Ensuring Safety and Soundness with AI

About the Podcast

Learn about common concerns credit unions have with AI and fair lending, and how to ensure success when walking a regulator or outside examiner through AI models during exams. 

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Key Takeaways:

  • [03:48] The regulators are very focused on fairness in lending especially when it comes to using AI and outside models. The industry is moving very fast.
  • [08:25] Articulating a business use case and how partnering with a Fintech can support it is the first step in having a successful conversation with your board.
  • [10:30] Talk to your account executive at your Fintech and have them help you overcome objections. 
  • [15:01] Plan for oversight. It is not set and forget it. Your regulators are going to want to know how you are overseeing that from a 3rd party risk management standpoint.
  • [15:47] Have a handle on your reserves and capacity for lending and start small and grow slowly.

Presented By

Lynn Sautter Beal
Lynn Sautter Beal

Head of Implementation and Success | Upstart

Lynn currently leads teams at Upstart providing diligence, onboarding, and post launch support to 100+ bank and credit union lending partners. Starting in 2019, she built the Implementation and Customer Success teams as Upstart scaled from 200+ to 2000+ employees and went public via IPO in December 2020. Her scope expanded to include the Diligence team responsible for leading prospective lending partners through the review of AI lending and SaaS platform policies & procedures for personal loans, auto refi and retail lending, as well as overseeing the Professional Services team to build API connector strategies to deepen lender customer value opportunities. 

Prior to joining Upstart, Lynn spent many years at JPMorgan Chase in Asset & Wealth Management managing Global Fixed Income Investment Guidelines, Private Banking Discretionary Portfolio Solutions, and Global Portfolio Implementation functions. She holds a Master of Science degree in Data Science with a specialization in Analytics & Modeling from Northwestern University.