Turning the Annual SMB Loan Review Process into an All-the-Time Review Process. In the first blog of this series, we focused on how innovation in SMB lending will help credit unions and community banks acquire and grow small business relationships. Part 2 of this series will focus on the annual loan review process, and how…
Lending to the gig economy doesn’t have to be difficult! In this post you can expect to learn: What is the gig economy? What are the needs of gig economy workers? How you can innovate your lending practices to accommodate the gig economy. Understanding the gig economy Characterized by freelance and short-term contracts, in a…
JUDI.AI is pleased to announce that last week we were named to the “2021 Emerging Rocket” list for the Information and Communications Technology (ICT) sector. We consider it a true honor to be listed in such amazing company. “After much research into the trends driving growth in the information technology sector, it became clear that…
Acquiring and growing small business relationships. These next few blogs are meant to help credit unions and community banks build out an undisputable business case for making innovation in small to medium-sized business (SMB) lending a top 2021 priority. We’ll start by exploring what it takes to acquire and grow SMB relationships – and…
In a previous post, we discussed what is Artificial Intelligence, and how it relates to SMB lending. We honed in on the importance of properly framing your business problem, and avoiding common mistakes such as the “answer in search of a problem”. To summarize, there is not doubt AI is useful to address many well…
Cash flow data derived from bank statements has become an imperative input to SMB lending. In our previous blog, we argued that the use of cash flow data extracted from bank statements has come of age. Why has this happened all of the sudden? It is new AI and machine learning approaches that have made this existing but under-utilized data source more…
The challenges in small business lending are well documented. And they just got a lot bigger. Small business – and related lending – is a huge segment of our economy and credit landscape. But – amounts are small, information is opaque, making the economics challenging and the customer experience prone to disruption. Risk of business…
Artificial Intelligence (AI) is a much talked about phenomenon these days. Our sense is that for most people it is still a fairly abstract or esoteric idea. We thought we would spend some time breaking it down, specifically as it relates to small business lending. Let’s start with a primer Artificial Intelligence is the science…
2020 was a crazy year There is no need to belabor the point with superlatives. However, some usage data from across the JUDI platform is quite interesting: In April 2020, (as the economy was grinding to a halt and small business lending was being nationalised in both Canada and the US), application volumes fell by…
[Vancouver, B.C., Canada – December 3, 2020]: Interior Savings Credit Union (“Interior Savings”), one of Canada’s leading credit unions, announced today that in partnership with JUDI.AI, it has launched a digitally automated lending solution for small business banking members. The JUDI.AI solution enables current and prospective Interior Savings members to easily apply for a small…