For at least a couple of decades, credit unions have been told about the treasure trove of data they’re sitting on. Yet, many still struggle with how to make that data actionable. Now there are more and more rumblings about mixing so-called alternative data into the recipe. That may seem a little scary to some.

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.