Instant Credit Decisioning: What Every Banker Needs to Know


Instant decisioning has become the norm in multiple loan categories these days. Auto finance companies, mortgage lenders, financial institutions that offer credit cards, and some small business lenders have all harnessed the power of machine learning to zero in on the right lending decision with rules and algorithms. Despite claims to the contrary, automated lending platforms do hold promise to benefit customers, banks, credit unions, and fintech companies alike. To many, the term “instant decisioning” may signal a dangerous lack of control in the lending process. Venkatesh Bala will explain how this is not the case. He will explain how instant decisions in the lending process are based on rules, multifaceted data, and removing the ill-fated human factor from small business lending. Furthermore, he will explain how instant credit decisioning doesn’t undermine customer relationships and, in fact, has the potential to strengthen them. By making the credit decisioning process faster, instant decisioning can benefit banks, credit unions, credit card companies, fintech lenders—and their customers.

Venkatesh Bala
Chief Risk Officer