Ensuring Safety and Soundness with AI l Upstart 2024
The CU Lab with NAFCU Services
Release Date: 03/25/2024
Meeting & Exceeding Member Expectations with Open Banking l FIS 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and today I am sitting down with Parijat Sinha, Head of Ecosystem Products at FIS, to talk about Meeting & Exceeding Member Expectations with Open Banking. Join FIS expert Parijat Sinha for an informative session to explore: what is driving Open Banking in the credit union market, what the open banking world looks like, how permissioned data and open banking can create opportunity, concerns about the reliability of APIs and the security risks of sharing data with...
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2024 Mid-Year Fraud Review l Allied Solutions 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and today, I am sitting down with Zach Douglass, Director of Bond & Risk Management at Allied Solutions, to review fraudulent activities in 2024. Join Allied Solutions expert Zach Douglass for an informative session to explore: the types of fraud activity they have been seeing most, how to make detecting account takeover attacks easier, if counterfeit US passport cards are a new type of fraud to watch out for, how fraudsters are using corporate and paper checks,...
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The Evolving Role of the CISO: From Technical Expert to Strategic Leader l DefenseStorm 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and today I am sitting down with William Wetherill, Chief Information Security Officer at DefenseStorm, to talk about The Evolving Role of the CISO: From Technical Expert to Strategic Leader. William, it’s great speaking with you, and thanks so much for joining us today. Join DefenseStorm expert William Wetherill for an informative session to explore: how the role of CISO changed from being a technical role to a more strategic one, the key responsibilities of a CISO in...
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Gallagher Executive Compensation and Benefits Survey l Gallagher 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld, with America’s Credit Unions and I’ll be your moderator. Today I am sitting down with Liz Santos, Chief of Staff at Gallagher, and we are going to talk about the annual Gallagher Executive Compensation and Benefits Survey. It’s one of the credit union industry’s premier resources for compensation data. The report provides hundreds of data points for salary, scorecards, retention plans, and more, enabling credit unions to make better decisions for their rewards strategy. We talk about who...
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Democratizing AI: Powerful Regulatory Compliance for Every Financial Institution l Wolters Kluwer 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today, I am sitting down with Aoife May, Market Manager of Compliance Program Management for Wolters Kluwer, who is a trusted leader in compliance management. Today we’re going to talk about Democratizing AI: Powerful Regulatory Compliance for Every Financial Institution. Join Wolters Kluwer expert Aoife May for an informative session to explore: the aspects of today’s regulatory environment that are driving digital and AI adoption, expectations...
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Artificial Intelligence vs. Emotional Intelligence l TruStage 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today I am sitting down with Karan Kashyap, Chief Executive Officer of Posh AI, and Sam Das, Managing Director of TruStage Ventures, and today we are going to talk about Artificial Intelligence vs Emotional Intelligence. Join TruStage Ventures experts Karan Kashyap and Sam Das for an informative session to explore: why both emotional intelligence and artificial intelligence are important for credit unions, some innovative ways credit unions are...
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Manufactured Housing for Home Buyers l Triad 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today I am sitting down with Keith Stayer, Executive Vice President at Triad Financial Services – a specialty finance company serving the manufactured housing industry since 1959. Today, we are going to talk about Affordable Housing and Manufactured Homes. Join Triad Financial Services expert Keith Stayer for an informative session to explore: the history of Manufactured Homes, why buyers should consider Manufactured Homes versus traditional...
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How Credit Unions Can Win in 2024 l Upstart 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today, I am sitting down with Barry Roach and Drew Megrey, Senior Account Managers at Upstart, and we’re going to discuss How Credit Unions Can Win in 2024. Barry Roach and Drew Megrey, Senior Account Managers at Upstart, join the CU Lab to share 'How Credit Unions Can Win in 2024.' They delve into the challenges facing credit unions today, from liquidity constraints to regulatory hurdles. Through their firsthand experience with Upstart, they...
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How to Manage Overdraft with a Fairness First Approach l Velocity Solutions 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m Madeline Kronfeld with America’s Credit Unions, and I’ll be your moderator. Today, I am sitting down with Christopher Leonard, Chief Executive Officer at Velocity Solutions, and we are going to talk about putting fairness first in your overdraft strategy. Join Velocity Solutions expert Christopher Leonard for an informative session to explore: CFPB’s overdraft rule, what most credit unions will do in response, using alternative data to assess creditworthiness in providing overdraft limits and small-dollar, short-term...
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Allied - Covering Your Assets: The Bottom Line on Tracing and Collateral Protection l Allied 2024
The CU Lab with NAFCU Services
Thank you for joining us for another episode of the CU Lab. I’m John Ross with America’s Credit Unions, and today I am sitting down with Scott Myers, 2nd VP of Operations at Allied Solutions, and Mike Batchelor, 2nd VP of Risk Management Product at Allied, to talk about Covering your assets, specifically tracking and collateral protection. Join Allied Solutions experts Scott Myers and Mike Batchelor for an informative session to explore: market trends, which trends Allied tracks causing the greatest implications to auto loan portfolios for credit unions, what credit unions are...
info_outlineThank you for joining us for another episode of the CU Lab. I’m Randy Salser with America’s Credit Unions, and I’ll be your moderator. Today I am sitting down with Lynn Sautter Beal, Vice President of Implementation and Success at Upstart. We are going to talk about ensuring safety and soundness with AI.
Join Upstart expert Lynn Sautter Beal, Vice President of Implementation and Success for an informative session to explore why credit unions are applying AI to lending and how to empower credit unions to regulators and outside examiners through AI models during exams to ensure transparency and compliance. We also discuss challenges and key best practices for credit unions, and how credit unions can proactively prepare for upcoming developments in AI to stay ahead of the curve and maintain safety and soundness.
In This Episode:
[00:32] I am sitting down with Lynn Sautter Beal, Vice President of Implementation and Success at Upstart. We are going to talk about ensuring safety and soundness with AI.
[01:32] She leads Upstart’s customer success implementation programs and professional services teams as well as their diligence teams.
[03:48] The regulators are very focused on fairness in lending especially when it comes to using AI and outside models. The industry is moving very fast.
[04:02] As you are a credit union thinking about partnering with a Fintech look for the expertise within that organization.
[06:49] We have an Upstart diligence data room that is just a retro repository of everything that a credit union or potential partner would want to know about us.
[08:25] Articulating that business use case and then how partnering with a Fintech like Upstart can support that is really the first step in having a successful conversation with your board.
[10:30] If you are a champion of the program and you think this is the next type of right step for your credit union and you know there are objectors, talk to your account executive at your Fintech and have them help you overcome those objections.
[12:02] Lynn shares a recent positive success story.
[13:45] In addition to really knowing your business use case, plan for diligence. Don’t scrimp on due diligence. It will not support you long-term.
[15:01] Plan for oversight. It is not set and forget it. Your regulators are going to want to know how you are overseeing that from a 3rd party risk management standpoint.
[15:47] Have a handle on your reserves and capacity for lending and start small and grow slowly.
[17:31] Making sure you are talking to your peers is really a great best practice.
[17:41] Staying informed and connected will help keep you on the forefront of what is happening.
Links and Resources: