Despite significant effort from financial institutions over the past few decades, outdated methods of credit assessment, inefficient technologies, and manual practices continue to create friction in the lending process, limiting millions of Americans’ access to auto loans.
Credit unions are not immune to the challenges facing the financial industry, particularly in the area of indirect lending. As interest rates remain high, borrowers are increasingly turning to consumer-friendly institutions for auto loans with more favorable terms.
But there’s good news. Credit union leaders now have a unique opportunity to leverage a modern loan origination system (LOS) that enables integrations with AI-driven lending tools. With the right LOS, credit unions can tap into these cutting-edge tools in a way that’s more affordable and accessible than ever — expanding credit access for today’s borrowers.
Download this complimentary white paper to learn more about what credit unions can do to benefit from the power of AI and automation.