This is an excerpt from FinAncIal: Helping Financial Executives Prepare for an Artificial World. Grab your copy here!
This case study covers the leading player in AI-based small-dollar lending for credit unions, QCash.
Stay tuned to the CU 2.0 blog while we feature more excerpts from our financial guide to AI!
Purveyors of short‑term credit and small‑dollar loans have gotten an understandably bad rap in the last couple decades. And it makes sense—before regulations, some interest rates on these loans went as high as 1,000%. Even today, short‑term loan interest rates climb over 600% in some states. In many ways, the reputation that short‑term credit earned was, well, earned. But it doesn’t have to be that way. And frankly, it shouldn’t be.
Continue reading “AI Case Study: QCash”
This particular case study was cut for space from the book. However, the book features more than a dozen explorations of AI-based fintechs. Stay tuned to the CU 2.0 blog while we feature more excerpts from our financial guide to AI!
Continue reading “AI Case Study: Grain Technologies”
My partner and I would like to buy a house. We’re both Millennials in our 30s and we make enough money to dream about buying a home sometime soon. The problem is that a small fixer-upper where we live costs well over $300k.
Continue reading “Modernizing the Borrower Experience with Nonbank Mortgage Servicers like Valon”
Philadelphia, PA (January 28th, 2021) – RenoFi (www.renofi.com), the leading financial technology company enabling credit unions to offer next-generation home renovation financing, is excited to announce its partnership launch with several new, innovative credit unions across the United States. RenoFi has cemented its focus in the credit union industry in 2020, adding an additional eight credit union partners that are currently offering its next-generation renovation loans. These partners are leveraging RenoFi’s platform to revolutionize the renovation financing experience for their members and beyond.
Continue reading “Innovative Credit Unions Transforming Renovation Lending with RenoFi”
Taking out a home loan is a big step for anyone. As a credit union, you provide personal, community level service that other financial institutions can’t. You probably want your members’ mortgage lending experience to feel as personal as the rest of your interactions.
Continue reading “How to Be a Borrower-First Mortgage Servicer”