Faraday AI

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AI for credit unions

Banks are investing heavily in marketing analytics and artificial intelligence—$2.8 billion in 2016 alone—however only 8% of credit unions said they expected to expand and improve their data analytics capabilities. This differential is a significant competitive disadvantage for credit unions that will impact their ability to acquire, engage, and retain members. This gap can close through the use of of AI and machine learning.

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  1. Acquire

    We know you have valued members and we want to empower you with intelligence to help you find more great members in your chartered counties.

  2. Convert

    Let’s look at who is in your target income range, and who is likely to join credit unions in your chartered counties. We can work to discover this together.

  3. Engage

    Which of your members are in the most need of a HELOC offering or a new credit card offer? We can provide the insights that indicate this.

  4. Retain

    Do you know when your members are going to leave? Let's work together to see why and identify how artificial intelligence can provide a clearer picture on how to address these changes and prevent their departure.

  5. Revive

    Members may have been unaware of your involvement with a 3rd party loan, and once they've paid it off, there is an opportunity to to provide a different loan to them. Let us help you identify those who qualify.

The Faraday platform is core to our operations and has helped reduce costs and increase efficiency

Chief Commercial Officer, finance industry