Its entry “Credit Card Pre-Approval Using Machine Learning” showcases Kinecta’s exceptional commitment and innovative use of technology to serve its members.
MANHATTAN BEACH, CA, September 30, 2021 / PRNewswire / – Federal Credit Union Kinecta, a $ 6.5 billion credit union headquartered in Manhattan Beach, California, was announced as the winner of the “Best of Show” award by the CUNA Technology Council at this year’s CUNA Virtual Conference. The prestigious CUNA Technology Council Awards of Excellence identify and honor credit unions that exemplify excellence in technology.
Voted by a panel of CUNA Technology Council committee members and industry professionals, the award recognizes Kinecta’s entry as âCredit Card Pre-Approval Using Machine Learningâ (asset group > $ 500 million), an analytics model to increase credit card acquisition among members who do not currently have a credit card. The goal of this innovative method is to improve product penetration on credit cards by pre-approving members using machine learning without adding excessive risk.
Directed by Sharon mosley, senior vice president and chief information officer of Kinecta, the new model uses machine learning methods to “learn” from existing processed applications and understand how data (without credit report information) correlates to the likelihood of approval of the credit card application. This model can then be used to market credit building products to members who would normally have been turned down because of their FICO score.
âWe are deeply honored to be recognized by the CUNA Technology Council for the extraordinary result of a model of technological transformation that increases access to the credit needed by our members,â said Keith sultemeier, Chief Executive Officer of Kinecta. âI would like to congratulate Sharon and above all Bhavesh Shah, who leads the BI / AI technology team, on this exceptional achievement and contribution to Kinecta’s success. “
For more information on Kinecta, visit www.kinecta.org
About Kinecta Federal Credit Union
Kinecta Federal Credit Union is the 35th largest credit union in the country, with assets of $ 6.5 billion and more than 270,000 member-owners. Our 800+ employees serve members of 32 branches, a variety of specialized offices and highly responsive call centers on both coasts. Banking in the Southern California region for over 80 years, with recent expansion into Northern California, New York and New Jersey, Kinecta offers its members a full range of financial products through Credit Union and its subsidiaries, Kinecta Wealth Management and Kinecta Insurance Services. Daily Breeze readers have named Kinecta as one of South Bay’s best credit unions for the past 10 years, and Kinecta has been voted Easy Reader’s ‘Best Credit Union on the Beach’ 2020.
About CUNA’s advice
CUNA Councils is a collaborative community led by members of credit union leaders offering dynamic peer interaction, new ideas and innovation to foster the professional development of our members while advocating for the overall success of the cooperative movement. credit. There are eight CUNA councils with a network of over 7,300 credit union professionals. For more information visit cunacouncils.org.
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SOURCE Kinecta Federal Credit Union