Leaders in Lending

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 businessesThe importance of capital access for underserved business ownersUnderstanding 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 African 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.

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.

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

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

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

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 members 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.

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 How Credit Union Service Organizations (CUSOs) can enable CU success 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.

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

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

 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.

Credit unions can't be everything to their members, so honing in on the products you can specialize in and working with partners to do the rest makes sense. That is exactly what our guest today, Kayla Selhorst SVP Chief Operating Officer at CME Federal Credit Union, has accomplished. Making the lending operations at CME more streamlined allowed the team to make 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.

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.

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.

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.

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

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

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.

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

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

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.

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.

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.

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 

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

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

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

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

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

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

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 Uns ecured lending at Guaranteed Rate, with his vari ed 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

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

Despite a projected economic slowdown, there are many opportunities to get excited about. That was apparent at the Upstart hosted the event- Boosted - the first in a series of annual events to spur conversation and discussion on the future of lending. 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 credit worthy 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.

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.

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.

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.

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.

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.

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.

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, First VP, Consumer Banking 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.

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.

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.

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.

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.

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.

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.

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.

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.

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 Federal, 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 Federal'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.