Predictive analytics

Credit union professionals offered insights into how technology is changing the collections process during the recent National Credit Union Collections Alliance conference in Las Vegas.

During the National Credit Union Collections Alliance conference, experts shared best practices on several topics, including navigating member bankruptcies and positioning auto loans for a downturn.

Getting the right product at the right time to the right member has become the mantra.

Institutions that fail to embrace AI, machine learning and data analytics could quickly find themselves losing ground to competitors.

AI can help reduce risk, make more loans and find ideal members for credit unions.

Credit unions are getting better at using data analytics to pitch loan refinancing options to members, though there are still some pitfalls with the strategy.

The companies have teamed up on a product to help banks, especially small ones, give customers more accurate insights into their own financial health.

OnApproach was launched in 2005, while Trellance was launched just two years ago as a division of CSCU

The bank and card program provider is starting to use AI in many areas, but it's also trying to build paths forward for employees whose jobs will be affected.

A year after buying the artificial intelligence fintech Layer 6, TD Bank is "rewiring how the organization has worked," Gregory Braca says.