2023: My Year in Review for Credit Union AI
By Kirk Drake In the rollercoaster realm of fintech, 2023 has been less of a gentle carousel and more of a loop-the-loop thrill ride. While my 2020 tome Financial: Helping Financial Executives Prepare for an Artificial World covered ChatGPT, even my crystal ball didn’t foresee the speed of AI developments in 2023. This year, AI […]
Credit Unions, UPTIQ, and Choosing Your Borrowers
The lending process is improving constantly. Automation, AI, and new underwriting criteria allow lenders to book more loans with less risk every day. These are cherries on top, but they can’t save sub-par loans. Fortunately, some loans are already near perfect as is. Read on to learn more about UPTIQ, the RIAs they work with, […]
17 AI Underwriting Benefits for Credit Unions (feat. Scienaptic)
Underwriting used to be as exciting as watching paint dry. Now, it’s all sci-fi, minus the alien invasion. The reality is that AI underwriting is changing the game for credit unions faster than you can say “automated risk assessment.” We’ve taken a tour behind the scenes at Scienaptic to see how their AI underwriting and […]
Senso.ai and CU 2.0 Introduce CUCopilot: Uniting Credit Unions and Driving Industry Progress Using Generative AI
Senso.ai and CU 2.0, both leaders in bringing AI solutions to the credit union industry, have announced the launch of CUCopilot. This innovative offering, designed for credit unions and by credit unions, aims to drive considerable industry progress by uniting the industry to foster innovation and drive leadership in the financial services sector. Since the […]
AI vs AI: Effectiv’s Battle Against Fraud in Credit Unions
You can’t fight fire with fire, or so the saying goes. But in reality, there are niche cases where that is the exact prescription. As West Coasters, CU 2.0 is more than aware of that… But this isn’t about BCP or disaster recovery! This is about risk, fraud, and artificial intelligence (AI). Read on to […]
Open Banking Solutions and Credit Union Collections
For several years throughout the pandemic, delinquency rates were low. And by low, we mean low low. However, in 2022, we’re starting to see signs that delinquencies are charge-offs are increasing. Of course, there are numerous factors about why delinquencies are rising. And there are many ways that credit unions can support their members as […]
Which Credit Union Jobs Are in Danger of Being Automated by AI?
According to a 2017 Gallup survey, 73 of US adults believed that AI will “eliminate more jobs than it creates,” but only 23% worried about losing their own jobs. Clearly, people understand the theoretical capabilities of AI… but is there a disconnect when it comes to how it will affect them?
Nuance in the Credit Union Industry
At CU 2.0, we look at a lot of different fintechs. It’s our “thing,” so to speak. Often, this means that we’re looking at organizations that aren’t household names—startups, bespoke solutions, newer CUSOs, and companies that are testing the credit union waters.
Autonomous Banking Powered by AI-Based Tools
This piece is based off of a roundtable discussion at the CU 2.0 Brainstorm Event in January 2022. It’s not intended to be comprehensive—rather, it will provide a quick look at emerging trends in autonomous and AI-based banking technology. In this session, the expert panel discusses the advantages and limitations of AI and the role […]
Improving Credit Unions Rewards Programs
Like most Americans, I use rewards cards almost exclusively. Whether cash back, travel perks, or discounts at national and local businesses, I some of the money I spend to come right back to me.