Conductiv is excited to see the completion of the Filene Research Institute Incubator. The final report documents the value of the Conductiv platform and the lift in loan approval rates and increased efficiency of underwriting teams obtained through the use of consumer-permissioned data. Conductiv addresses key challenges in lending operations related to “stipulation chasing.”
Conductiv has seen significant customer growth during the last year and continues to help CU's achieve “more loans with less work.” Manual stipulation handling is disruptive to loan operations, and by automating this process Conductiv has not only increased approval rates, but has been able to provide AI insights for alternative decisioning.
MeridianLink® announced financial results for Q2 2024 and highlighted their partnership with Conductiv, citing our leadership in providing missing, consumer-permissioned data to meet underwriting guidelines, and in helping customers achieve increases in approval rates without increasing losses. A solid partnership with great results for customers!
Conductiv and partner credit unions presented at the Filene Research Institute SPARK!2024 conference on how using permissioned data can positively impact lending processes and the member experience. The research was part of a Filene Incubator, and the results will provide a framework showing how incorporating first-party data into lending practices can increase approval rates by up to 47%.
The webinar covered the challenges of misperceptions about the underserved and unbanked, risk mitigation, and the need for Board buy-in. Shawn Wolbert, CEO of GHS FCU said “With Conductiv being able to verify documentation early on, it makes it easier for the member who’s struggling to get that loan…It bridges a gap between the member and the loan and puts the money into their hands for what they need.”
Conductiv, Inc, the leader in providing missing, permissioned data and transforming data to meet underwriting guidelines, today announced its partnership with MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies.
Learn how Conductiv provides “white label” access to open banking and alternative data, and AI-driven insights for smaller lenders. This integration with existing Loan Operating Systems (LOS) via their UI, as well as SMS and email, allows Conductiv to become part of the lending process at just the right time, providing a great user experience and getting permissioned data directly to lenders.
Conductiv presented at the Independent Community Bankers of America’s (ICBA) Live conference in Orlando, Florida. The 7-Minute presentation was the culmination of the ICBA ThinkTECH Accelerator program, a first-of-its-kind fintech accelerator that enables community banks to directly engage and partner with innovative fintech companies.
Bant Breen of UNCAGED interviews three industry leaders. Dive into the dynamic world of fintech, and learn about the latest trends and strategies shaping the future of finance. Gopal Swamy of Conductiv shares how technology can help financial institutions make smarter decisions and how FI’s can increase efficiencies and scalability without changing their lending model.
Conductiv has been selected to join the Independent Community Bankers of America’s (ICBA) ThinkTECH Accelerator program, which kicks off January 8, 2024, in Atlanta, GA. Invitees are hand-picked for their community bank-focused offerings primed to support critical community bank needs, including analytics, automation, and compliance.
Gopal Swamy, CEO at Conductiv, stopped by the CU Broadcast Studio Lounge to share highlights and insights from the CUNA Lending Council Conference 2023 session on "ITIN Lending – Helping Your Credit Union Reach Immigrant Communities." Credit unions are both “mission and margin driven”, and many have found that ITIN applicants have lower risk than the average borrower.
Conductiv was featured in a webinar sponsored by Filene Research Institute. We joined Filene to discuss our platform's ability to improve loan approval rates for credit unions via the use of permissioned/first party data. The webinar features Christina Williams, VP Loan Operations at Everwise Credit Union, who has seen an increase in loan approval rates, and a decrease in declined loans due to lack of stipulations.
Conductiv was featured by CUbroadcast at the TruStage Ventures Fintech Summit ‘23. The interview included Gopal Swamy, CEO, Conductiv and Doug Glagola, Director, TruStage Ventures. Mike Lawson of CUbroadcast hosted the interview. Through the TruStage-Conductiv partnership Conductiv is helping credit unions innovate to increase loan approval rates using powerful permissioned data.
Gopal Swamy presents “The power of permissioned data in lending” at the Credit Union Growth Conference 2023 and how this data can provide “more loans (and deposits) with less work.” Permissioned data is detailed and highly descriptive of a member's financial behavior, but it requires members to provide access. This data includes income, debt, and identity, cash flows, payments, and more.
Gopal Swamy, CEO of Conductiv, presents at the Trustage Ventures Fintech Forum on the Conductiv solution and how it can provide “more loans with less work.” This 7-minute presentation provides an overview of Conductiv and discusses customer results showing significant increases in loan approval, income verification, and loan completion rates.
“We’re seeing an uptick in income fraud like we’ve never seen before”, says Don Arkell, the owner of CU Lending Advice and a veteran credit union executive who now helps credit unions with best practices. “Fraud is a constant battle in our business, and it has only increased with the adoption of remote delivery of loans and advances in online services.”
Unless lenders go beyond credit scores and use first party and permissioned data, they will continue to have difficulty approving no FICO and thin FICO applicants. Every lender faces this challenge and at Conductiv, we're proud to be helping CDFIs, credit unions, banks, and fintech lenders provide a better experience to applicants.
It's important for banks and credit unions to safeguard their systems in order to prioritize customer data safety and trust. Have you heard about the fraud butterfly effect? According to The Financial Brand, criminals used to just steal money after breaking into a banking account. Now, they’re grabbing everything they can, even people’s identities.
Conductiv launched its fully integrated solution at MeridianLink Live 2023, showcasing the ability to integrate with MeridianLink Portal. At the event, Conductiv met with many of the MeridianLink administrators, users, and loan officers and discussed how we could integrate as a “plug-in” in a few hours.
In the early stages of the Covid-19 pandemic, traditional banks encountered a sudden need to digitize. These institutions had to turn to new technologies to replace the in-person services that were no longer available under lockdown.
