TruStage Ventures: Fintech Forum on Empowering Financial Inclusion

Conductiv CEO, Gopal Swamy, joined James Chemplavil, founder of Salus, in an insightful conversation with credit union leaders from GHS Federal Credit Union and SAFE Credit Union.

Elizabeth McClusky, Director of the TruStage Ventures Discovery Fund, hosts the webinar series panel focused on fintech-credit union collaboration to foster lending equity. Topics covered the challenges of misperceptions about the underserved and unbanked, risk mitigation, need for Board buy-in, and the danger of predatory lenders, as well as positive objectives in cultivating lifelong memberships and providing financial education/fiscal wellness to the community.

Gopal explained how digital data collection and easy verification address many of the challenges credit unions face in trying to reach this elusive market.

Shawn Wolbert, CEO of GHS Federal Credit Union, a Conductiv client, discussed how Conductiv helped GHS’s mission of reaching low-income populations, and their experience working with Conductiv.

“With Conductiv being able to verify documentation early on, it makes it easier for the member who’s struggling to get that loan from any other source,” she says.  “It’s been really important for us. It bridges a gap between the member and the loan file and puts the money into their hands for what they need.”

As for results? “We’re seeing more loans, and that means everything to us.” She adds, “Conductiv is continually improving to deliver more and is helping us integrate. They’re ready and able to take our feedback.”

The webinar wrapped up with a look at how AI is impacting the financial services arena.

To view the webinar in its entirety, sign up for the TruStage Fintech Forum Webinar series directly at the TruStage website.