Leaders in Lending

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.

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.

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.

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

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

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

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

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

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

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