Conductiv and Credit Unions Drive Growth with Permissioned Data
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%.
"Filene believes that for the credit union industry to keep pace with competition and fulfill its mission to lend across all FICO bands, we must develop the capability to leverage all appropriate data, machine learning, and data science, and incorporate these components into lending operations and practices in a way that is FCRA compliant and fair to the member," says Megan Freshour, Incubation Director. "This Incubator is building a path forward to the future of data and lending."
Gopal Swamy, Conductiv CEO, adds, "We are on a mission to help credit unions win back lost loans and deposits by gathering income, cash flow, and other data digitally. Conductiv helps credit unions do less work, while making more loans, and helps them lend better, faster, and more fairly.”
To learn more see the press release Conductiv Partners with Filene to Create a Custom Incubator Using Lending Data to Drive Growth
