experiences with bad data to the potential of blockchain for data ownership, listeners gain valuable insights into the challenges and opportunities shaping the future of financial technology. Discussed in this episode: Responsible data practices and the need for consumer engagement in the credit industry The potential of blockchain technology for decentralizing data and building trust in credit decisions The significance of networking and collaboration in the FinTech industry for startups, partnerships, and staying informed…
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1 From Europe to the US: Cultural and Market Nuances in FinTech 31:20
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Joining our host Ed Walters this week is Simon Darchis, Head of Partnerships at Finwise Bank , to discuss his trajectory in the financial services sector from Europe to the US. With this multi-cultural background in finance, Simon explains the intricacies of fintech, unraveling the cultural and regulatory differences that shape these distinct markets. Ed and Simon discuss: The pivotal role of adaptability in navigating the evolving landscape of financial services Insights into the contrasting fintech practices between America and Europe, emphasizing the significance of cultural understanding in the industry The critical importance of compliance in fintech partnerships…
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1 Going Fee-Free: Reimagining Member Satisfaction 32:19
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Stacy Armijo, the Chief Experience Officer at Amplify Credit Union, joins our host Drew Megrey to share her path to credit union leadership and discusses how Amplify has made strides to prioritize their member experience, including going fee-free on checking and savings accounts. Discussed in this episode: Diversity in product development and the importance of aligning products with the needs of diverse customer demographics. The strategic move towards fee-free banking, including the elimination of overdraft fees, prioritizing fairness, equity, and customer satisfaction. Technological evolution and its impact on industry adaptation, from open banking trends to the integration of virtual reality in financial experiences.…
The new year always brings change, and Leaders in Lending is no exception. Our long-time host, Jeff Keltner, is taking on new opportunities, but he is excited to pass the mic to a wonderful group of new co-hosts for this new era of Leaders in Lending! Moving into the host seat we have 5 co-hosts joining us, all with deep expertise in the current lending climate. Edward Walters , VP account management at Upstart Matt Snow , Head of solutions consulting at Upstart Barry Roach , Senior Account Manager at Upstart Drew Megrey , Senior Account Manager at Upstart Lynn Sautter Beal , Vice President of Implementation and Success at Upstart Please join us to hear from each their perspective on the current economic outlook and what excites them for the year ahead.…
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1 Fifth-Gen Wisdom: Community Bank FinTech Partnerships 32:00
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2023 has been a big year for the advancement of AI across all industries. But how have these changes helped community banks scale and improve their lending portfolios? And how has taking that leap to partner with FinTechs been transformative? Bob Fisher , president and CEO of Tioga Bank , is a fifth generation community banker who believes incorporating partnerships to drive innovation is the best path forward for small banks. He joins Jeff to get into the specifics on what has worked (and what hasn’t) and why collaboration with FinTechs might not exactly be a risk, but a necessity. They discuss: The burgeoning landscape of community banking and strategic partnerships with fintechs Insights into decision-making, risk mitigation, and the challenges of navigating failed collaborations The intersection of financial innovation, AI, and community connection- taking on the role of charitable foundations in the industry…
Who would be bold enough to start a bank during a recession? Neil Stevens , President and CEO at Oconee State Bank , and his team were, and he has lessons to share on how the constraints actually helped to build the business. In this episode he reflects on the pivotal moment of launching a new bank during the 2007 recession. The entrepreneurial spirit that fueled this risky move has contributed to the institution's resilience and shaped a strong organizational culture. He also dissects how the unique model of community engagement through a foundation helps to balance high standards with effective leadership. Jeff and Neil discuss: Leveraging opportunities for banking by being more entrepreneurial (how a focus on the construction industry powered them through the pandemic Insights into building and maintaining a positive organizational culture The unique model of community engagement and effective charitable giving via a foundation supporting over 50 organizations in local communities…
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1 Cultivating Diversity: Innovative Strategies for Credit Unions 32:56
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With the right mix of innovation and growth, credit unions can prioritize community, culture, and informed decision-making in serving diverse markets. Corlinda Wooden , SVP/Chief Retail Officer at Unitus Community Credit Union , discusses the development and execution of their comprehensive strategic plan aimed at serving diverse markets. Driven by passionate leadership, their approach emphasizes authentic community engagement. Leveraging data insights, translation services, and strategic partnerships, the credit union tailored their offerings to meet the specific needs of their members. Join us as we discuss: How Unitus Credit Union developed a three-year strategy targeting the Hispanic community, founded on trust-building and authenticity Understanding how data analytics guides growth opportunities and can shape a credit union's product offerings How a combination of strategic partnerships, employee involvement, and the integration of AI brought success to the credit union's lending program…
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1 Cognitive AI for Transformative Customer Service 35:51
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AI is not inherently intelligent, but do we need our computers and machines to think like us? Some might be reluctant to test the boundaries of Generative AI intelligence, but Peter Voss , CEO & Chief Scientist at Aigo.ai , has spent his career figuring out how to build software that has common sense and can reason. He sees a distinct need in business for cognitive AI to go beyond what a programmer can dictate so that technology is anticipating, and solving, real-world problems efficiently. Businesses stand to dramatically reduce the cost of goods and services by having a lot more things automated- particularly banks and other businesses with vast customer facing workforces. Join Jeff and Peter as they discuss: The capabilities and limitations of AI intelligence models in customer service The necessity of embracing cognitive AI for achieving human-like intelligence The transformative potential of advanced chatbot technology for Fintechs…
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1 High-Touch Service in Changing Commercial Lending Tech 44:27
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Is your bank adapting to evolving credit demands? Banks and private lenders have been slow to adopt technology, but with shifting demands for credit products in both consumer and business markets, the imperative to offer a diverse portfolio of lending products is higher than ever. Michael Barnett , Founder and CEO at Loanspark , shares how banks are leveraging automation and the innovative ways technology is streamlining processes and increasing efficiency in the commercial lending landscape. Join us as we discuss: The impact of customer preferences on the lending process The role of technology in high-touch vs. low-touch communication Key practices and insights for improving customer service…
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1 Synchronizing Values and Operations for an Aligned Brand 38:58
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Your home page highlights your bank’s main points of focus — are you conveying the right message? Whether it be blog posts serving to inform and educate the community or new lines of products available for sale, your customers can get a grasp on what is important to you very quickly. If your homepage creates an incomplete picture of your business, it may be time for a brand refresh. Grace Bruins , Marketing Officer at Horicon Bank , joins the podcast after recently working on a massive brand refresh with critical insights for getting your message across the right way. Join us as we discuss: The three core principles of a successful brand refresh Enhancing communications and transparency for a cohesive brand image The importance of embracing collaboration or competition with FinTech companies…
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1 Approaching Community Banking Through First Principles 37:36
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For a community bank to connect with today’s clients and the clients of the future, they must be at the forefront of technology. Darryl Caffee , SVP, Director of Retail Lending at Webster Five found his way into the banking industry through law. His unique perspective and experience have allowed him to take non-traditional approaches to community, business and designing lending solutions. Darryl joins us to share how and why today’s smaller and community banks need to embrace a larger lending mentality to succeed in the marketplace. Join us as we discuss: Empathy as an innovation driver and how understanding diverse perspectives is a key to growth The importance of embracing a culture of adaptability and evolution Leveraging data to make informed decisions and retain customer-centricity…
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1 Combating Financial Fraud: Fintech’s Game-Changing Role 40:29
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For so long, new tech has been utilized by fraud artists, costing many unsuspecting victims countless dollars. Now, AI tools and strong fintech partnerships could be used to stop fraud in its tracks. With quickly evolving innovations, financial institutions must be at the forefront of tech. Kyle Hauptman , Vice Chairman at NCUA shares his views on the changes facing the industry and how they can be beneficial for everyone. Join us as we discuss: Adapt or close: staying relevant in today’s tech-powered world The relationship between regulations and fintech partnerships Preventing scams and fraud using revolutionary AI…
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1 Cross-selling Members for Long-term Growth 34:46
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Commonwealth Credit Union’s partnership with Upstart shows how fintech partnerships can unlock potential in financial institutions. Automation drives innovation, allowing for financial institutions to focus on what matters most: supporting their customers in their journey to stellar financial health. Our guest for this webinar, Jaynel Christensen , Chief Growth Officer at Commonwealth Credit Union , discusses the new opportunities being made available. Join us as we discuss: Innovative solutions made available through fintech partnerships Enhancing member experience with seamless digital and in-person strategies Cross-selling and financial literacy services…
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1 Reading the Auto & Housing Markets: Inflation & Deflation Trends 31:31
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The rising interest rate environment of the first half of 2023 have many fearful recession is on the horizon, but, simultaneously, there are some indicators that inflation is beginning to subside. Curt Long , Chief Economist and Vice President of Research at NAFCU , shares his expectations for the auto and housing markets as well as key economic signals to watch for, Join us as we discuss: Possible deflation ahead for auto and housing The Federal Reserve’s approach and the FIA-FIT Predictions and how to prepare for what is yet to come Want to learn more about how Upstart partners with banks? Check out this case study mentioned in the episode.…
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1 Partnering With a Fintech to Diversify in Challenging Times 59:21
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For community banks, scaling a personal loan portfolio profitably without introducing risk is a challenging feat – especially with the added constraint of limited resources. Through fintech partnerships, AI and automation, institutions are able to streamline a vast majority of banks' processes for creating a modern, all digital lending experience, analyzing risk factors and more. Even more, institutions are able to rapidly tailor their products to meet their customers’ needs. With the extraordinary amount of innovation recently in the financial universe, ensuring accurate reporting, regulatory compliance and transparent, trustworthy fintech partnerships can be a challenge. Julie Thurlow , President & CEO at Reading Cooperative Bank , and Phil Bryan , Chief Banking Officer at Reading Cooperative Bank , join us for a tell-all webinar where they cover these topics and more. Join us as we discuss: Tech, automation and AI: streamlining processes and tailoring products Building a successful, transparent fintech partnership Ensuring compliance in a tech-backed environment…
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1 How Innovation in Servicing Drives Loyalty 46:33
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Around 90% of a loan lifecycle and engagement happens in the world of servicing, but no one really talks about it. From getting approved to taking a loan through the final stage of closing an account, servicing matters for customer experience and loyalty, ultimately driving business outcomes. We’re joined by Matt Bivons , Founder & CEO at Canopy — an organization focused on helping lenders be better operators through their easily integrable loan management platform and cutting-edge suite of tools. Matt shares insights he’s gleaned from a myriad of experiences throughout a decade in FinTech to show exactly why servicing matters. Join us as we discuss: Canopy’s focus on exceptional customer service and deep expertise in student lending Call for adaptation and innovation to meet the needs of rapidly changing dynamics in FinTech Data migration and scalability: careful planning and gradual expansion…
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1 Leveraging Predictive Analytics to Expand Relationships 43:27
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From his position as Product Manager at Umpqua Bank , Ben joins us to shed some light on the challenges and benefits of cross-pollinating data and technology, tailoring services to meet unique needs, exploring alternative credit scoring methods and automation, and more. In today's rapidly evolving digital landscapes, finding a sustainable balance between human interaction and digital automation in lending is paramount. Join us as we discuss: Navigating interest rate sensitivity and the benefits of data cross-pollination How Wealth Management Groups help keep operations customer-centric Why automation needs a balanced level of human interaction…
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1 Adopting an Entrepreneurial Mindset in Banking 32:05
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After being robbed three times in two weeks as a teller, David Reiling took quite the interest in bank security. Now serving as the Chief Executive Officer, FinTech Leader, B Corp Advisor and Board Chair at Sunrise Banks , David joined the show to share invaluable expertise gained through years of operational experience ensuring security in every area of banking. Forming fintech partnerships can alleviate a host of difficulties plaguing banks, but banks must also ensure they have proper cybersecurity in place. Join us as we discuss: Cybersecurity, liquidity management, and bank collapses Fintech partnership risk management Community banking: creating long-term franchise value Want to learn more about how Upstart partners with banks? Check out this case study mentioned in the episode.…
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1 A Former NCUA Chairman’s Perspective on Innovation 38:05
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Credit scores determine where people live, where their kids go to school, what they drive and even where they work. Couple that with the fact that nearly half of minority households can not cover an emergency $400 expense. Rodney Hood , Eleventh Chairman and current Board Member of the National Credit Union Administration , made financial equality his mission. Fintech partnerships enable credit unions to extend credit access and provide financial literacy education services, ultimately creating a more prosperous future. Join us as we discuss: Financial Equality: A Civil Rights Issue Fintech Partnerships: Resource Redistribution Investing in the Future…
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1 Trust and Optimization During Volatile Times 49:39
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Volatility management is a component of banking that should always be on management’s radar, especially after recent bank collapses. Thoroughly understanding the waves of volatility leads to improved risk management and a strong culture of trust with customers. David Sayers , Chief Financial Officer at Maine Savings , believes by prioritizing internal and external continuous education and improvement, credit unions will optimize and become more trusted by their members. Join us as we discuss: Volatility management in banking Stability and education fostering trust with members A culture of continuous internal improvement Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Power of Collaboration: Maximizing Efficiency with Fintech Partnerships 37:01
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Banking has been hit with a whirlwind of technologies in recent years. With growing tech stacks that only continue to increase in complexity, it’s important to pick and choose which tech offers the best solutions. Fostering a strong organizational culture that focuses on understanding your customers to provide them with the right technology is key. Matt Pierce, Chief Lending Officer at Leader Bank , joins the podcast to discuss how to create this culture, the importance of close fintech partnerships, launching and adapting during the pandemic, and much more. Join us as we discuss: Fintech partnerships: the road to efficiency Leader Bank’s PPP response and role as a minority depository institution (MDI) Culture and communication in banking Want to learn more about how Upstart partners with credit unions? Check out this case stud y mentioned in the episode.…
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1 The ‘Moonshot versus the Pragmatic Approach’ to Digitization 42:08
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Technology is revolutionizing the world. With continuous iterations of tools and processes, people juggle between implementing with careful consideration and jumping head-first into large-scale digital transformation projects. How can banks pragmatically embrace these digital advancements without losing touch with in-person experiences? Ben Udell , SVP Client Experience at Lake Ridge Bank , is the guide to the future of banking, and how to successfully integrate helpful technologies while retaining the value of face-to-face experiences. Join us as we discuss: Balancing pragmatic and moonshot approaches How community banks can compete with enterprise banks with service Consumer credit trends, including BNPL and personal loans…
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1 CRO Perspective: Balancing Risk and Innovation in Banking 35:43
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Over the past few weeks, there has been a shift in the nature of risks in the banking world — the federal government playing a significant role in stabilizing. These experiences have highlighted the dynamic nature of risks in finance and banking and the need for a responsive government, ready to take action. On this episode, we’re joined by Kristina Schaefer , General Counsel, Chief Risk Officer & Chief Administrative Officer at First Bank & Trust. We dive into the evolution of banking (and government involvement) over time and what it means for today. According to Kristina — banks must adapt from traditional methods to meet the quickly evolving needs of today's financial markets. Join us as we discuss: The past, present and future of the banking and federal government relationship Current state of risks, and what it means for federal involvement Importance of people, culture and community in banking operations…
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1 Addressing Concerns in New Auto Consumer Protection Rule 29:13
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Last June, the Federal Trade Commission proposed a new rule regarding consumer protections. This rule would greatly affect auto dealers, placing greater restrictions and imposing new duties. This week, we sat down with Paul Metrey , Senior Vice President, Regulatory Affairs for the National Automobile Dealers Association to discuss the FTC’s Safeguard Rule going into effect June 9. Join as we discuss: The challenges surrounding the FTC’s proposed rule How dealers can comply with these updated requirements Forward-looking trends in automotive, including EVs and connected customer experiences…
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1 Keeping Pace with Risk Mitigation and Regulatory Changes 33:29
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Consumer credit is a hot topic. With new credit products like Buy Now Pay Later (BNPL) hitting the market and the always-evolving impacts of credit reporting, banks need to expertly hone their underwriting to strike the optimal balance between business and risk. In this episode, Aaron Rykowski , SVP, Chief Compliance Officer at WesBanco , and Jennifer Ruggiero , SVO - First Line Director at M&T Bank , examine the latest trends in consumer credit and what they mean for your financial institution. Join us as we discuss: Risk and compliance management in today’s economy Trends in consumer credit, including new products and reporting Why you can’t afford to not invest in new technologies to facilitate compliance, risk-mitigation and underwriting — and how to properly use your data to support these efforts…
Fraud is on the rise — bad news for banks and customers alike. In today’s digital world, criminals have more tools at their disposal than ever before. And financial institutions, government and consumers all have a part in defeating them. In this episode, Rakesh Mirajkar , Head of Consumer Bank Fraud and AML and Managing Vice President at Capital One joins the show to examine the multi-pronged approach that countering bank fraud requires and how individual organizations can play their part. We discuss: The resurgence of fraud post-pandemic and the impact of digital activity New fraud scams Why consumer engagement and education plays a critical role in mitigating fraud risk The future of fraud-risk controls…
The auto industry is racing into the future, whether it’s the surge of electric vehicles in the current market or the promise of self-driving cars one day taking it over… And that means auto lenders need to keep pace or get left in the dust. In this episode, Becky Philippi , Director of Indirect Lending at First Interstate Bank , and Fabien Thierry , Head of Consumer & Small Business Vehicle Lending Product at Bank of America , share what lenders need to know about the future of the auto industry. We discuss: The impact of inventory shortages Digitization in the auto market spurred by changing consumer expectations and other electric vehicle companies Why lenders need to be flexible, devoted to client experiences and forward-thinking to prepare for the road ahead…
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1 Deposit Management in a Post-SVB World 25:51
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Though deposits at many institutions are down while uncertainty around the future is growing, Jeff sits down with two experts in the deposits space who offer strategies for organizations to thrive in the current financial climate. Angela Conti , Head of Deposits and Retail Payments, USAA , and James Morgan, Head of Deposit Product, Pricing & Portfolio Strategy, Capital One , join the show to demystify declining deposits and post-SVB uncertainty. We discuss: The lingering effects of the pandemic still influencing deposit behavior Illuminating the benefits of digital acquisition What your organization can do to maintain a competitive edge…
With new regulations on the horizon — what do these changes mean for your institution? Dan Smith , EVP, Head of Regulatory Affairs at the Consumer Bankers Association , has the answers in this rundown from the CBA LIVE conference. The banking world runs on rulebooks, and with unprecedented events such as the failure of Silicon Valley Bank, additional chapters are in rapid development to get ahead of the Congressional Review Act in April/May of 2023. Join us as we discuss: Section 1071 and its implications for small-business lending Section 1033 of the Dodd-Frank Act for consumer access to financial records The proposal for lowering credit card late fees…
Recent banking failures have everyone in finance wondering what the future holds for lending. Do these signify the start of some significant changes in the lending space? To find out, we’re speaking with Kris Puskar , Senior Vice President Business Banking Sales & Innovation Director at Eastern Bank , and Christina Brozyna Head of Business Banking Sales & Operations/Executive Vice President at M&T Bank . Both of whom are well-qualified to weigh in, holding positions on the Small Business Banking Committee at the Consumer Banking Association. Join us as we discuss: How the recent failures affect deposit sentiment and strategy The rise of SBA lending Shifting consumer expectations after PPP lending and the digital experiences it offered Special Purpose Credit Programs…
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1 Clicks To Bricks: Starting the Customer Experience Digitally 46:39
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When it comes to building their customer experience, banks have traditionally started with brick and mortar before expanding digitally. What if banks have been approaching CX backwards? In this episode, Jenna Stricker , Director of Digital Lending at nbkc bank , shares why more and more banks are laying their CX foundation digitally first, only later adding the brick and mortar on top. Join us as we discuss: The advantages of starting off digitally How to deliver a delightful customer experience How alternative data helps banks improve the underwriting experience…
In 2021, loan repayments were at a historic high, but by mid-2022 the tables had turned. What happened? To get to the bottom of this alarming shift, Upstart created the Upstart Macro Index (UMI), a precise, quantitative method for separating the micro and macro effects that should be influencing underwriting decisions today. In this episode, we speak with Paul Gu , Co-Founder and Head of Product at Upstart , about the index and the insights it can offer lenders. Join us as Jeff and Paul discuss: The concept of the Upstart Macro Index (UMI) Micro versus macro prediction levels How to leverage UMI in the context of lending partnerships Want to learn more about the Upstart Macro Index (UMI)? Check out the UMI site mentioned in this episode.…
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1 What the Collapse of SVB Means For Deposits and Interest Rate Increases 35:18
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The recent collapse of the Silicon Valley Bank has been one of the most significant bank failures since the global financial crisis and is the second-largest bank failure in the history of the United States. With ripple effects spreading around the globe, this bank failure has thousands of experts diving deep into the details to identify exactly where things went wrong, what the collapse means for the future and how we can avoid similar failures. In this episode, we speak with Nick Timiraos, Chief Economics Correspondent at The Wall Street Journal, who shares his take on the unfolding events and gives us a glimpse into what the future of finance may hold. Join us as we discuss: An outlook on the future of deposit insurance Navigating crises in the financial sector Macroeconomic balancing tools utilized by the federal government Note: This was recorded on 3/16. For updated reporting by Nick Timiraos on this story please visit The Wall Street Journal .…
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1 “Bank Your Size” - The Community Bank Difference 45:51
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Small businesses are the backbone of America. But, too often, they partner with banks that don’t offer the personal touch, care and attention their business deserves. On this episode, we speak with Ryan Coaxum , VP at Guaranty Bank & Trust , and one of eleven inaugural American Bankers Association Emerging Leader Award recipients this year, about the positive impact that banking your size can have on your business. Join us as Jeff and Ryan discuss: Coaxum’s experience opening Guaranty Bank & Trust’s first Texas branch, including challenges and advantages Having a personalized approach to small business banking Prioritizing financial literacy and affordable housing Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Data Is The New Oil: What’s Next In Banking 36:23
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The release of Chat GPT has spurred all sorts of conversations and speculation on where the technology is taking humanity- and if this is a cause for alarm or celebration. In the banking industry leveraging the new advances in AI can increase lending accessibility and customer experience. Tim Shangle , Innovation and Data Analytics at ChoiceOne Bank and a member of the American Bankers Association's Emerging Leaders Council, is all about the use of AI to develop breakthrough tactics to make lending more efficient and personal. Join us as Jeff and Tim discuss: Practical applications of Chat GPT Innovation to scale and innovation to time Data as the new oil Remembering the people behind the data Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 How a $4.5B Credit Union Maintains a Direct Line to Members 32:37
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Credit Unions are already known for their personal service, but what happens when you double or triple in size. Does bigger need to mean less personal? Recently named American Bankers Credit Union Executive of the Year, Bruce Foulke , CEO & President of American Heritage Federal Credit Union , spoke with our host, Jeff Keltner, about retaining personalized service during times of growth. Join us as Jeff and Bruce discuss: Foulke’s experience through 55 credit union mergers Maintaining a direct line to the members (even as a CEO) American Heritage’s employees’ charitable work and Foulke’s efforts to assist Ukraine Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
Turning your perceived competitor into a partner is not a new strategy, but leveraging partners in the digital financial space to gain a competitive edge is increasingly important. In this episode, Curt Queyrouze , President of Coastal Community Bank , talks about his experience working with multiple partners and gaining an understanding of how these partnerships work best for everyone involved. Join us as Jeff and Curt discuss: Advice for banks and credit unions in the fintech space What a metaverse banking experience looks like Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Data Driven Strategies For Challenging Economic Times 32:13
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Fears of a recession and high interest rates have persisted into 2023. Now, lenders are determining how to maintain their competitive advantage with consumers despite economic downturn. This year, we are bringing back guests to test how well their bold predictions have held up in recent months, and to see what other insights they have on the macro economy for the year ahead. In this episode, Barry Roach , Senior Account Manager at Upstart , shares his particular outlook on the macro economy and what this means for strategic moves lenders can make to gain a competitive edge. Join us as Jeff and Barry discuss: Digital banking is more efficient, but branches are still here to stay Data driven strategies Barry’s particular optimistic outlook for overall growth…
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1 CBA’s Outlook on Fraud, Branches and Digitization 38:59
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The investments in technology that banks and financial institutions are making today are preparing consumers to manage their finances in a more meaningful way. They are approaching technology in terms of solving problems for their consumers and transforming the way that they use their financial services providers. But where else is digital banking taking us in the future?In this episode Lindsey Johnson , President and CEO of the Consumer Bankers Association , shares the changes and accomplishments that she has made this past year and what to expect in 2023.Join us as Jeff and Lindsey discuss: Fighting fraud effectively in banking industry The evolving role of the branch The role fintechs are increasingly playing in the banking industry Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Supporting Small Businesses as a CDFI and MDI 33:05
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The banking industry is increasingly leveraging innovations in alternative data to underwrite loans for both consumers and small businesses. This can make a huge impact in communities that Minority Depository Institutions and Community Development Financial Institutions serve.In this episode, Michael Pugh , CEO of Carver Federal Savings Bank , discusses how to support small businesses better and serve communities by developing programs based on improved data analysis.Join us as Jeff and Michael discuss: Roles of MDIs and CDFIs in helping communities grow businesses The importance of capital access for underserved business owners Understanding the voice and perspective of members who have difficulty accessing capital Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
Credit Unions, at their core, have a strong commitment to service. But how do you scale the concept of serving your members to the broader community — even to the wider world of financial services? Our guest today believes that if you serve people passionately, you will ultimately move the entire industry forward toward more inclusivity and equity. In this episode, Renée Sattiewhite, President & CEO of the Af rican American Credit Union Coalition , highlights her strategies for driving equity and bridging the racial wealth gap, addressing the housing and credit disparities, and ensuring access and fairness. Join us as Jeff and Renée discuss: Background of the African American Credit Union Coalition and its goals The scalability of service to your staff and members How to address equity gaps in the traditional banking system Overcoming bias through community representation Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Rethinking Marketing & Incentives for Engagement 42:30
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Credit unions promise their members more than a traditional bank, but communicating and marketing your expertise is not always easy in a crowded market. In this episode, Karrie Drobnick , Chief Operati ng Officer at Verve , talks about growing and rebranding their credit union to spur robust growth. She also talks about creating a new personality of the company and then translating that into a better experience for members. Join us as Jeff and Karrie discuss: Their use of a recognizable and relatable spokesperson How incentives can drive both good and bad behavior for sales teams Where the opportunities in blockchain are for lending and financial services Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 A Fireside Chat with Upstart’s CEO, Dave Girouard 50:07
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Dave Girouard , Co-Founder & CEO at Upstart , believed that young people were "potential rich yet cash poor"—and that dynamic caused them to make poor financial decisions for themselves and the economy as a whole. There had to be a better way to provide people with affordable access to credit, on reasonable terms, when they needed it. Using AI and machine learning provided that new way forward. In this episode, Dave shares how the company came to be and how Upstart provides transformative access to credit for all. We discuss: The problem statement for Upstart and the choice to venture into unsecured consumer loans The application of AI in the credit process The choice to partner with financial institutions Adding value in auto, small business, and mortgage loan spaces…
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1 Safe Is Risky: How Banks Can Stay Innovative> 38:55
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Banks can no longer afford to play it safe when it comes to their digital capabilities. “Safe” is now risky. That’s why, in this episode, Tony Hejna , EVP, Con sumer Bank Chief Credit Officer at KeyBank , joins the show to share the secrets behind moving fast (without breaking things) and maintaining an edge in a highly regulated and increasingly competitive landscape. Join us as we discuss: - The 3 rules of job satisfaction - Why staying safe is risky - "The importance of a robust technology infrastructure" - The threat and opportunity with open banking…
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1 Lending Leaders: 2022 Trends and 2023 Predictions 22:03
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We’ve covered a wide range of topics that are propelling change in the lending space this year- from use of technology to policy recommendations to unexpected changes, our guests didn’t disappoint in the insights and predictions they shared. Despite a difficult macro environment, and among increasingly high interest rates, credit unions grew their memberships proving that lending responsibly and investing in communities drives demand. While collectively financial institutions made tremendous strides in expanding customer experience and leveraging technology, In our final episode of the year, our host, Jeff Keltner, will take a look back at our series highlights from 2022, and what some key takeaways mean for 2023. Join us as Jeff discuss: The importance of leading with lending in difficult economic times The potential of blockchain to improve product experiences despite the collapse of FTX Recent AI-powered technologies Inclusivity and access in AI…
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1 Strategic Community Investments By Credit Unions 35:52
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Many credit unions offer traditionally underserved members an advantage in not just banking, but financial planning. One crucial asset they can offer is financial education, providing not only a way to manage their money but also a way to achieve their financial goals. In this episode, Charlotte Nemec, President and CEO of Canopy Credit Union, talks about what community means to a credit union, and how an investment in members helped to grow their lending portfolio. Join us as Jeff and Charlotte discuss: Technology fixes and staffing changes that can help expedite limited time marketing campaigns to bring more lenders in The structure of a CUSO and what it meant to have 4 credit unions come together in one community Leading a credit union with a ‘people first’ mindset Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Seismic Shifts in the Indirect Lending Landscape 38:22
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The car industry has been hit by multiple disruptions in recent years due to the supply chain and the lack of inventory. But people still are buying cars, and they are certainly still applying for auto loans. Adam Brice, SVP of Lending at EFCU Financial, shares his experience in the auto lending space- what the future may look like in auto lending, and also how AI plays into the future of common sense lending. Join us as Jeff and Adam discuss: The state of indirect financing in auto lending in the current auto sales and supply market The use of Credit Union Service Organizations (CUSOs) to band together and compete against larger financial institutions How AI lending fits in with a common sense approach Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
Delivering the best member service at credit unions was once totally dependent on face-to-face relationships, and while that is still important today, the digital transformation has upended what constitutes personalized service. The balance between a human high-touch level of service and digital ease is now table stakes in lending. Cherly Purrington, Chief Lending Officer at ACFCU, shares her experience in building new digital systems that bring both high touch, security and ease of use to members. Join us as Jeff and Cheryl discuss: The model of ITMs (Interactive Teller Machines) in bringing high touch service to members, but also being digitally accessible from multiple locations The elements that go into driving your institution through a digital transformation How you find the right leadership staff to motivate and manage teams to deliver high quality of service in the digital space Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Driving Loan Growth Digitally In Uncertain Times 52:29
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The lending environment in 2022 is vastly different than it was in 2019 – rising rates and inflation have made lending more expensive for consumers. However, leveraging AI and machine learning can help banks continue to serve their existing customers' borrowing needs as well as acquire new customers. In this episode, Candace Caruso, SVP Chief retail Lending Officer at WSFS Bank, and Ed Walters, VP, Accounting Management at Upstart, discuss their partnership and how the Upstart Referral Network and bank-branded solutions have have helped WSFS expand their customer base safely in an uncertain economic landscape. Join us as Ed and Candace discuss: Expanding digital delivery channels for more efficient lending with better customer insights How WSFS is leveraging AI for more accurate credit decisioning WSFS’ strategy behind delivering a differentiated service to grow their loan portfolio in a competitive landscape Leveraging the Upstart Referral Network and its bank-branded solutions to provide a seamless digital experience to both their existing and potential customers…
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1 Policy and Practice to Expand Access to Credit 29:19
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Technology is transforming the banking landscape, but it is cost prohibitive for smaller institutions and can leave out borrowers who need access to capital the most. Recognizing that credit funds opportunity, the movement for inclusive credit is growing thanks to the MoreThanFair initiative that believes technology and data science can make lending more inclusive, transparent and fair. Our guests today have been at the forefront of the movement for more inclusive credit. Nicole Elam, President and CEO of the National Bankers Association, and Nat Hoopes, VP, Head of Public Policy and Regulatory Affairs at Upstart, are both involved in the More Than Fair initiative. They discuss how leveraging technology partnerships to expand access to capital and credit is essential to opening up opportunities for lower income and minority communities. Join us as Jeff, Nicole and Nat discuss: Why automated lending and online banking are particularly challenging for Minority Deposit Institutions and how the National Bankers Association and Upstart can help How policy changes can encourage fair lending and push reforms to include more data to determine who is creditworthy If you can’t build it or buy it, then the only way to compete is to partner with Fintechs…
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1 Policy and Practice to Expand Greater Access to Credit 26:30
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Technology is transforming the banking landscape, but it is cost prohibitive for smaller institutions and can leave out borrowers who need access to capital the most. Recognizing that credit funds opportunity, the movement for inclusive credit is growing thanks to the More Than Fair initiative that believes technology and data science can make lending more inclusive, transparent and fair. Our guests today have been at the forefront of the movement for more inclusive credit. Nicole Elam, President and CEO National Bankers Association and Nat Hoopes, VP, Head of Public Policy and Regulatory Affairs at Upstart, are both involved in the More Than Fair initiative. They discuss how leveraging technology partnerships to expand access to capital and credit is essential to opening up opportunities for lower income and minority communities. Join us as Jeff, Nicole and Nat discuss: Why automated lending and online banking are particularly challenging for Minority Deposit Institutions and how the National Bankers Association and Upstart can help How policy changes can encourage fair lending and push reforms to include more data to determine who is creditworthy If you can’t build it or buy it, then the only way to compete is to partner with Fintechs.…
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1 How Specialization Can Win Credit Unions Members 34:12
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Credit unions can’t be everything to their members, so honing in on the products they specialize in and working with partners for the remaining products makes sense. That is exactly what our guest today, Kayla Selhorst SVP Chief Operating Officer at CME Federal Credit Union, has accomplished — streamlining the lending operations at CME to approve more loans, with less staff. They did this by not only making their operation more efficient, but by putting the members' needs first. Join us as Jeff and Kayla discuss: Branches taking on more of a consultative role and what the new physical layout might look like (you will be able to get your coffee there too) The real value of predictive lending when using transaction data history Balancing AI and new technologies with a human touch to remain competitive and deliver customization to members Want to learn more about how Upstart partners with credit unions? Check out this case study, mentioned in the episode.…
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1 Partnering with Fintechs for Member Growth 39:02
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Credit unions have a unique advantage helping members access the best possible products through a great member experience. Fintechs have a distinct advantage in cutting edge technology and working with traditional financial partners to level-up their digital experiences. But once a partnership is in place- what makes it work? Our guest today, Jaynel Christensen, Chief Growth Officer at Commonwealth Credit Union, has spent her career increasing access to affordable credit for her members. Naturally, when fintechs entered the landscape to make lending more efficient, her team wanted in. As an earlier adopter of fintech partnerships, Jaynel shares her experience in finding the right partners for credit unions. Join us as Jeff and Jaynel discuss: The future of in-branch experience for members Commonwealth’s productive history of Fintech partnerships How fintech partnerships deliver the AI expertise to streamline efficiency Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Cultivating Innovation as a Traditional Bank 28:24
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Innovation is not just about adoption of technology, it’s also a change in mindset. Especially for some traditional banks that have been operating for over a decade, this mindset shift in the lending space usually involves influencing multiple stakeholders at a financial institution: from credit, risk and regulatory sides of the business. So how do you influence the risk averse and push innovation, especially in today’s tough climate of mortgage lending? Our guest today Leisa Kinnin, SVP Lending Product Manager at UMB Bank, together with her team helped to launch a downpayment assistance program that provides help to qualified borrowers who cannot meet the high upfront costs of purchasing a home. Leisa has spent her entire career in lending and knows this team effort requires institutional process change to meet the tech changes she sees in the industry. Join us as Jeff and Leisa discuss: How traditional banks can leverage fintechs for digital experiences Influencing decisions without a seat at the top of the org chart Serving underserved communities Want to learn more about how Upstart partners with Banks? Check out this case study mentioned in the episode.…
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1 Bringing Consumer Tech Innovation to Commercial 32:16
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Innovations in fintech have significantly improved the consumer lending process, but the same hasn’t been true for the commercial banking industry. Lending time for middle market businesses can take up to 100 days,nd that lag time to accessing capital can slow a business down incredibly. Fintech has invested less in optimizing the lending market for commercial businesses and Allan Rayson, Chief Innonvation Officer and Chief Technology Officer at Encore Bank, is determined to change that. Allan spent the majority of his career in commercial banking and recognizes the need to streamline the process for extending commercial credit. Join us as Jeff and Allan discuss: Where the inefficiencies are in commercial banking Opportunities for smaller community banks to come together with Fintechs to make innovations in consumer lending more transferable to the commercial space Focusing on data interchange, underwriting and negotiations to level-up middle market lending Want to learn more about how Upstart partners with Banks? Check out this case study mentioned in the episode.…
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1 Driving an Amazon-Like Experience for Members 31:59
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When members do business at their credit union, their digital preferences aren’t just measured against other experiences in the financial services space — but by bigger retail and entertainment companies. So, credit unions need to keep pace with the technology and provide that ideal member experience. Nicol Matthews, Chief Experi ence Officer, Carlolinas Telco Federal Credit Union, has done just that — upleveling th e digital experience of members as an extension of in-person service. Join us as Jeff and Nicol discuss: Putting yourself in the member’s seat to feel the pain points What it takes to execute and elevate a comprehensive member experience How to drive execution-mindedness at the credit union The impact of AI in banking…
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1 Fair Lending and AI: A Conversation with Upstart’s Chief Compliance Officer, Annie Delgado 35:16
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Access to credit is the key to opportunity and upward mobility for millions of Americans, yet less than half of Americans have access to prime credit today. AI and machine learning are helping lenders identify creditworthy borrowers without increasing risk, but some have questions about how these new technologies apply to Fair Lending laws. Annie Delgado, Chief Compliance Officer at Upstart , has been actively engaged in working with regulators on fair lending practices and shares how Upstart works to prevent bias in its AI algorithms. Join us as Jeff and Annie discuss: Policy implications of use of new technologies (like AI) in lending How to interact with regulators in this new space of AI and lending Why fair lending is a policy issue we need to be concerned about…
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1 Digital Assets and the Metaverse: How Credit Unions Can Deliver Value 35:12
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What is the value of digital assets and how are they used? It’s not an easy question to answer- and it’s not just about cryptocurrency either. Is it possible to leverage digital assets in the lending space? Joe Keller, VP of Digital Assets at Visions FCU, details his experience in the metaverse and what digital assets can be of real value to both lenders and borrowers. Join us as Eric and Joe discuss: How do we assign and access the true value in the metaverse- using real estate as an example Examples of digital assets where people interested in the space can get involved and learn more Digital assets beyond cryptocurrency (Yes, we talk about NFTs) Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.…
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1 Tapping into Underserved Homebuyers with Co-Ownership 30:13
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In the current economic environment, finding an affordable home has become out of reach for many potential buyers. What if a realistic option was to co-own a home or property- instead of pouring money into your landlord’s mortgage? Underserved homebuyers and renters who can’t afford to buy a home on their own are now multiplying their buying power and making co-ownership a reality. Eric Chebil Founder and CEO of Cher, does all this for clients, realtors and lenders looking to co-own a home. Join us as Eric and Jeff discuss: Co-ownership as a way to serve those just out of reach of home ownership in competitive housing markets like California How lending and other agreements works in a co-ownership model Activating more clients for lenders- risks and rewards…
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1 Blockchain Banking: Another Avenue for Lending Markets 38:37
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Is the future of everyday transactional banking going to be on the blockchain? Are we closer to bringing traditional currencies into and out of the crypto space for a wider range of banks and customers? Sidney Powell shares his experience running and co-founding Maple Finance- a lending organization bringing capital markets on-chain. Join us as Sidney and Jeff discuss: Building an on-chain credit history and how grouping of funds can make lending more efficient and accessible Application and value added services that can be provided on top of the blockchain to allow broader use The real world adoption of crypto currency outside of the lending space, with examples from international payments and remittances. Practical advice for people who want to get started in crypto…
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1 The Opportunity with AI Driven Lending: Paul Gu 35:00
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There’s a lot of buzz about the “artificial intelligence revolution” and the impact it’s going to have on businesses as we know it. As AI and machine learning emerge in the consumer lending space, the technology has proven to provide dramatic wins for both lenders and consumers. This week we are running an older, listener favorite episode featuring Paul Gu, co-founder of Upstart.…
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1 Addressing Post-Pandemic Challenges Across Talent, Regulation and Customer Needs 29:27
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Banking has seen some drastic shifts since the global pandemic- from the competition to attract and retain new talent, to meeting the needs of customers facing increasing inflation and uncertainty in this precarious economic climate. From his view over multiple institutions and as a public policy expert, our guest today, Ramon Looby, CEO of the Maryland Bankers Association gives us a nuanced look at the issues facing the banking industry. Join us as we discuss: Looby’s perspective as an industry advocate across community, national and multinational banks Attracting and retaining talent in banking in an altered job market The perception of so called “junk fees” for banking services Putting financial literacy on the public policy agenda Want to learn more about how Upstart partners with banks? Check out this case study mentioned in the episode.…
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1 Expanding Opportunity and Financial Freedom with MDIs and CDFIs 37:19
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In recent years there has been more reporting and recognition of the racial wealth gap- the large, and growing, gap in the percentage of family wealth in black households, as compared to white households. Banks like Carver State have been operating within the mission to serve the African American community since 1927 and are now leveraging partners to maximize their reach and accessibility. Our guest today, Robert James, Chief Executive Officer at Carver State Bank, gives our listeners a look at the unique service they provide and how they have been addressing the racial wealth gap in Georgia for several decades. Join us as we discuss: Carver State’s role as both a minority depository institution (MDI) and community development financial institution (CDFI) Unlocking credit access and opportunity Leveraging fintech partnerships to find the balance between high tech and high touch How the National Bankers Association (NBA) ensures the needs of MDIs across the country are met Want to learn more about how Upstart partners with banks? Check out this case study mentioned in the episode.…
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1 Creating a Mission-Led Credit Union Fostering Financial Wellness 35:43
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Credit unions are dedicated to not only serving their members’ financial needs, but to helping their members foster long-term, financial wellness. Our guest today, Brian Vannoy, Chief Credit and Risk Officer at Allegacy Federal, describes Allegacy Credit Union’s unique approach to both direct and indirect auto lending as well as personal lending, and how they create opportunities to influence their members’ lives for the better. Join us as we discuss: Allegacy’s unique approach to both direct and indirect lending The use of a network of point of sale relationships to offer better rates for members Techniques to foster greater financial well-being for members Creating a mission-led organization…
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1 Balancing Digital with Human Touchpoints to Excel in Consumer Lending 33:25
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Digital strategies are not just for deepening relationships with your customers. The digital experience is also a way to refine and improve processes while also building community and trust. Today’s guests Mary Kate Loftus, Executive Vice President, Director of Digital Banking, and Tim Frederick, /EVP, Head of Mortgage Originations at M&T, know that digital touch doesn’t replace a human connection with a customer, but it can help define it. Join us as we discuss: The difference between digitization and going digital to leverage platforms and transform processes Government-led innovation in the mortgage space The role trust plays in capturing and keeping customers engaging digitally The characteristics that separate the winners from the losers in the future of consumer lending…
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1 Boosting Results for Credit Unions with Holistic Digital Marketing 33:54
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Digital advertising is a given for any business in the world today, but how can credit unions connect the right products to their existing members and grow their member base? By increasing and honing their digital engagement tactics. Today’s guest Michael Hostetler, VP of Marketing at Crane Credit Union, shares how his credit union leverages data to thoughtfully market relevant products to members. Join us as we discuss: Using an entrepreneurial mindset to increase credit union member growth and engagement Educating members about product offerings Improving the new member and new loan onboarding process Digital marketing strategies and channels that integrate the marketing and user experience…
In a market where the consumer is juggling multiple relationships with financial institutions, how can credit unions compete? Consumers want to better understand their financial well-being, which means they need a holistic picture across multiple platforms. Drawing on data from a mix of daily digital habits can provide just that, while also driving loyalty. Samantha Paxton, Chief Experience Officer at Co-op Financial Services, shares her experience in building these systems for credit unions and the indispensable value they serve for strong member relationships. Join us as we discuss: How to measure the strength of member relationships Driving engagement with payments and money movement How to help foster financial well-being by being friction-free and guiding members to achieve their long-term goals…
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1 Leveraging Data to Thoughtfully Position Products and Deepen Consumer Relationships 35:33
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Providing consumers with their credit score is table stakes in consumer banking. Now, banks and credit unions can take this a step further to assess where and when consumers are coming back, and how to ultimately use this information to grow their relationships more deeply and into new products. Enter Array. Today, Jacob Bouer, Director of Sales and Strategic Partnerships at Array, joins us to break down the concepts banks and credit unions need to know to get the most new credit technologies and their partnerships. Join us as we discuss: Providing consumers with a better experience surrounding their credit scores How to measure the value fintech partnerships are delivering to end customers and members How to thoughtfully position products and generate next best action capabilities…
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1 Understanding the People Behind the Numbers in Fair Banking 33:31
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Data is critical to lending institutions, but financial institutions must remember that there are people behind the numbers. With a focus on fair lending practices, financial literacy and compliance - Britt Faircloth, SVP, Fair Banking Officer at Valley Bank, offers her insights on how financial institutions can partner with their compliance teams to offer the right products for their communities. Join us as we discuss: Using data to ensure products fit the needs of communities How compliance and product can partner Fair lending approaches applied to non-lending products Corporate responsibility and environmental, social and governance (ESG) The importance of financial education and literacy…
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1 Partnering to Diversify the Portfolio and Expand into New Products 35:16
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It’s a changing world. You can’t do business as usual and expect it to continue to work for your customers. That’s why innovation around new market approaches are more important than ever, and that doesn’t happen by accident. It requires investment in new technology and the right team to understand and navigate it. David Houchen, Senior VP and CFO at First Federal Bank of Kansas City, explains that lenders can’t be offering the same things they did 15 years ago, and how partners open the door for new product offerings. Join us as we discuss: How FFBKC worked with Upstart to build their unsecured lending portfolio Their focus on diversifying their loan asset mix The decision to partner for personal loans…
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1 The Importance of Data Access and Reporting During Uncertain Economic Times 38:47
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The potential crisis has everyone concerned, but there is also opportunity at junctures like this in the market. Perry Rahbar, Founder an d Chief Executive Officer of dv01, shares his insights on services that are most valuable during uncertain times. Additionally, Rahbar discusses how the mortgage crisis led him to found a unique FinTech data operation. Join us as we discuss: How dv01 was born out of the mortgage crisis dv01’s position as a data hub integrating with originators, banks and investors The economic outlook and how this will impact demand for credit Opportunities in solar and auto loans…
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1 Understanding Trends in Consumer Behavior: The rise of BNPL, solar energy and crypto 37:48
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In the midst of rising rates, how are personalized loans and securitized loans poised to change or influence the lending landscape? Anand Cavale, EVP of Unsecured lending at Guaranteed Rate, with his varied background in engineering, banking and credit cards, shares his thoughts on the emerging trends in consumer lending and gives us background info on when the changes started. Join us as we discuss: Rising rates on credit cards may create opportunities for personals loans The move toward buy now, buy later and its implications The opportunity and pitfalls of student lending The shift towards solar energy and crypto…
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1 The Paradigm Shift in Payments: Modernization in Card Issuing and Processing 38:03
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How can lenders create a differentiated transaction experience for their borrowers with such a technically simple integration? Randy Kern, Chief Technology Officer at Marqeta, discusses how they are disrupting the payments industry with transaction-based decisioning and buy-now-pay-later, and how lenders can work to optimize both internal processes as well as the borrower experience. Join us as we discuss: Building more visibility between borrowers and their finances Moving the credit decision to the transaction level The growing focus on risk products and capabilities The evolution of BNPL Fighting fraud while maintaining a best-in-class borrower experience…
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1 Where AI Meets Finance: Upstart Hosts ‘Boosted’ in San Francisco 13:03
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"We should remember to always look back at ourselves and realize the power of what we can do if we push the ball forward," said Dave Girouard, Upstart's Co-Founder and CEO at Upstart's inaugural event - boosted. boosted was first in Upstart's annual conference to spur discussion around the future of AI and finance. Jeff Keltner, Senior Vice President of Business Development at Upstart, gives an insider view on what took place at boosted, including the line-up of A-list speakers in the FinTech space. Marc Benioff kicked off the 3 day event with a conversation about not just what business is doing for profit, but for changing the world for the better. Dave Girouard, Upstart’s CEO, discussed inclusive lending and how broader access to credit is key to unlocking the American dream for more borrowers. Hear about these key moments and highlights from Boosted: How many Americans are being left out of the credit system despite being creditworthy Trends in the consumer lending space- including lending in emerging markets Politics, the regulatory landscape and how that might impact financial institutions The future applications of cryptocurrency An inside view from Washington on emerging technologies like AI Upstart will be posting more from this event, so keep an eye on Jeff and Upstart’s social media. More information about Jeff and today’s topics: LinkedIn Profile: https://www.linkedin.com/in/jeffkeltner/ Company Website: https://www.upstart.com / To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Building Systems Around Member Experiences to Retain Loyalty 35:50
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Member loyalty isn’t what it used to be. Once upon a time, loyalty was the product of proximity, or due to a family or friend recommendation. But loyalty has changed. It’s gone from loyalty to a provider, to loyalty to an experience. On this episode of Leaders in Lending, we sit down with Rick Jarrar. Rick is the Chief Lending Officer at Kemba Financial Credit Union, and our conversation was all about: How to gain and retain member loyalty The evolution of the branch from transactional to advisory services The surge in BNPL payments and its impact The applications of cryptocurrency To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 AI Lending 201: The Evolution of AI and Machine Learning at Upstart 28:12
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When you’re applying AI from scratch, there are a few lessons to keep in mind. One that stands out is to ensure the machine learning solution is well suited to the problem. Here’s the story of how we evolved our ML strategy at Upstart. Hear about how to apply AI in the lending environment from Leaders in Lending host Jeff Keltner, Senior Vice President of Business Development at Upstart: Challenges to overcome at the beginning stage of the ML journey Why feature engineering and first-party data build on each other The evolution of Upstart’s underwriting model Shifting from manual to automatic identity verification How to attain more interesting predictions and apply them in the credit industry Mitigating risk with creativity More information about Jeff and today’s topics: LinkedIn Profile: https://www.linkedin.com/in/jeffkeltner / Company Website: https://www.upstart.com / Ep. 41 - Back to Basics: AI Lending 101 w/ Jeff Keltner: https://podcasts.apple.com/us/podcast/back-to-basics-ai-lending-101/id1561389602?i=1000548218905 To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Building an Innovative and Member-Centric Credit Union with Fintech Partnerships 30:58
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Credit unions take pride in satisfying the needs of their members. However, many credit unions are overlooking a key way to bring more value to their members—partnering with fintechs. Charles Krawitz, Senior Vice President, Chief Capital Markets Officer & Head of Commercial Lending at Alliant Credit Union, joins the show to talk about how fintechs enable credit unions to innovate product offerings and better align with the needs of members. We discuss: What it means to be an innovator in the credit union space Building an organization that collaborates with fintechs New product offering opportunities Incubating innovative ideas with universities and educational institutions To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Tapping into the Unsecured Personal Lending and Auto Refinance Opportunities 29:30
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There are two lending spaces that tend to be underappreciated by many financial institutions: unsecured consumer lending and auto refinancing. Jay Fee, Vice President of Consumer Banking at PenFed Credit Union, has considerable experience with both. He joins the show to discuss the mechanics of unsecured consumer lending and auto refinancing, and why financial institutions should make the most of these opportunities. We discuss: The history of the unsecured consumer lending and auto refi space How lenders and fintechs can create symbiotic relationships Why auto refi is an excellent untapped opportunity How fintechs can help lenders seize the opportunity To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 A Macro View of the Big Trends in Banking in 2022 33:28
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As the CEO & Co-Founder of Sandbox Banking, a company that connects financial institutions with fintechs, Ravi Balasubramanian has an excellent vantage point for all the innovation happening in the banking industry. In this episode, he shares the big trends he sees, his advice for banks making strides into digitization and his bold prediction for the future of cryptocurrency. We discuss: How to gain the capacity for faster organizational decision making The benefits of having different systems in Web3 Rising innovation in banking as a service Common missteps in banking digitization To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Forging Fintech Partnerships to Digitally Scale and Create a Holistic View of Data 34:55
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More and more consumers are choosing to conduct their banking transactions online, and as such, financial institutions are adjusting their services to meet the digital moment. The question becomes, how can smaller institutions create differentiated service offerings for their borrowers on a limited budget? David Brand, Senior Vice President of Lending Operations at Sharonview Federal Credit Union believes fintech partnerships are crucial to helping smaller institutions, like community banks and credit unions, compete. He also foresees a future where in-branch associates help customers bridge the gap between the old and the new. In this episode, he talks about the future of banking and the initiatives that Sharonview Federal Credit Union has launched to prepare for it. We discuss: The importance of educating customers on self-service capabilities Applying automation and technology to back-end processes Managing indirect and direct vehicle financing Outsourcing financial services to partners To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 How Apple Bank Launched an Unsecured Consumer Lending with Upstart 32:06
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As a long-standing financial institution on the east coast, Apple Bank has weathered the many waves of innovation in the financial sector. Now that they have rapid digital transformation on their hands, they’re focusing their energy on standing up a best-in-class consumer lending experience. On this week’s episode, Gordon Levy, Senior Vice President of Risk and Analytics at Apple Bank, joins the show to talk about Apple Bank’s decision to partner with Upstart to launch and scale a successful unsecured consumer lending program. You’ll learn about… Why Apple Bank chose to partner with Upstart The benefit of partnering with a third-party provider How to get the stakeholders on board Expanding lending capacity prudently To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Maintaining the Value Chain through Front- and Back-Office Operations 31:48
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The key to navigating the changing tides of customer preference and the digital transformation of the industry lies in understanding your value chain. Understanding that makes finding the right partner easier, a third party who may be able to add value where it is needed along the chain. Alex Balagour, EVP & Chief Information Officer at Citizens & Northern Bank, recommends that bankers not lose sight of that value chain because that knowledge can help you make bold choices that will propel your business forward. Alex talks about the value chain and shares his thoughts on digital technology, customer experience, and the future of banking. We discuss: Offering fewer, more flexible banking products Obstacles preventing a truly frictionless digital experience Areas to invest in digital technology The tremendous value of in-person customer interaction To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Cultivating Operations and Culture in a Digital-First Environment with Anna Counselman 40:53
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Anna Counselman views operations through the lens of the customer – that is, understanding the customers’ pain points and ensuring solutions make it onto the product and engineering roadmap. It’s all about uncovering how to make your product or service better by rallying the relevant teams—product, engineering, and ML—around the single goal of empathizing with the user and solving their problems. As the Co-founder and Head of People & Operations at Upstart, Anna Counselman knows this process intimately. She shares how Upstart approaches product development and navigates the new era of hybrid work. We discuss: Anna’s journey to Upstart The importance of understanding the customer problem in creating cohesive product and operations teams Innovative approaches to hybrid work Key lessons learned from Google To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Fostering Innovation in Credit Cards, BNPL & Credit Management 41:02
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From credit cards to buy now pay later, Jerry O'Flanagan, EVP at First National Bank of Omaha, and his team are pushing the boundaries of what big banks traditionally offer their customers—and they’re overcoming the obstacles formed by legacy systems and processes to do it. It’s all due to a willingness to go out on a limb and do something truly unique within the institution. In this episode, we talk about Jerry’s philosophy on innovation and how he operationalizes it within the company. Plus, he shares his thoughts on some of the big trends in banking today. We discuss: Building and maintaining a team for a credit program The impact of buy now pay later Gaining inspiration for innovation from fintechs The strategy behind standing up a national digital bank To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 A Fireside Chat with Upstart’s CEO, Dave Girouard 51:27
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Dave Girouard, Co-Founder & CEO at Upstart, believed that young people were "potential rich yet cash poor"—and that dynamic caused them to make poor financial decisions for themselves and the economy as a whole. There had to be a better way to provide people with affordable access to credit, on reasonable terms, when they needed it. Using AI and machine learning provided that new way forward. In this episode, Dave shares how the company came to be and how Upstart provides transformative access to credit for all. We discuss: The problem statement for Upstart and the choice to venture into unsecured consumer loans The application of AI in the credit process The choice to partner with financial institutions Adding value in auto, small business, and mortgage loan spaces To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 How to Approve More Borrowers & Lower the Cost of Lending with AI 32:15
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With the help of AI technology, the subjectivity with approving or denying borrowers for credit has been removed and replaced this with objective reasons that every person can work to improve if necessary. In this episode, Margie Click, CEO & President at Agriculture Federal Credit Union, explains how lending has changed and how AI can help institutions lend more inclusively while minimizing risk. We discuss: The 4 Cs of lending & creditworthiness Finding the right fintech partner Seizing the opportunity in unsecured loans The evolution of fraud To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 The Shift from Preventing Risk to Enabling Risk-Adjusted Rewards 32:33
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There’s a delicate balance between balancing risk and reward. Michael Reed, Chief Risk Officer at WSFS Bank, emphasizes how risk managers can partner with business owners to achieve “risk-adjusted rewards.” In this episode, Reed explains how to bring risk teams and business owners together to achieve an informed decision. He also discusses the importance of end-to-end digital transformation to create an optimal customer experience and evaluating the right fintech partnerships to help achieve this goal. We discuss: The philosophy of providing risk-adjusted rewards rather than preventing risk The symbiotic partnership between banks and fintechs How the industry is doing at delivering frictionless customer experiences The interplay between risk and automated digital experiences To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Unlocking Financial Freedom for All: Pioneering an Ecosystem of Connected Financial Solutions 42:57
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Consumers have been adopting fintech solutions at an increasing rate. In fact, according to a Harris Poll conducted in conjunction with Plaid, the number of US consumers using fintech grew by 30 points last year to 88 percent. The advent of open banking has enabled the flow of data from financial institutions into the fintech ecosystem. However, it’s not a one way street—that data is also enabling banks to gain a more complete picture of consumers. In this episode, Raja Chakravorti, Head of Financial Access at Plaid, explains how this multi-directional flow of consumer data is moving the financial industry towards a world of interoperable financial solutions. We discuss: - How Plaid is unlocking financial freedom for all - The evolution of open finance and open banking - How banks benefit from a multi-directional flow of financial data - The shift from data as the advantage to using data to improve the customer/member experience To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 The Steady Adoption of AI & Machine Learning in Credit & Banking 36:12
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The more banks lend, the better they do and the broader their customer base becomes. With AI & ML, banks can lend to a larger set of customers — those who are perceived as high risk — with a greater level of certainty that there won't be undue losses. Despite this, many banks and regulators remain uneasy about the outcomes. Tom Faughnan , EVP & Director of Consumer Lending at Associated Bank , is bullish on the potential of AI & ML. In this episode, he shares what needs to happen for regulators to give fintechs the green light. We discuss: - The opportunities and hurdles of AI & ML in credit decisioning - How to find the right fintech partner in the space - Aligning internal parties across business lines during the vendor management process - Navigating the mortgage space as rates rise To hear more from Leaders in Lending, check us out on Apple Podcasts , Spotify , or on our website . Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 From Cultural to Digital Transformation: Aligning Incentives and Exploring New Products 38:18
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For a long time, banks didn't fully understand the value fintechs provide. As partnerships with fintechs have grown, banks are experiencing that value firsthand, and they've also discovered an economic model that is a win-win for both. In this episode, Matt Deines, President & CEO at First Fed, shares how he vets potential partners and how he ensures that the economics are aligned so that everyone can benefit. We discuss: -Why digital transformation starts with mindset -First Fed’s fintech partnership journey -How to align financial incentives in a bank-fintech partnership -Ways to better target customers across the credit spectrum To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Digital Transformation and the Community Reinvestment Act: Partnering with Fintechs to Serve LMI Communities 23:26
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The community reinvestment act (CRA) is a decades-old law requiring banks to meet the credit needs of their community, but with all the changes that have taken place in banking over the last 10 years, how can FIs can partner with fintechs to best serve their communities. ? In this episode, Nathalia Artus, SVP, Director of Community Development and Reinvestment & CRA Officer at Atlantic Union Bank, discusses how her bank approaches CRA and how strategic partnerships will play a part in community development in the future. We discuss: - How the digital transformation affected the customers CRA serves - Partnering with fintechs to extend credit to borrowers - How each bank approaches CRA differently - Ways to measure impact on the community and successfully track data To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 BNPL, eCommerce, and Crypto: Leading Trends Driving Consumer Preferences 31:13
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Customer needs are changing, and along with them, borrowing behaviors. How does this impact consumer lending and banking? Rich Longo, Investor and Growth Advisor at Nxtsoft, joins the show to share his insights into the trends that are reshaping the financial landscape. We discuss: - Where younger generations are getting financial advice - How Buy Now Pay Later (BNPL) and eCommerce are changing the landscape - Crypto initiatives poised to upend traditional practices - How traditional institutions should adapt to these trends To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Education Loans and Credit Unions: LendKeys’ Partnerships Approach 38:10
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Around the time of the Great Recession, there weren’t many lenders originating educational loans. Most of them had exited the business because of the volatility of the market. This void opened up the perfect opportunity for credit unions to help consumers achieve their educational goals while lowering the average age of their membership at the same time. Vince Passione, Chief Execut ive Officer and Founder at LendKey , joins the show to discuss how his company saw this emerging need in the market and how they work with credit unions to digitally originate and sell in-purchase loans for education among other verticals. We discuss: - Starting out in educational loan refinancing - The trend towards unsecured loans for home improvement - What’s coming in the auto finance space - Working with regulators early and often Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Credit Union Advocacy: Key Areas of Focus to Improve Accessibility 31:56
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Credit Union National Association , or CUNA, represents 5,000 credit unions in the United States serving more than 120 million americans. In partnership with a network of state credit union leagues and associations, CUNA advocates on behalf of its members and works to ensure that they are able to improve their members’ financial well-being and advance the communities they serve. Ryan Donovan , Executive Vice President and Chief Advocacy Officer, joins the show to discuss CUNA’s four primary areas of advocacy. We discuss: - What CUNA does and what their mission is - Emerging consumer lending trends in credit unions - Using AI and ML to improve business strategies - Advice for fintechs that want to partner with credit unions Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Modern Differentiators: Exceptional Experience & Relationship Management 39:00
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Throughout history, most financial institutions have viewed loans as commodity products. Pricing and distribution — the economics of the selling model — have been the primary differentiators when bringing loan products to market. However, according to Richard Wada , Chief Lending Officer at Patelco Credit Union, there’s a huge opportunity to differentiate through exceptional experience, and more importantly, through strong relationship management throughout the borrower life cycle. In this episode, he highlights why it’s such a powerful play. We discuss: - How solid relationship management can be a competitive advantage - Promoting the financial health and well-being of members - How referrals can drive deeper product engagement than traditional acquisition - Having access to members versus self-directed engagement Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Entering a Digital World Through Partnerships 28:46
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It’s tough for smaller credit unions to compete in a digital transformation world. Most of the time, they just don’t have the IT budgets to play in that space. But with the help of credit union service organizations, or CUSOs, and fintech partnerships, credit unions can close the gap in the digital divide. In this episode, Drew Megrey, CEO of Ohio Teamsters Credit Union, shares how credit unions are adapting to a digital world. We discuss: - Why members prefer a personal touch - How credit unions adapted to COVID - Leaning on CUSOs for digitization - Building effective partnerships for the future Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 How Credit Unions Can Prepare for a Successful Future 40:43
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No matter how many shiny advertisements fintechs put out, it would be a mistake to confuse them for omens marking the end of traditional financial institutions like credit unions. Credit unions have been building something for generations no fintech can compete with them on: trust. Fintechs won’t replace credit unions — but the successful ones from both camps will partner with one another. That’s something today’s guest, Dan Berger, President & CEO at NAFCU (National Association of Federally-Insured Credit Unions), is willing to bet on. Over his many years of experience working with credit unions, he’s learned the obstacles facing many — and how they can overcome them. In this episode, we discuss: - The current regulatory landscape for credit unions - Why fintechs can’t capture the trust credit unions have built - How partnering with fintechs enable credit unions to expand capabilities - Why focusing on member needs is paramount to building trust Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Fast, Easy, Simple: Improving Customer Experience in a Digital World 42:17
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When it comes to the future of banking, the best service may be no service at all. In other words, the best service may be self-service. Mark Pregmon, GM of Consumer Lending Line of Business at USAA, joins the show today to share his thoughts on why building things digitally requires a different way of thinking and why making processes fast, easy, and simple is the key to customer satisfaction. At USAA, Mark is responsible for credit underwriting, core servicing, and default management for consumer lending products. USAA has been serving military families since 1922. The company’s goal is to be the military community’s provider of choice for insurance, banking, and financial products. We discuss: - Maintaining focus on the quality of digital experiences - Meeting customer needs in a digital environment - Trends in consumer lending products Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 The Rise of Cloud Core Banking Systems 45:11
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In a digital world, legacy core banking systems just aren’t allowing banks to meet the demands of the modern customer. With the rise of digital banking, cloud core banking systems are entering the picture. Tyler Craft, SVP, Head of VirtualBank & Fintech at First Horizon Bank, shares why his team decided to transition the VirtualBank brand to a cloud core system and how the lessons from that experiment are transferred across the larger First Horizon ecosystem. Tyler heads VirtualBank, a digital-only division of First Horizon Bank. First Horizon Bank has been around since 1864 and its mission is to provide the best service to its customers, one opportunity at a time. We discuss: - The process of transitioning VirtualBank to cloud core - Why VirtualBank remained a separate brand - The thought process behind new products to VirtualBank - Insight into a bank’s fintech strategy Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 The Modern Move Towards Experiential Banking w/ Jim Wechsler at WSFS Bank 32:05
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With the shift to digital, people are coming into retail branches less often — but for more important things. Because of this transition, banks are making the switch to experiential banking — less focused on routine transactions and more on becoming trusted financial advisors. In this episode, Jim Wechsler, Chief Retail Lending Officer at WSFS Bank, shares how his bank has been transitioning to this new model and why he thinks a fintech partnership makes sense. Jim has been in banking for over 10 years. His main focus has been on consumer lending, fintech partnerships, and corporate strategy. WSFS Bank is the largest and longest-standing community bank in the Greater Delaware Valley. Their motto: We Stand For Service. We discuss: - Why partnerships between banks and fintechs can benefit everyone - Transforming retail banking into experiential banking - The value of focusing on the customer experience - Investing in back end processes for a delivery transformation Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 How Fintech Partnerships Can Propel Consumer Lending 56:28
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In modern banking, survival depends on meeting the needs of the modern consumer, whether that’s through digital transformation or through new products and services. But many banks don’t have the capabilities or the resources to manage that on their own. That’s where fintech partnerships can really help move the business forward. In this episode, Barry Cooper, Chief Sales Officer at First Federal Bank of Kansas City, shares his insights into fintech partnerships and how they helped his company enter the unsecured consumer lending space. Barry is an educator, innovator, marketer, and sales leader with a background in cybersecurity and technology before landing in banking. He oversees all lines of business and the go-to-market strategy in his current role. First Federal Bank of Kansas City was founded in 1934 and works primarily as a mortgage lender. It has 11 branches in the Greater Kansas City area. We discuss: - How the pandemic affected consumer lending offerings - Implementation costs, process, and lending product strategy - Gaining internal buy-in for fintech partnerships and partnership expectations - How FFBKC originates loans digitally to acquire more borrowers Link to Webinar Recording with resource materials https://info.upstart.com/ffbkc -webinar Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Economic Inclusion: Developing a DEI Strategy 40:19
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Banks and financial institutions play an integral role in the pursuit of true equality in America. By opening up new opportunities and increasing access to capital, they can build a more economically-inclusive world. In this episode, Sui Lang Panoke, Sr. Vice President - Diversity, Equity, Inclusion at Zions Bank, shares why DEI needs to be deeply integrated into your business strategy to be successful and sustainable. Sui Lang has over two decades of experience fighting for social, racial, and economic justice in the political arena. In her current role, she’s in charge of developing a comprehensive DEI strategy focused on economic inclusion. Zions Bank is one of the oldest financial institutions in the Intermountain West. Dedicated to supporting economic development in the communities it serves, the bank offers a range of financial services across Utah, Idaho, and Wyoming. We discuss: - Establishing trust within a community - How DEI contributes to a high-performance organization - Advocating for a set of values to build economic inclusion - Advice for your DEI strategy Check out these resources we mentioned during the podcast: - Believe in People by Charles Koch and Brian Hooks - Utah Compact on Racial Equity, Diversity, and Inclusion Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Unsecured Lending: How AI Can Broaden Your Product Portfolio 28:02
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Many mid-sized banks are struggling to find new asset classes and new opportunities to offer retail banking services. Unsecured lending has become a viable way for them to broaden their product portfolio on the credit side. In this episode, Jim Matera, EVP/Chief Retail Banking Officer at Apple Bank, talks about how his firm got involved with unsecured lending and how technology is becoming the new driver of loyalty in banking. Jim has been with Apple Bank for over 30 years. Currently, he is in charge of all aspects of retail banking customer delivery systems and services. Apple Bank is the second-largest state-chartered savings bank in New York with over $16 billion in assets. The bank offers a full range of retail banking services to individuals and businesses across the five boroughs of New York City, Long Island, Westchester, and Rockland Counties. We discuss: - Pursuing unsecured lending through fintech partnerships - Opportunities for new lending products - Loyalty in a digital age - Leading with lending over depository products Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 The Evolution of Credit Unions in a Digital World 41:42
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Credit unions maintain a distinct advantage over larger banks. As a community-based institution, they are well positioned to truly understand the unique financial needs of their members. Now, with the proliferation of digital technologies, credit unions can continue to meet the evolving needs of their members — even if they’ve moved across the country. In this episode, Barry Roach, President & CEO at WPCCU, talks about how credit unions are pivoting to meet the challenges and opportunities of a digital world. Topics covered: - What makes credit unions unique - Gaps driving new kinds of lending - The value of loyalty and how to maintain it - The importance of data in decision making Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Unlocking the New Lending Experience: The Innovations of Hybridized Banking 27:28
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Emerging leaders of the consumer lending industry all have a few things in common. On this week’s episode, Upstart’s Senior VP of Business Development, Jeff Keltner talks about what he’s learned from nearly a decade of working in the consumer lending arena, where the industry is advancing, and his forecasts of who will rise to the top of the market. What he talked about: - Differences between the ] phases of fintech innovation - Latest advancements in innovation and digital transformation - Hybridization of fintech and traditional banking OPTIONAL: Check out these resources we mentioned during the podcast: - https://www.linkedin.com/in/jeffkeltner/ Want more lending advice? Find us on Apple Podcasts, Spotify, and here.Listening on a desktop & can’t see the links? Just search for [Leaders in Lending] in your favorite podcast player.…
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1 Accelerating Auto Lending Through AI w/ Val Gui at Upstart 36:23
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Consumers are more comfortable buying online, even big ticket items like cars. A significant impediment to ecommerce in the auto industry is securing the loan and creating a frictionless digital experience. In this episode, we interview Val Gui, Vice President of Automotive Lending at Upstart, about trends in the automotive lending space and get some insight on how he forecasts the future of the industry. What we talked about: - Increased awareness about automotive lending to financial institutions - Consumer expectations for digital experiences - Reshaping the ecommerce mentality in the auto lending space - Trends for the next 3-5 years in auto lending Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Economic Recovery & Regulatory Changes in Lending w/ Rob Nichols at ABA 37:47
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Banks are the economic first responders during our current economic challenges. How do regulations support banks in their work to support Americans? On this episode of Leaders in Lending, we had a fantastic conversation with Rob Nichols, President and CEO at American Bankers Association (ABA) about regulations, economic recovery, and the optimistic future of banking. What we talked about: - Potential policy and regulation changes - The economic landscape in the near future - ABA and their relationship with Fintechs - Future trends in banking and lending Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 Rapid Changes in the Lending Landscape w/ Nat Hoopes 21:37
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The lending landscape is always evolving. Recent changes in government administration, combined with the shifting dynamic of economics in response to the COVID-19 pandemic have accelerated this evolution. Nat Hoopes, Vice President of Government Relations and Regulatory Affairs at Upstart shares his financial lending insight from DC, the changes underway, and the way banking is evolving to keep up with a rapid digital transformation. Tune in to hear about: - A sharp focus on the administration and regulatory changes in DC - Expanding access to credit and lending inclusivity - The ways COVID has accelerated the digital transformation roadmap for financial institutions - How banks and credit unions can evaluate their economic mobility in the communities they operate in - A policy expert’s career advice and perspective and predictions for the future of banking OPTIONAL: Check out these resources we mentioned during the podcast: - Nat Hoopes - Upstart Want more lending advice? Find us on Apple Podcasts, Spotify, and here.Listening on a desktop & can’t see the links? Just search for [Leaders in Lending] in your favorite podcast player.…
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1 Lending During a Global Pandemic: Customers Bank’s Road to Success w/ Sam Sidhu 54:14
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Customers Bank, with a revolutionary crossover between FinTech and traditional banking, is truly disrupting and innovating past the financial industry as we know it. One year later, we look back and ask, how did AI-enabled underwriting models perform in a time of uncertainty? Sam Sidhu, Vice Chairman and Chief Operating Officer of Customers Bank joins us this week to discuss the bank’s enormous success, how they got there, and where they’re headed next. What we talked about: - Lending practices and consumer loan performance during the pandemic - How AI credit decisioning models helped drive strategic growth - Managing risk appropriately during the pandemic - Leading with bravery during a period of societal and economic stress Check out these resources we mentioned during the podcast: - https://www.linkedin.com/in/ssidhu/ - https://www.customersbank.com/ To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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1 How to Serve Customers with Strategic Diversity w/ Nate Longfellow 43:07
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Changing company culture and implementing technology to better align with emerging digital preferences can be challenging but essential to staying ahead of the curve. Nate Longfellow, Head of Digital, Product Strategy and Change Delivery - Home Lending at Wells Fargo, works with business partners and customers to provide them with the right capabilities to succeed. This involves implementing technology, new ways of conducting business, and strategic initiatives working in tandem to produce the best outcome. Nate shares the challenges, strategies, and advice of his experience in four key aspects: - Implementing change within a company using top-down goals - Adjusting company behavior to be more accepting of failure - When to partner, buy, or build internally - Advice and predictions: empowering customers to self-direct To hear more interviews like this one, subscribe to Leaders In Lending on Apple Podcasts, Spotify, or your preferred podcast platform. Listening on a desktop & can’t see the links? Just search for Leaders In Lending n your favorite podcast player.Connect with Nate at https://www.linkedin.com/in/natelongfellow/ .…
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1 Digital Innovation: Adapting and Partnering in a Brick & Mortar Industry w/ Gary Fan 31:58
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For a lot of smaller community banks and credit unions, the COVID-19 pandemic has created unique challenges as the world makes a hard left turn into a more digital focused landscape in every area, including banking. Gary Fan, Executive Vice President and Chief Banking Officer at Gateway Community Bank, joins us to talk about the shift to digital and what it means for smaller financial institutions. Key topics covered: - Shifting to a more digitally enabled world - Balancing traditional offerings with new and innovative products - Why the COVID-19 pandemic forced Gateway to take a look at their digital offerings - The need to adapt and be open to new possibilities, especially for small community banks - Making sure that small financial institutions stick around long term To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Not Embracing Change is the Ultimate Risk for Banks w/ Matt Gallman 31:03
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Because of historically low interest rates, insane levels of liquidity within the banking system, and changing consumer needs, some banks need to find alternative ways to generate revenue. That means embracing change and bringing on new partners. In this episode, we talk with Matt Gallman, VP, Enterprise Risk Officer at Drummond Community Bank, about why the riskiest strategy a bank can take is not changing at all. Key Topics Covered: - Entering the consumer lending space during the pandemic - Advice for banks looking to partner with Fintechs - Getting comfortable with originating unsecured personal loans - Finding best-in-breed solutions through multiple partners Mentioned during the podcast: - The Calf-Path by Sam Foss To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Taking Advantage of Data to Give Customers a Choice w/ Jim Deitch 27:00
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Most banks are sitting on a goldmine of data that could be used expansively across different products and services to build a relationship with their customers for life. Jim Deitch, Founder & CEO at Teraverde Management Advisors, joins us to talk about how banks are underutilizing one of the biggest strategic advantages they have. What we talked about: - The strategic advantage banks have in lending - Why many don’t use the opportunity - How banks can define the best way to innovate - The transformational power of offering customers a choice To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 How Community Banks are Building a High-Touch Digital Experience w/ Dan Pogue 25:08
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Some clients want a 20 minute conversation with a trusted advisor. Some clients want to pick up their phone and get a loan in 5 minutes. Banks that are able to meet both needs have a tremendous advantage over those who primarily provide one or the other. In this episode of Leaders in Lending, our host talks with Dan Pogue, President of Commercial Retail and Small Business Sales at Midwest BankCentre, about the future of digital transformation in banking. What they talked about: - How to prepare employees for digital transformation. - How to integrate new employees into a remote team. - Effective communication tools for a hybrid environment. - How Midwest BankCentre is integrating high touch with digital. Find us on Apple Podcasts, Spotify, or our website. Dan Pogue is the President of Commercial Retail and Small Business Sales at Midwest BankCentre. Formerly executive vice president-commercial banking, his focus has expanded from regional commercial lending and treasury management to include consumer/small business lending and sales as well as all retail branches. Midwest BankCentre is a values based financial institution that influences and advances communities by empowering people, enabling businesses and energizing neighborhoods.…
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1 The Opportunity with AI Driven Lending w/ Paul Gu 34:51
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There’s a lot of buzz about the “artificial intelligence revolution” and the impact it’s going to have on businesses as we know it. As AI and machine learning emerge in the consumer lending space, the technology has proven to provide dramatic wins for both lenders and consumers. So what are companies doing today to help them be competitive and innovative in the unsecured lendingspace? On this episode of Leaders in Lending, we chat with our very own Paul Gu. Paul is the Co-Founder and Head of Product here at Upstart. Paul has a unique background, dropping out of the computer science program at Yale to start an online lending company. We talked all about: - The role of AI and machine learning in lending - Why unsecured loans are a good place to innovate - The need to reduce friction and effort in the lending process - How his organization made the shift from traditional lending to AI lending To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Disruption & Innovation of Banking Business Models w/ Marc Butterfield 37:36
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In a digital world, threats to banking business models often appear on the horizon. How can banks stay aware of trends in future technology that have the potential to become disruptive threats? Marc Butterfield, Senior Vice President of Innovation and Disruption at First National Bank of Omaha, joins us to talk about the digital transformation and how his bank identifies threats and determines how to respond to them. What we talked about: - 3 areas of disruption in banking - How model development and model governance are underappreciated - What people get wrong about digital transformation - The ways in which customer-facing roles are changing To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Consultative Conversations: Bringing Humanity Back to Banking w/ Robert Perrelli 25:32
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Let’s face it. For being an industry that hits people so close to home, the banking and lending industry isn’t one that’s known for its ability to build genuine connections with customers. Not a lot of people seem to have feel-good stories about how someone in the banking industry made their day. But that can change. In a world where more and more people are turning to digital banking products and services, it’s becoming more important than ever before to dial in the customer service. The personal human touch that really makes all the difference. On this episode of Leaders in Lending, we sit down with Robert Perrelli. Rob is a Senior Vice President, and Head of Product and Consumer Lending at TCF Bank. Our conversation on this episode centered around, among other things: - The importance of “consultative conversations.” - How to shift your mindset from being “product centric” to “consumer centric” - How a relentless focus customer service changes the branch employee interactions - Getting buy in from bankers on digital products To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Digitizing for a More Relevant Banking Experience w/ Cathy Myers 27:53
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It’s not necessary to give up the fundamentals of banking in order to bring innovation to the industry. The two concepts are not mutually exclusive. In this episode, we speak with Cathy Myers — Executive Vice President at First Financial Bank with 37 years of experience in the industry — about why we should view “digitization” as simply a modern extension of traditional banking practices. What we talked about: - Staying true to the fundamentals of banking while innovating - Leveraging data to personalize offerings - Integrating digital capabilities with a human advisor - The changing nature of the in-branch experience - Considerations when choosing innovative partners To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Looking Towards the Future of Banking w/ Richard Hunt 21:59
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Banking is changing. The industry is at a transformation point. Consumers by and large have shown that they are ready to conduct their banking online. And the events of the last year have only accelerated this trend. In this inaugural episode, we’re joined by Richard Hunt to talk about what all the changes mean for the future of banking. Richard formerly worked for SIFMA, a securities industry trade association. Now, he is the President & CEO of Consumer Bankers Association (CBA), a trade association focused on the consumer side of banking. Some topics that we covered: How trade associations, like CBA, support the banking industry What the future of banking looks like under the Biden Administration What banks are focusing on as they move to a more digital experience Upcoming priorities for the CBA To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website.…
What does the future of lending look like? And how can financial institutions leverage modern technologies and techniques to bring their programs and products into the digital world? Leaders in Lending, a brand new podcast from Upstart, aims to answer those questions and more by interviewing leaders from across the financial industry about current trends and strategies in consumer lending. In this introductory episode, Jeff Keltner, SVP of Business Development at Upstart and the host of Leaders in Lending, discusses: How Upstart helps banks and credit unions offer seamless consumer lending experiences The trends shaping the lending industry What and who to expect on future episodes of the show Get in touch with the host: Email Jeff Connect w/ Jeff on LinkedIn To hear more insights from Leaders in Lending, subscribe to the podcast on Apple, Spotify, or here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 How Blockchain, Crypto Assets, DeFi and NFTs are Transforming Financial Services 50:29
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In traditional finance, the system runs on a centralized infrastructure and the burden of trust falls on people. In decentralized finance (DeFi), the burden of trust falls on smart contracts and on code. According to today’s guest, Ryan Berkun, Founder & CEO at Teller Finance, financial institutions are going to dive into DeFi in a big way over the next 12 months. Do you need a primer on all things DeFi, crypto, and NFT? Listen in. We discuss: - How lending on the blockchain has evolved - Lending challenges around identity and privacy - The emergence of NFTs and DAOs - How to gain an understanding through hands-on experience Mentioned during the podcast: - Chainlink - Coinbase - MetaMask - Aave - Arbitrum - Polygon - OpenSea To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
We've talked about AI a lot on this show, but we’ve never explained what it is exactly. In this first part of a series of episodes explaining AI, we’re going back to the basics. Host Jeff Keltner, Senior Vice President of Business Development at Upstart, explains the key components of AI, the use cases in lending environments, and some common challenges with machine learning and AI. Topics covered: - Four fundamental components of AI - Use cases in lending - Common challenges - The hard work and dedication needed to get it right To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Safe is Risky: How Lenders Can Embrace Continuous Innovation 39:16
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Banks can no longer afford to play it safe when it comes to their digital capabilities. “Safe” is now risky. That’s why, in this episode, Tony Hejna, EVP, Consumer Bank Chief Credit Officer at KeyBank, joins the show to share the secrets behind moving fast (without breaking things) and maintaining an edge in a highly regulated and increasingly competitive landscape. Join us as we discuss: - The 3 rules of job satisfaction - Why staying safe is risky - "The importance of a robust technology infrastructure" - The threat and opportunity with open banking - "Predictions for the 2022 macroeconomic environment" To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Leveling the Playing Field: How Community Banks Can Use AI to Achieve Personalized and Socially-Responsible Lending 35:49
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Financial institutions, particularly community banks, are experiencing a paradigm shift in the architecture of banking. While the idea of stitching together the banking experience has always been present, we’re finally seeing a truly connected ecosystem due in part to the technological acceleration that’s taken place in the past 3 to 5 years. In this episode, Nitin Mhatre, CEO of Berkshire Bank, discusses the importance of combining automation with personalization and how community banks can go beyond the baseline expectations to facilitate more environmentally and socially-responsible lending. We discuss: - Combining digital and human touchpoints - The importance of a connected front, middle and back-office - Improving financial literacy - How to measure environmental and social responsibility To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 2021 Wrap Up: The Top Bold Predictions in Lending & What’s Ahead in the New Year 28:10
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How we grow digitally and use aids such as AI to accelerate current processes have been hot topics in the finance space for a while. And through the conversations we’ve had on Leaders in Lending, we’ve gained some invaluable insights. In this special recap episode, Jeff Keltner, Senior Vice President Business Development at Upstart, takes the time to discuss the show's biggest themes and some takeaways for the audience. We discuss: Recurring themes gathered from guests & digitization The best career & consumer lending advice & bold predictions for the future What to look forward to next year To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 How Alternative Credit Data is Driving Financial Inclusion w/ Greg Wright 45:08
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Only 82% of the US population can be scored using conventional credit scores. That unscorable 18% is overwhelmingly comprised of marginalized communities—and that extreme disparity is unacceptable in this day and age. However, things are changing. Alternative data sources are opening the door for lenders to offer credit products to marginalized communities in ways that do not create more risk. Lenders have tools at their disposal to drive financial inclusion today—not to mention boost ROI. In this episode, Greg Wright, EVP and Chief Product Officer at Experian, shares some of the approaches for broadening the scorable population while increasing lender accuracy. We discuss: - How new products are driving improvements in credit scorability - The consumer permission model in credit data - The regulatory landscape around credit data sources - Better scoring models built with AI and ML To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 AI & Alternative Data: Having a Clear Idea of Your Ideal Customer w/ Jonathan Gagliano 45:37
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Connecting with new and existing customers for financial institutions has been a challenge to execute. But with so much opportunity, it’s something financial institutions can’t afford to miss out on. We speak with Jonathan Gagliano, EVP, GM Financial Services at Merkle, Inc., about what he sees, what works, and what to look forward to in regards to customer service. We discuss: - The right tech investments to improve the FI customer experience - Trends in messaging to the top-of-funnel-customer - The strategic way to measure success - Optimizing the customer experience journey To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Looking Towards the Future of Banking w/ Richard Hunt 23:22
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Banking is changing. The industry is at a transformation point. Consumers by and large have shown that they are ready to conduct their banking online. And the events of the last year have only accelerated this trend. In this re-run episode, Richard Hunt joins us to talk about what all the changes mean for the future of banking. Richard formerly worked for SIFMA, a securities industry trade association. Now, he is the President & CEO of Consumer Bankers Association (CBA), a trade association focused on the consumer side of banking. Some topics that we covered: - How trade associations, like CBA, support the banking industry - What the future of banking looks like under the Biden Administration - What banks are focusing on as they move to a more digital experience - Upcoming priorities for the CBA To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Balancing Digital Touchpoints & Traditional Offerings w/ Nathanael Tarwasokono 38:36
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In the modern world, financial institutions are looking to strike a delicate balance between offering consumers easy transactional interactions online and offering more relational services by phone or in person. The banks and credit unions that continue to adapt and to figure out how to add value in the way consumers want these days are the ones that will survive in the evolving landscape Nathanael Tarwasokono, President & CEO at Firstmark Credit Union, joins the show to talk about the art of finding balance between what he calls the “bricks and clicks.” We discuss: - Why Firstmark is certifying in-branch staff as financial coaches - New approaches to qualifications for consumer lending - The strategy around being selective about the products you offer - How financial institutions can combat buy now, pay later To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Delivering a Better Digital Experience to Earn Trust & Loyalty 21:50
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Building trust and loyalty in the digital age is an ongoing challenge many businesses face. The question always comes down to: What investments should you be making to enable a digital experience that will leave your customers wanting more? Jeff Keltner, Senior Vice President of Development at Upstart and the host of the show, shares his thoughts on what your financial institution needs to succeed in the modern world. Jeff discusses: - Three things a financial institution needs to offer their customers to earn loyalty - Improving beyonddigital experiences that don’t meet expectations - Three tips for enabling the digital experience - The evolving value of the high-touch, person-to-person experience Mentioned during the podcast: - Episode 27 w/ Vince Passione from LendKey - Episode 22 w/ Mark Pregmon from USAA - Episode 7 w/ Jim Deitch from Teraverde Management Advisors - Episode 3 w/ Robert Pirelli from TCF Bank - Episode 2 w/ Cathy Myers from First Financial Bank To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 How Credit Union Leaders Are Navigating Digital Transformation 56:36
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As community-based institutions, credit unions are well positioned to truly understand the unique needs of their members. With digital platforms and evolving technologies transforming the landscape, credit union leaders have an opportunity to capitalize on the digital wave to grow and better meet the needs of their members - any time and any place. Yet, navigating this new terrain can be complicated. In this episode, Jake Darabos, Chief Financial and Administration Officer, and Chuck Eads, Chief Lending Officer, both with Abound Credit Union, join the show to discuss the digital transformation and how to deepen member relationships. Topics covered: - Investing in analytics and data to improve conversion - How to drive consumer loan portfolio growth and obtain new members - Where consultative conversations fit into a digital world - Strategy around entering into partnerships with fintechs Adapted from the webinar “How Credit Union Leaders are Navigating Digital Transformation: Fireside Chat” presented by NAFCU. To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Digital Banking: Bringing a Human Touch to a Branchless Experience 38:58
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Digital-only banks face a particular challenge: How do you create that human touch without having the physical human touch? As a branchless entity, Axos Bank has been tackling this tricky problem for the last 20 years. Anthony Capizzano, the institution’s SVP of Direct Consumer Lending, joins the show to share the different ways they maintain a high-quality, high-touch relationship with their consumer base. We discuss: - The importance of soft touch points in a digital landscape - Employing product specialists rather than customer service reps - How electric vehicles are disrupting auto lending - Upgrading systems incrementally through smaller value-adds To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Driving Loan Demand Through Marketing Personalization 33:01
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Cash is up and loan demand is down.One way to navigate this challenge is by driving demand through personalized marketing. Personalization is especially effective for credit unions. After all, as community-based organizations, they’re most effective when they are interacting with their communities at all times. Chad Van Handel, Chief Lending Officer at Unison Credit Union, shares why personalization in marketing is so important. We discuss: - Transitioning from an agency to in-house marketing - Community interaction at multiple touchpoints - Using business lending as an income diversification strategy - Near-term opportunities for credit unions to expand To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Product-Agnostic Lending: Focusing on What the Customer Needs 35:39
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The old paradigm in banking involved developing a product and turning to life-stage marketing to sell that product to customers. But that paradigm is evolving. Financial Institutions are identifying customer needs and providing solutions regardless of what the product is, rather than hawking a product In this episode, Ted Krus, Director o f Consumer and Indirect Lending at Flagstar Bank explains the strategy behind taking a product-agnostic approach to product development and customer interaction. We discuss: - Why a product-agnostic approach makes sense - How data is a crucial piece for meeting customer needs - Focusing on the end-to-end customer experience - Managing risk and governance groups during the process Resources mentioned during the podcast: - “What’s a Digital Lending Ecosystem and Why Should Banks Care?” by Alex Johnson To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website. Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.…
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1 Transforming Processes to Improve the Retail Lending Customer Experience 28:13
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Around 15 years ago, non-bank financials had about 20% of the share of mortgage originations. Today, they have over 60% of the share. Why? It’s because they are 100% focused on the quality of the experience. That’s exactly what banks need to do to get back in the game. Matt Cammarota, Head of Retail Lending at Liberty Bank in Connecticut, joins the show to discuss why process transformation, in an effort to improve the customer experience, is vital to success in retail lending. We discuss: - Strategies for navigating the decline in HELOC balances - Building a culture that puts the consumer and the institution first - Transforming the retail lending processes - Making investments in technology to enable different processes Want more lending advice? Find us on Apple Podcasts, Spotify, and here. Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.…
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يقوم برنامج مشغل أف أم بمسح الويب للحصول على بودكاست عالية الجودة لتستمتع بها الآن. إنه أفضل تطبيق بودكاست ويعمل على أجهزة اندرويد والأيفون والويب. قم بالتسجيل لمزامنة الاشتراكات عبر الأجهزة.