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What The Credit Union Industry Thinks About AI And Lending

Zest AI Resources

Zest AI surveyed credit union executives at the big NACUSO Network Conference in Las Vegas in November 2021, asking for their thoughts on lending technology, artificial intelligence, and the state of credit scoring in America. The results were eye-opening. We pulled them into this infographic report.

A snapshot:

- Only 17% of credit unions can approve/deny a loan in <30 minutes.
- 80% say increased use of AI would lead to better credit scoring.
- 67% say that AI underwriting is an investment priority in 2022.
- 45% predict their credit union will end its reliance on FICO within 10 years.
- Only 2% are worried about AI's impact on jobs.

2022 will see major changes in the credit underwriting industry. We'd love to know how these opinions rhyme with your own. If you want a copy of this report, drop us a note! hello@zest.ai