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Sean Flynn, senior director of community financial institutions at TransUnion, stopped by the show to share findings from the Filene Research Institute / TransUnion research paper that explores the technological and data barriers to providing more automated and inclusive credit union lending. The report is entitled: "Beyond Legacy Lending: Strategies for Loan Growth and Inclusion."
Sean provided us with a quick overview of this report, as well as a few takeaways that included:
As the credit union industry rebounds from the unique set of challenges presented by the COVID-19 pandemic, many community financial institutions are recalibrating their growth strategies with an eye toward bolstering inclusive lending efforts.
How credit unions can adapt lending strategies to better compete with the evolving competitive landscape and expand financial inclusion efforts.
He also talked about what sparked the idea to conduct this type of research for credit unions. In addition, Sean discussed the significance of their findings and how credit unions can leverage this information moving forward.
Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.
Mike Lawson, Host
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