How to Build a 6-Minute Loan Process
About this episode
Jim Marous discusses how a credit union transformed its loan process to just six minutes.
A six-minute loan process comes down to a handful of decisions any institution can make. Jim Marous talks with Adam Cadmus of The Atlantic Federal Credit Union and Benjamin Conant of Alkami about how a $240 million credit union rebuilt consumer lending from the ground up, cutting account opening from two days to six minutes with most loans closing document-free. They walk through the moves that made it work: bringing membership enrollment and lending into one flow, involving risk and compliance from day one, replacing document collection with trusted data sources, and rethinking legacy workflows instead of layering new technology on top of them. Hosted by Jim Marous, Co-Publisher of The Financial Brand and Owner and Publisher of the Digital Banking Report. Subscribe to Banking Transformed for new episodes published multiple times each week. #BankingTransformed #DigitalLending #CreditUnions #LoanOrigination #Alkami
People in this episode
Host: Jim Marous
Guests: Adam Cadmus, Benjamin Conant
Topics covered
- loan process
- consumer lending
- credit unions
- digital lending
- workflow optimization
Keywords
- loan origination
- account opening
- risk and compliance
- trusted data sources
- legacy workflows
Mentioned in this episode
Organizations: The Atlantic Federal Credit Union, Alkami, The Financial Brand, Digital Banking Report
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