Together, the panel explores how credit unions can successfully compete against major banking institutions, transition away from manual processes, and leverage next-generation technology to safeguard their portfolios.

Key Discussion Highlights

• The Credit Union Opportunity: While credit unions traditionally focus on consumer lending, the commercial space offers a prime avenue for driving yield and gathering deposits. Larger credit unions have excelled here for decades, and many are now efficiently scaling their operations—even acquiring community banks to absorb established commercial lending teams.
• Fierce Competition & Relationship Banking: Competing against massive national banks requires a strategic approach. While the heavy hitters dominate commercial and industrial (C&I) lending, credit unions can find immense success in commercial real estate (CRE). Credit unions hold a distinct advantage through true relationship banking—building deep, trust-based partnerships over a cup of coffee—that larger institutions struggle to replicate.
• The Danger of Excel and the Shift to Tech: For institutions managing just a few CRE deals, spreadsheets might suffice. However, as a portfolio scales past a couple hundred million dollars, technology becomes critical. The experts discuss why relying on manual spreadsheets is unsustainable and risky, as a single multi-million-dollar bad loan impacts an institution far differently than a standard auto loan default.
• Core Integration & Eliminating Human Error: A seamless two-way flow of data between a loan origination system (LOS) and the credit union's core platform is vital. The guests explain how mapping hundreds of data fields reduces hours of redundant manual data entry, cuts down on human error during loan booking, and gives underwriting committees a comprehensive view of a member's entire relationship.
• AI as an Enablement Tool: Looking toward the future, artificial intelligence is highlighted not as a replacement for relationship bankers, but as a powerful tool to eliminate administrative friction. From automating the spreading of tax documents in milliseconds to providing early warning indicators for portfolio monitoring, AI allows lean teams to cover more ground and proactively manage risk.

The conversation explores Elizabeth’s diverse background, including her time at State Street, her role in scaling Belmont Savings Bank from $800 million to over $3 billion, and her eventually finding her "professional home" within the credit union movement. Elizabeth also discusses her landmark testimony before Congress regarding the ethical use of Artificial Intelligence in financial services.

Key Discussion Points

• A Non-Linear Path to Tech: Elizabeth reveals how she pivoted from journalism and accounting to find her passion in business leadership and technology implementation.
• The Shift to Credit Unions: Discover why Elizabeth initially thought credit unions might be "sleepy" and how her experience at Great Lakes Credit Union completely changed her perspective.
• AI and Advocacy: Elizabeth details her journey to the House Financial Services Committee, where she testified on the impact of AI and the need for balanced regulation that doesn't "handcuff" innovation.
• The "Amazon Effect" in Banking: A deep dive into the technological challenges facing credit unions today, including the need for seamless member journeys and competing with agile fintechs like Chime.
• Women in Fintech: Elizabeth makes a passionate plea for more women to take risks and pursue leadership roles in technology, emphasizing the importance of mentorship for the next generation.

About the Guest

Elizabeth Osborne is a seasoned financial services leader with extensive experience in technology, M&A, and strategic operations. After serving as the COO at Great Lakes Credit Union, she joined Jack Henry to oversee infrastructure, hosted services, and support for the credit union side of the business. She is a frequent speaker on digital transformation and a dedicated advocate for female empowerment in the tech industry.

Featured Quotes

• "Try something new, be a little uncomfortable, that's okay. Because I really believe that that will help open up a lot of doors."
• "I always say there's vendors and there's partners... Jack Henry was always a partner."

Defining a New Resource: Credit Union AI News

Church-Adams discusses the genesis of his new platform, explaining that the pace of AI development is so extreme that traditional news cycles can't keep up. With major updates from entities like OpenAI, Google, and Anthropic happening weekly—if not daily—credit union leaders need a "filter" to understand what these changes mean specifically for their members and their mission. The platform serves as this dedicated portal, offering everything from short, commute-ready audio snippets to deep-dive technical analysis.

AI Across the Entire Organization

A central theme of the conversation is that AI is no longer a "siloed" technology for the IT department. Church-Adams argues that every leader, from HR to Marketing to the Board of Directors, now essentially acts as their own Chief Technology Officer.

• Marketing Revolution: AI allows small teams to create high-quality content and personalized member communications at a speed previously reserved for big-budget banks.
• Lending Efficiency: By integrating AI into backend automation, lending teams can drastically increase approval rates and processing speeds.
• The Executive "Thought Partner": One of the most futuristic concepts discussed is using AI as a strategic collaborator. Church-Adams envisions a "Credit Union AI Employee Number One"—a persona that sits in virtual meetings, identifies risks, suggests process improvements, and builds on the human team's experience.

The Great Equalizer for Small Credit Unions

For smaller institutions, Church-Adams highlights AI as a massive competitive advantage. He points out that a small credit union with limited staff can "gain 10 to 15 new employees" worth of productivity simply by adopting AI tools. Instead of being intimidated by the technical barrier, small teams are encouraged to stand up dedicated "AI teams" of even just a few people to focus on organization-wide implementation and road-mapping.

Orchestration and Screenless Banking

As the industry matures, the focus shifts toward the "orchestration layer." Larger credit unions are encouraged to look at how different AI tools communicate with existing cores and payment processors. Church-Adams also offers a provocative look into the future of agentic AI. He predicts that within the next 15 months, we may see a shift toward screenless banking, where members interact with their accounts through voice-driven AI partners in their earpieces, asking for balances or making payments without ever touching a phone or web browser.

A Prediction Rooted in Mission

The episode concludes with a look at the cultural impact of AI. While big banks may use automation primarily to cut costs and serve shareholders, credit unions are uniquely positioned to use AI to further their mission of "people helping people." Church-Adams believes that if credit union leaders embrace this technology wholeheartedly, they will gain a much larger seat at the financial table, leveraging AI to empower their members in a future economy centered on "compute."

Following a massive year of acquisitions—including Epic River, Janusea, ESQ, and CompuFlex—Baker explains the master plan behind merging these disparate entities into a single, cohesive ecosystem. He breaks down how Kinective is moving beyond simple point-to-point connections to deliver a true enterprise middleware gateway, designed to give financial institutions a "single throat to choke" for all their third-party integrations.

Key topics covered in this conversation include:

• The KBOP Vision: A deep dive into the Kinective Banking Operations Platform, a central hub designed to give credit union staff a unified dashboard for managing everything from loan pipelines to e-signatures.
• The "Phygital" Branch: Why physical branches aren’t going anywhere and how Kinective is blending the digital and physical worlds—like using mobile signatures for in-person teller transactions and high-def devices that let members see exactly what they are signing.
• The Magic of Data Normalization: Why "clean data" is more than just a buzzword. Baker explains how their Datava platform handles the heavy lifting of normalizing data across different systems to create a genuine 360-degree view of the member.
• AI Beyond the Hype: How Kinective is using AI and natural language processing to let credit union employees ask simple questions of their data—like "Who has a CD expiring next month?"—and push those results directly into marketing campaigns.
• ATM & TCR Synergy: The strategic reasoning behind the ESQ and CompuFlex acquisitions, and how managing both ATMs and Teller Cash Recyclers (TCRs) under one roof provides unprecedented visibility into an institution’s total cash position.

Whether you are a credit union executive looking to simplify your tech stack or a fintech enthusiast interested in the future of "middleware," this episode provides a roadmap for how modern institutions can compete with the biggest banks by leveraging data intelligence and seamless connectivity.

Angi and Holly explain that the GTM Loop podcast was created to help fintechs navigate the tactical steps of strategy development, specifically teaching them how to speak the language of the credit union industry. The group discusses why GTM has evolved from a general business term into a vital discipline for launching products in new verticals.

Key Topics Discussed:

• Common Fintech Mistakes: The guests break down where fintechs often go wrong, such as taking a "scattershot" approach rather than finding the right fit, and relying too heavily on a single person’s connections (the Rolodex strategy) rather than building a sustainable process. Angi notes a critical error: using banking terms like "customer" instead of "member" and leading with ROI rather than mission alignment.
• The Power of Small Credit Unions: While many vendors chase the largest institutions, Angi and Holly argue that small credit unions are often more agile and eager to adopt fintech as a growth lever. They advise vendors to evaluate potential partners based on "active members" rather than just asset size.
• Credit Unions vs. Banks: The discussion clarifies the fundamental difference between these institutions. Banks often prioritize bottom-line returns, while credit unions are mission-driven cooperatives where a single member's experience can mobilize the entire team.
• AI and Data Hygiene: The trio tackles the buzz around AI. Holly stresses that institutions cannot successfully adopt AI without first cleaning up their data. They advise against using "AI for AI's sake," recommending instead that credit unions identify specific pain points and involve the staff feeling that pain in the solution design.
• Future Predictions: The episode wraps up with crystal ball predictions. Angi foresees stablecoins becoming the next dominant topic at conferences, while Holly predicts that upcoming changes to Visa and Mastercard interchange rules will fundamentally shift how institutions and retailers approach loyalty programs.

Join us for a conversation that bridges the gap between fintech innovators and the credit union mission.

The conversation dives into the origin story of CAFÉ, which was launched two and a half years ago out of a new fintech innovation hub in Newark, Delaware. It began as a public-private partnership involving Discover Financial, the University of Delaware, and other organizations dedicated to building new fintech innovation that helps people's lives. CAFÉ's primary mission is to advance financial wellness for low to moderate-income people across the US.

Kristen explains how CAFÉ serves the credit union community:

• Connecting Fintechs and Credit Unions: CAFÉ runs competitive Accelerator programs to help early-stage fintech companies, which have been vetted for strong product-market fit, existing customers, and mission-driven culture, accelerate their growth. CAFÉ then introduces these solutions to credit unions looking for innovative ways to help their members.
• Vetting Process: The fintechs undergo a rigorous, competitive process to enter CAFÉ's programs, which includes looking at the business, the product, and requiring them to already have credit union or other financial institution customers. A top priority for CAFÉ is the company's culture, focusing on collaborative, mission-driven people.
• Solutions for Members: The fintechs supported by CAFÉ offer diverse products, including more efficient ways to provide loans to small businesses and individuals, digital banking products, microloan services (like Salus), SBA 7A loans (like Parlay), and tools to help members search for government benefits (like Starlight).

The discussion also covers:

• Technology Trends: The role of technology in helping credit unions digitize their offerings, improve backend processes, and gain better member insights, specifically mentioning AI. Kristen notes that almost every fintech they work with incorporates AI in some way.
• Challenges for Smaller Credit Unions: They discuss the potential for smaller credit unions to be overwhelmed by the number of tech relationships, suggesting collaboration through groups like CUSOs (Credit Union Service Organizations) or partnering with fintechs that come as a package to ease the onboarding process.
• Future Outlook: Kristen shares her prediction for the future, expressing a strong belief in blockchain technology to facilitate instant global payments, improve security through tokenization, and enhance identity management for financial accounts. She also stresses the shift from providing "products" to providing a full experience in members' financial lives.
• Getting Involved: Credit unions can engage with CAFÉ by offering industry expertise as a speaker, becoming a sponsor, or simply by being interested in learning about and potentially partnering with the vetted fintech innovations. CAFÉ also hosts the annual Fintechs and Fairways Conference in Delaware.

To learn more about CAFÉ, you can visit FTCafe.org.

In this episode, host John San Filippo sits down with Michael Duncan, CEO and founder of digital banking provider Bankjoy, to discuss the strategy of vertical banking (also known as niche banking or sub-branding). This approach allows community financial institutions to leverage their existing charter to create a discrete, digital brand that caters to a very specific audience.

You'll learn:

• The Power of Niche Focus: How ignoring 99% of the market can lead to massive growth by focusing on a specific, unmet need.
• Real-World Success Story: The case of Panacea Financial, a digital-only bank serving doctors and healthcare professionals, which achieved over half a billion dollars in assets in just a few years by solving the unique financial problems faced by young physicians.
• Potential Niches for CUs: Other segments credit unions can target, such as military service, teachers, and even specific demographics like women or younger generations (Gen Z).
• Overcoming Hurdles: Mike addresses the common concerns of staffing, marketing a digital-only brand, and the scary part—the technology.
• Technology Simplification: Discover how modern digital banking providers like Bankjoy make it possible for you to launch a new vertical brand in as little as six weeks to three months without having to replace your core system.

Mike's key takeaway for hesitant credit union CEOs? "Don't delay. It's not as big as you think." Start small, experiment, and see if this targeted, personalized approach is the solution to your growth challenges.

You're also invited to download Bankjoys white paper on the topic: How Vertical Banking DrivesGrowth for CommunityFinancial Institutions -Reach New Markets with Targeted, Niche Banking Experiences.

 The Core Problem and Jupid’s Solution

 Jupid aims to close the gap between credit unions and small businesses, particularly new ventures, which often do not view a credit union as their primary financial institution at the company formation stage. The Jupid platform provides a crucial set of tools to help small business owners with compliance, tax filing, and accounting, allowing them to focus on their core business.

 The Member Experience

 For a small business member, the Jupid platform simplifies running a business, promising less stress.

• Formation and Compliance: The platform offers a simple, streamlined process for company formation, with support from the local credit union. It provides a structured timeline of compliance tasks for the year, sends reminders, and can even file documents like franchise taxes on the member's behalf, which can be approved through digital banking.
• AI Assistant: Jupid features an AI assistant, accessible through messengers like WhatsApp or iMessage. This assistant proactively categorizes transactions and can answer business questions on the go. It gains deep context from various sources, including bank accounts, emails, and web searches, to organize operational data, ensure compliance, and streamline financial preparation.
• Integration: Jupid integrates with existing tools like QuickBooks, automating manual tasks that business owners or accountants would otherwise have to do. The solution is also designed to be tightly integrated within the credit union's digital banking experience.

 Business Model and Credit Union Benefit

 Jupid's model is designed to be a "long-term gain" and a "sticky" relationship for the credit union.

• Revenue: The recommended model is a subscription service for accounting, tax filing, and compliance, priced at approximately $50 a month, which is a fraction of the average annual cost a small business spends on compliance. Credit unions receive a 20% revenue share from this subscription fee.
• Acquisition: Jupid offers the company formation service for free if the business owner signs up for a business account and the platform's tax/accounting services, which serves as a powerful acquisition tool. The credit union can also choose to refund the state formation fees as an added incentive.
• Target Market: The platform is an effective tool for credit unions to target their existing retail members who are already running a business through their personal accounts (estimated at around 25% of a credit union's member base).

 Implementation and Partnership

 Jupid is pre-integrated with digital banking platforms like Banno and Q2, with a target implementation time of about four weeks. The ideal credit union partner is one in the $1 to $10 billion asset range that is actively committed to growing its small business presence. Once fully implemented, the platform is designed to be highly self-sufficient, saving credit union staff time.

 AI and the Future

 The co-founders emphasize that Jupid's core technology is a proprietary AI system trained on tax laws. To ensure trust, all critical actions and filings are supervised by internal human accountants (CPAs). They predict that AI will become an expected, pervasive layer in every part of life, including banking, driving the need for personalized, faster, and cheaper services.

The ArcShift co-founders explain that their company was founded to address what they see as a backward trend in the tech industry, where solutions are often driven by vendor incentives and sales quotas rather than customer needs. ArcShift’s mission is to put people back in control of their data and save them money. They emphasize that they are not suggesting organizations should pull everything out of the cloud, but rather advocating for a hybrid approach. This hybrid model allows organizations to keep some functions in the cloud, while moving certain workloads back on-premise for reasons such as cost savings, security, and performance.

One of the main reasons more organizations aren't pursuing cloud repatriation is the strong bias from tech vendors, who profit from the high profit margins and annual recurring revenue (ARR) of cloud services. Cloud companies also make it very easy to migrate data into the cloud with various tools, but make it very difficult to get data out. 

Another factor is that IT professionals may be overwhelmed and hesitant to move their production workloads for fear of downtime or other complications. ArcShift addresses this by providing a platform and toolset that make the repatriation process easy and seamless, including a TCO (total cost of ownership) tool to help organizations assess potential savings.

In addition to cost savings, other benefits of cloud repatriation include enhanced security and better support. In the cloud, hardware is often shared, and there is a risk of misconfigurations or vulnerabilities that can expose data. When a problem occurs, a company with a small infrastructure may not receive timely support from public cloud providers. AI workloads are particularly good candidates for repatriation due to their high cost in the cloud. The cost of running AI infrastructure in the cloud can be "enormously" expensive, and companies are finding that they can buy their own infrastructure for a fraction of the cost and have more control. ArcShift is vendor-agnostic, meaning they do not sell any hardware or software, so their recommendations are unbiased and focused solely on the customer's needs.

Alicia challenges the "Field of Dreams" mentality, where good products are expected to sell themselves. She emphasizes that in today's crowded market, consistent messaging and strategic outreach are crucial.

Key takeaways from their conversation include:

• Building Trust as a Core Principle: Alicia highlights recent data showing trust in an organization and its information as the number one buying factor, surpassing convenience and price.
• The Four Pillars of Marketing Success: She outlines four essential, low-cost strategies:
  1. Define Your Brand Voice: Understand and consistently project your brand's personality across all platforms to build credibility.
  2. Survey Your Audience: Utilize simple, open-ended surveys to gain insights into how customers perceive your brand, why they choose you, and where you can improve.
  3. Invest in a Quality Website: A professional and user-friendly website is non-negotiable for establishing credibility and avoiding distrust.
  4. Leverage Partnerships: Collaborate with trusted organizations to expand your reach and build credibility through association.
• The Intangible Value of Marketing: Both John and Alicia discuss the challenge of measuring marketing ROI, agreeing that not all impactful marketing efforts can be immediately quantified. They also touch upon the evolving landscape of PR, emphasizing the importance of relationships and consistent effort.
• Navigating Generational Differences: The conversation touches on how different generations interact with technology and financial services, from millennials' preference for digital interactions to Gen Z's reliance on social media and the growing use of "buy now, pay later" services.
• The Enduring Importance of Human Connection: Despite technological advancements, both agree that in-person interactions and reliable human support remain vital for building and maintaining customer trust, particularly during critical moments.

This episode offers actionable advice for small financial institutions looking to enhance their marketing efforts without breaking the bank.

We explore how this platform empowers frontline staff with actionable insights and provides senior management with institutional insights by analyzing aggregated data. Tune in to understand ShiftMate's flexible deployment, its potential to replace legacy systems, and Jason's predictions for the transformative impact of AI on the financial well-being of members and the industry as a whole.

VisionFI's core function is to use multimodal AI to read images, photos, and documents, taking unstructured data and bringing structure to it. Chapman provides an example of its original use case: taking a picture of a car's VIN through the windshield to extract the VIN, eliminating manual input. The technology has since evolved to process various documents such as tax returns, operating agreements, and auto loan packages.

A significant use case in auto lending involves members bringing paperwork from a car dealer to the credit union. VisionFI can process this paperwork, like retail installment contracts and buyer's orders, by simply taking a photo, converting what would be a 30-minute manual entry process into an automated input for the LOS. This effectively turns a dealer-financed loan into a direct loan or refinance for the credit union.

Chapman also discusses how VisionFI can be used for loan quality checks, aiming for 100% accuracy rather than sample checks. He emphasizes that VisionFI doesn't add judgment or decisioning but reads information faster than a human, allowing employees to focus on higher-value tasks.

Regarding pricing, VisionFI charges per 1 million "tokens," which represent computational thought and are a measure of AI consumption. Chapman estimates that humans process around 500 tokens per minute, while VisionFI achieves about 26,000 tokens per minute. He suggests that a human's token processing can cost $300-$700 per million tokens, while VisionFI could be $50-$60 per million tokens, demonstrating a significant ROI.

Chapman shares an aspirational use case where VisionFI could allow members to simply send documents like tax returns, pay stubs, or W2s, and the system would automatically convert and input the data into an application, eliminating the need for manual keying and enhancing member service. He also predicts a future where personal consumer tools, like Apple iCloud or Google accounts, will be more integrated with financial services for seamless document sharing and online banking logins.

Credit union executives interested in learning more can contact Ronny Chapman at rc@visionfi.ai or visit visionfi.ai. He welcomes discussions on potential use cases and opportunities to improve member experience.

Parlay Finance offers a front-end intake system, which they call a loan intelligence system (LIS), designed to help credit unions approve more small business loans faster. The system features a small business portal where members can submit inquiries. Using AI, the LIS processes inquiries in 10 seconds or less, with a mission to help small businesses access capital and improve their readiness for loans, while also making the process more efficient for lenders. McLeod states that a small business can submit an inquiry in 15 minutes or less, and a lender can review it in 10 seconds or less. This significantly cuts down on manual work, enabling credit unions to better assist members seeking affordable products to grow their businesses.

McLeod explains that Parlay's LIS is a unique solution addressing the difficulties in small business lending. Historically, lenders have relied on loan origination systems (LOS), which often involve manual and static workflows not well-suited for the flexible needs of small businesses. The LIS acts as an "orchestration layer" that gathers information, identifies optimal product fits, and directs data to the appropriate systems of record, such as the LOS. This automation eliminates much of the initial triage work often done manually via email, phone, or even paper.

The LIS integrates with a credit union's existing tech stack, primarily the LOS, by seamlessly sending information via API. The system ingests core data blocks for every small business loan request, including information on the business owner, the business itself, and the intended use of funds. It also incorporates validation data such as financials and tax returns. Data enters the system through user contributions and user-permitted pulls, such as credit scores (FICO, SBSS), Know Your Customer (KYC), Know Your Business (KYB) permissions, and tax forms. McLeod highlights that the LIS automates these data pulls, streamlining the process for both small businesses and lenders by reducing the need for manual data collection from multiple sources.

Credit unions often seek Parlay when they recognize an "intake problem"—the inability to provide small businesses with quick, digital answers regarding loan qualifications. McLeod emphasizes that small businesses now expect instant online applications or immediate qualification answers, a standard set by online lenders. Implementing an LIS allows credit unions to meet these expectations, offering a faster and easier experience than traditional manual processes. For credit union employees, an LIS transforms their work from hours of manual follow-ups to quickly reviewing processed inquiries, saving time and enabling them to focus on relationship building and providing guidance.

McLeod notes that Parlay typically serves credit unions in the $1 billion to $6 billion asset range, but can support both larger and smaller institutions. The decision to adopt such a system often depends on whether small business lending is a high priority for the credit union's growth strategy. McLeod believes that within the next two years, the challenge of quantifying small business creditworthiness will be "radically changing" due to advancements in AI, which can handle the vast and varied data points involved.

Podcast host John San Filippo recently sat down (virtually, of course!) with the ever-insightful Lee Wetherington, Senior Director of Corporate Strategy at Jack Henry. They were chatting about Jack Henry's brand new "2025 Strategy Benchmark" research, which, as you might guess, polls bank and credit union CEOs on their big priorities. Lee kicked things off by saying the top-line takeaway for everyone rolling into 2025 is a fierce focus on boosting operational efficiency. Apparently, 2024 was a bit rough with downward pressure on net income due to rising costs (think staff, talent, and loan loss provisions), so everyone's looking to tighten things up.

Naturally, this conversation quickly veered into how tech like artificial intelligence (AI), machine learning, and even newer "agentic models" (more on that later!) can help. But Lee, being a pragmatist, pointed out a major "blind spot": Many institutions might not have the data infrastructure ready to actually leverage these cool tools for efficiency gains. He also touched on other big priorities: Banks are all about growing deposits, while credit unions are doubling down on growing loans and, no surprise here, attracting younger members. Lee made a strong case that all paths to growthlead through Gen Z.

Here are some of the top takeaways from their discussion:

• Efficiency is King, But Data is the Kingdom: The top priority across the board is improving operational efficiency. AI and automation are seen as key enablers, but their effectiveness hinges on having clean, accessible, and comprehensive data – a major hurdle many still face.
• All Roads Lead to Gen Z: Whether it's growing deposits or acquiring new members, understanding and attracting Gen Z is paramount. This means seamless mobile account opening (under three minutes!), divorcing account opening from immediate funding, and recognizing Gen Z's unique expectations.
• The "War" for Data: Ask First, Ask Best: With data  so fragmented, Lee emphasized that there's a "war," not just a race, for financial institutions to become the primary data aggregator for their accountholders. This means proactively asking members for permission to consolidate their financial data (with clear benefits like better fraud detection and personalized advice) before competitors do.
• Branches Aren't Dead, They're Evolving: Despite the digital focus, physical branches still matter, even to Gen Z. Younger generations want the option of in-person help for complex issues or advice, making it a "both/and" scenario rather than an "either/or" with digital channels.
• Agentic AI and the Mind-Blowing Future: Lee got pretty jazzed about "agentic AI" – essentially AI models that can not only analyze but also act on information and coordinate with other models. He also touched on the rapidly expanding "context windows" of AI, predicting that within three years, institutions will be able to feed all their data into a model, leading to "speech-to-action" or "text-to-action" capabilities where you can simply tell the AI what you need, and it gets done.

Lee wrapped up by stressing that amidst all the regulatory upheaval and economic uncertainty, financial institutions need to stick to first principles. That means truly knowing your member, which requires data. He urged credit unions to leverage the trust they've built to "ask first and best" for permission to aggregate member data, because you can't be a "fast follower" in the AI game if you don't have the data fuel. 

Chris delves into Apiture's five primary solution sets:

1. Consumer banking services
2. Business banking services
3. Digital account opening,
4. Data intelligence
5. API banking

He emphasizes the increasing importance of a credit union's digital banking platform, suggesting it's now as critical as the core platform itself. The conversation highlights how digital channels are the most significant touchpoint for members today.

A key focus of the discussion is the strategic advantage of integrating digital account opening with the overall digital banking platform. Chris explains how this creates a seamless experience for new members, allowing them to establish credentials for all services from the outset and providing valuable data for tracking marketing effectiveness.

The episode also sheds light on the nuances of business banking, an area where Apiture has a long-standing presence. Chris points out the distinct needs of business members, such as complex payment options (ACH, wires) and sophisticated entitlement structures for employees, which differ significantly from consumer banking. He notes the growing trend of credit unions focusing more on serving businesses, recognizing the opportunity for new loan types and member growth, and solidifying their role as community anchors. The discussion also touches on identifying business accounts that might be currently operating under consumer account profiles.

Looking ahead, Chris discusses the transformative potential of artificial intelligence (AI) in digital banking. He outlines two dimensions: leveraging AI to improve software development processes internally and incorporating AI into client-facing solutions. Examples include a "data explorer" capability allowing natural language queries of data and the future possibility of highly personalized banking experiences and even "prompt-based banking," where members interact with their finances through simple language commands.

Ultimately, Chris envisions a future where credit unions can offer "super personalized experiences" to individual members, leveraging data and AI to truly understand and cater to their financial needs, thereby strengthening their unique position in the market. He concludes by expressing his excitement about the capabilities Apiture has built to support the business of credit unions.

Key takeaways from the discussion include:

• Market Need: SMBs require more than just basic transaction capabilities; they need tools for invoicing, expense management, payroll, and cash flow analysis. Simply offering a retail digital banking platform is often insufficient and risky, as business needs differ significantly from consumer needs.
• ebankIT's Solution: ebankIT provides a comprehensive digital banking platform that supports various business lines, including consumer, small business, and corporate accounts. Their platform can be deployed specifically for business banking, even if a credit union retains a different provider for consumer accounts. A key feature is the ability to offer a single login for members to access both personal and multiple business accounts, improving user experience.
• Strategic Approach: Provenzano emphasizes a "platform" approach over a simple "service," advocating for flexible, open API systems that allow integration with various third-party fintechs catering to specific business needs (like onboarding or specialized payments). He stresses that technology should empower the credit union's business strategy, not limit it.
• Market Segmentation: Credit unions should segment the business market (e.g., by size, industry) and tailor digital offerings to the specific banking requirements of each segment.
• Revenue & Value: Business banking offers fee income opportunities, potentially through tiered or subscription-based models providing access to more advanced tools. The goal is to become the "digital front door" for a business's financial operations, increasing stickiness.
• Implementation: Successfully entering or expanding SMB banking requires not just technology but also a potential cultural shift and clear business strategy within the credit union.
• Future Trends: The future involves leveraging data for predictive analytics, such as cash flow forecasting, to provide deeper business insights directly within the digital banking platform.

Overall, the episode argues that with the right strategy and technology platform, credit unions are well-positioned to capture a larger share of the profitable SMB market by offering tailored, technologically advanced digital banking solutions.

Har Rai explains the reasons behind account dormancy, highlighting the difficulty of switching banking relationships and the lack of guidance provided by many financial institutions. He details how Swaystack works for both indirect auto loan members and new checking account holders, among other use cases, emphasizing personalized communication, automated loan payment setup, and seamless integration with digital banking platforms.  

Har Rai also dives into the technology behind Swaystack, its integration process, and how it provides value for various departments within the credit union.  He also discusses the company's scalability and plans for future growth.

 Fiore recalls the limitations of PC banking in the mid-90s: expensive dial-up, cumbersome software updates, and complex distribution. He had an epiphany when he first saw a web browser, recognizing its potential to revolutionize banking. While at XP Systems, he secured funding to launch Digital Insight, a company dedicated to browser-based banking.

 A crucial aspect of Digital Insight’s strategy was partnering with competitors. Fiore recounts the story of securing a deal with Symitar, a major competitor to XP Systems. He strategically leveraged a key client to get a foot in the door and ultimately convinced Symitar’s leadership that partnering was in their best interest. This partnership proved vital for Digital Insight’s widespread adoption within the credit union space.

 Beyond Digital Insight, Fiore has explored diverse ventures, including restaurant investment and film financing. He briefly touches upon these experiences before shifting to his current focus: CU WealthNext.

 CU WealthNext is a collaborative platform designed to empower credit unions in the world of wealth management technology. Fiore explains the challenges credit unions face:

• Vendor Selection: Choosing from a multitude of fintech providers can be overwhelming.
• Integration: Piecing together disparate solutions can create complexity.
• Member Needs: Keeping pace with the evolving demands of younger demographics requires constant innovation.

 CU WealthNext addresses these challenges by aggregating a curated collection of wealth management fintech products. This simplifies vendor selection and streamlines integration for credit unions. Fiore also highlights CU WealthNext’s focus on financial literacy and incorporating safeguards into the offered products, particularly for crypto, recognizing that not all members are sophisticated investors.

 Fiore then analyzes the broader competitive landscape, noting the shift from banks as primary competitors to fintechs targeting consumers directly. This presents a new set of challenges for credit unions, demanding agility and a deep understanding of member needs. He offers key takeaways for credit union leaders:

•  Leverage CUSOs: Collaborate with credit union service organizations to gain access to technology and share the burden of due diligence.
• Understand Younger Members: Focus on attracting and retaining younger members by understanding their tech needs and preferences.
• Embrace Fintech Partnerships: Partner with fintech entrepreneurs to access innovation and expertise.

 Fiore’s insights provide a valuable perspective on the challenges and opportunities facing credit unions in the rapidly evolving financial technology landscape. He stresses the importance of adaptation, collaboration, and a constant focus on meeting the diverse and ever-changing needs of their members.

While artificial intelligence is no silver bullet, it can help credit unions take a giant step forward in making use of all that data. Our guest on this episode, Mitch Rutledge from Vertice AI, is here to talk about how AI can help drive member growth. Perhaps even more important is the scalability of the Vertice platform. Rutledge says his company serves credit unions ranging from $30 million in assets to more than $5 billion.

Listen in if you want to turn your data into member growth.

Rindone also discusses a developing partnership with Reseda Group to provide instant funding to dealers, making the process even more attractive. He emphasizes the importance of credit unions educating their members about this new, streamlined process.  Rindone predicts that credit unions using solutions like FastPass will regain lost auto loan market share throughout 2025.  He advises credit unions to analyze their potential auto loan opportunity and track how many members purchase vehicles using financing elsewhere, then develop targeted programs to capture that business.

• Integration difficulties
• Member experience
• Cost 

Older systems struggle to integrate with modern application program interfaces (APIs) and services like Plaid, fraud detection tools, and alternative data sources. This lack of integration slows down loan processing, increases manual work, and frustrates members, especially younger, tech-savvy Gen Z members who expect seamless digital experiences. Trying to piece together multiple systems and vendors for things like point-of-sale (POS) lending and digital banking also drives up costs and creates further inefficiencies.

Jain told host John San Filippo that Algebrik’s new LOS seeks to solve these problems by offering a cloud-native, AI-powered platform that’s designed to be flexible and easy to deploy. 

• Why these loans offer your members the lowest possible payments of any financing product, including leasing.
• How these loans can be used for both new and used auto financing.
• How these loans can be used for both direct and indirect lending.
• How these loans can even be used to refinance a delinquent loan down to a lower payment.
• Why AFG technology eliminates all the risk for your credit union.

CEOs, CFOs and CLOs, don't miss this episode.

On a seemingly separate track, there’s never been more emphasis on financial inclusion than there is today.

Finally, we can’t forget the artificial intelligence elephant in the room. AI is everywhere. Does your credit union have an AI strategy? Do you even need an AI strategy? Or will AI slowly get baked into all the technology products you’re already using 

At no more important a point do these three topics converge than with loan decisioning and risk management. How can your credit union grasp all the data it has at its disposal, apply advanced AI technology, and use the results to serve more members.

On this episode of TechSolutions4CUs, host John San Filippo talks with Tom Tobin, CEO of Modelshop, about his company’s new white paper Innovation & Inclusion in AI Credit Risk Models. In the process, the two provide credit unions with some important and enlightening information.

It only makes sense that the more business services you provide, the more business members you can attract and, in turn, the better you can serve your community. Of course, the trickiest part of serving small businesses is the lending piece.

 Fortunately, we have on this episode of TechSoloutios4CUs Mr. Will Tumulty, who leads a business lending company called Rapid Finance. Will is truly an expert in the field of commercial lending and will enlighten us on these and many related topics.

 We’re very excited to share this conversation with you.

• Why Tulare County FCU decided to go shopping
• What the search process looked like
• Why the credit union ultimately chose Jack Henry's Symitar platform
• The pros and cons of using consultants
• Managing core and digital banking conversions at the same time
• How Tulare County FCU measures success
• Working with Jack Henry as a partner
• Lessons learned and advice for others

This episode is sponsored by Jack Henry, creators of the Symitar core processing platform.

• Why Numerica decided to go shopping
• What the search process looked like
• Why Numerica ultimately chose Tyfone's nFinia platform
• The ups and downs of the implementation
• How Numerica measures success
• Working with Tyfone as a partner
• Lessons learned

This episode is sponsored by Tyfone, creators of the dramastically better nFinia digital banking platform.

• What makes TechSolutions4CUs different from every podcast in cyberspace,
• A profile of who our guests will be,
• The topics we'll cover, and
• How you can get involved.

For more information, email John at john@finopotamus.com.