“Alexa, tell me the best auto loan.”

Advances in artificial intelligence (AI) and voice recognition technology are recent examples of the growing effect that fintechs continue to have on credit union lending.

For instance, Square’s decision to file for a bank charter and ongoing partnerships between fintech and financial industry stalwarts are reshaping our industry and how we interact with members today and, more importantly, in the future.

To help assess this dynamic industry, here are a few questions credit unions can ask when considering new technology solutions to enhance their lending process:

 

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