The Credit Union 2.0 blog gives you all the tools you need to see the forest for the trees.
By W.B. King
Originally published by Finopotamus – Fintech News for Hungry CUs
While most credit unions are using machine learning (ML) and artificial intelligence (AI) in some form, the industry lacks a cohesive strategy. This premise is among themes covered in FinAncIal: Helping Financial Services Executives Prepare for an Artificial World, a new book by Ongoing Operations’ CEO Kirk Drake.
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 decline salvage for fraud prevention, FlexPay.
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 credit union chatbots. Posh Technologies’ conversational AI includes capabilities for web, SMS, social, mobile, IVR, and home digital assistants, such as Amazon Echo and Google Home.
Stay tuned to the CU 2.0 blog while we feature more excerpts from our financial guide to AI!
The pillar of the Credit Union industry is member service. Credit Unions have strong relationships with their members and strive to do what is right. It is a common misconception that Artificial Intelligence will remove the human aspect from banking with a Credit Union. In reality, AI is an opportunity to deepen those already strong member relationships. Artificial Intelligence can automate and improve services delivered to members while also improving your Credit Union’s bottom line.
Implementing Artificial Intelligence at your Credit Union can allow you to:
These are the experiences members are demanding and that Credit Unions must provide in order to remain competitive in today’s banking environment. And, all this starts with data.
Continue reading “Why Credit Unions Need to Implement Artificial Intelligence”