MDT and OnTrac partners to help credit unions build AI readiness

Credit unions are preparing for a major push into AI-driven lending and operations. Member Driven Technologies (MDT) has partnered with OnTrac AI to help these smaller lenders implement artificial intelligence. For retailers who rely on credit unions for consumer financing, this is a signal that your lending partners are becoming more tech-forward. This partnership focuses on helping credit unions move past the 'hype' of AI and into practical use cases. This includes better data management and faster decision-making processes. As credit unions adopt these tools, retailers can expect more streamlined loan originations and potentially more personalized financing offers for their customers. The goal is to make smaller community lenders as efficient as the big national banks. If you currently offer credit union financing at the point of sale, these back-end improvements will eventually translate to better conversion rates. AI can help lenders identify creditworthy customers who might have been flagged by older, rigid scoring models. This technology shift is about making credit more accessible and the application process friction-free for the end user.

Source: Finextra — Lending

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