VANCOUVER, BC, CANADA, June 28, 2023 — JUDI.AI, a leading SaaS small business lending provider for community lenders, announced today that KeyPoint Credit Union, a $1.8 billion credit union in northern California, has successfully gone live with its AI-enabled small business lending platform.
Throughout the pandemic, KeyPoint Credit Union actively supported local small businesses via the PPP program, originating nearly 1,000 PPP loans totaling $77 million – many of them via an online application process. Building on this momentum, the team set out to create a dedicated digital process for small business loans to complement their existing SBA and commercial lending portfolios.
“At KeyPoint, we rely on a unique blend of technology and personalized service experiences to support our members,” said Herman White, Vice President for Business Banking at KeyPoint Credit Union. “At this stage of our small business lending journey, JUDI is the type of innovative partner we’re looking to iterate and grow with.”
“From day one, we knew that KeyPoint was a very progressive organization when it came to technology – as their concept of Next Generation Neighborhood Banking implies,” said Gord Baizley, CEO at JUDI.AI. “KeyPoint represents the true potential for credit unions in the small business lending space, so we’re excited to be along for the ride.”
Small businesses are the backbone of our local communities, but 40-50% of small businesses rank access to capital as their top challenge. Although the economics of small business lending have historically been untenable, mission and profit are no longer mutually exclusive in the digital world. Born and incubated inside a fintech lender, JUDI.AI enables community-based financial institutions to provide a fintech-like experience for small business loans. Combining the speed of consumer lending with the right amount of rigor from commercial lending, our AI-enabled platform uses a unique cash flow-based underwriting approach to eliminate the friction typically associated with small business lending. JUDI.AI pledges 1% of our equity, revenue, time and product to charities of our customers’ choice. To learn more, visit www.judi.ai.
About KeyPoint Credit Union
Inspired by Silicon Valley innovation and built to serve a diverse membership, KeyPoint is a full-service, not-for-profit credit union dedicated to providing financial solutions to help members achieve their goals in life. KeyPoint helps members make the most of their money – earning more on savings while paying less for credit. And KeyPoint is active in the community, providing free financial education programs, as well as fostering financial literacy, sponsoring reading programs and mentoring the next generation of business professionals at local educational institutions. Learn more about Next Generation Neighborhood Banking from KeyPoint Credit Union at kpcu.com.