MeridianLink Executive Summit Recap

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A Confluence of Insights, Innovation, & Networking

On the eve of MeridianLink^®LIVE! in Nashville, our Executive Summit gathered a record number of industry executives, innovators, and experts for an afternoon and evening of insightful dialogue, peer connection, and indulgence in exquisite bourbon. With over 100 registrations, representing a staggering $330 billion in AUM and a combined loan portfolio of over $235 billion, this year's summit included an unparalleled peer group for engaging in industry-shaping discussions.

Here's a recap of the Executive Summit:

Jim Marous Unveils Groundbreaking Research

Renowned industry luminary Jim Marous, co-publisher of The Financial Brand, captivated attendees with an exclusive sneak peek into his latest research report. Presenting pivotal industry trends, challenges, and forward-thinking strategies, Marous laid the groundwork for stimulating discussions and strategic insights to shape the future of banking and lending. He shared a surprising insight that many FIs report they are not as far along their digital transformation journey as they reported four years ago. He hypothesized this demonstrates a deeper understanding that digital progress isn't a one-and-done project but an ongoing initiative.

Stay tuned for the release of The Digital Lending Report, sponsored by MeridianLink, in the coming weeks!

In this riveting fireside chat, Larry Lerner, Partner at McKinsey & Company, and Devesh Khare, MeridianLink's Chief Product Officer, illuminated the transformative potential of artificial intelligence (AI) in driving innovation and strategic decision-making in banking. From tracing AI's historical roots to unveiling key revelations from McKinsey's latest report, the session empowered attendees with actionable insights to digitally progress their banks and credit unions.

While Larry and Devesh illustrated how successful institutions are embracing gen AI, resulting in significant productivity enhancements, they also candidly addressed the challenges of scaling up and the uncertainties surrounding how effectively financial institutions will bring gen AI solutions to market and garner full buy-in from employees and consumers.

Elevate Your Lending Strategy

Guided by the expertise of MeridianLink's VP of Decisioning & Data Science, Omar Shaikh, and Tim Wheeler, Chief Lending Officer at Fortera Credit Union, attendees further delved into the profound influence of AI, this time focusing on its application in credit decisioning. This enlightening discussion shed light on innovative strategies for adapting credit policies, expanding applicant pools, and maintaining a balanced risk approach. Key topics covered included:

• Is AI simply hype or a transformative force in the industry?
• Using AI in credit scoring, highlighting its history, development, and current applications enhanced by modern computational power and data availability.
• How Fortera Credit Union is using Zest AI alongside MerdianLink solutions to improve credit decisioning, efficiency, transparency, and consumer satisfaction.
• Regulatory compliance issues surrounding AI, including fair lending laws, model validation, and governance standards.
• Starting points for integrating AI and data-driven solutions into business practices, weighing the options between building in-house or outsourcing.

Networking & Collaboration

After enriching sessions, attendees had the opportunity to unwind and foster connections over freshly tapped bourbon straight from the barrel. This relaxed setting provided the perfect backdrop for meaningful networking opportunities, paving the way for new partnerships and collaborations extending beyond the summit.

Our Executive Summit served as a powerful demonstration of how people, data, and technology can propel digital progression in lending. From thought-provoking discussions to actionable strategies, this event equipped attendees with the tools and insights to lead their own digital growth initiatives. A big thank you to all who joined and participated. We look forward to welcoming you back next year for another impactful gathering.

Together, let's continue shaping the future of lending!

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