Keith Connolly is a 32-year-old AVP of Retail Lending with Numerica Credit Union ($1.2M) in Spokane Valley, Washington, USA.
Synopsis: Decentralized underwriting is one of those "old thoughts" that, even just for me to say it, makes a lot of CEO's squirm in their chair. After all, didn't we just spend the better part of two decades moving to centralized underwriting to increase efficiency? Didn't we make this change to better serve our members?
Whether accidental, through complacency, or even maybe on purpose we let centralized underwriting become a "process" in the eyes of the member. Something they had to go through to get what they truly want. What we lost is more important than any benefit we received from making this change. That is member experience.
We turned our employee's into originators instead of lenders, box fillers on a system if you will. They stopped thinking because they didn't have to anymore! This has sacrificed that member experience that we so long for and in turn has made it that much more difficult to grow loans.
The decentralization project that I have been leading here at Numerica takes the best of that "old thought" of decentralized underwriting, adds some new age twists, and turns what we think of as conventional lending on its head! Re-engaging our members at much higher levels, creating loyalty and member retention that we have never seen before, and differentiating ourselves in every one of our market places!
Sound impossible, unrealistic, or just plane unsafe? Check out some of the information in my video and I guarantee you will change your mind!