originations

SMBC ManuBank CRO Mike Leary joins the podcast this month to discuss the relationship between risk and financial institutions in today’s economic environment. Mike and Craig discuss the lesser-known risks impacting portfolios today, including hidden buy now, pay later loans and credit score inflation. Mike weighs in on positioning a card portfolio in uncertain times; explains why some banks are using credit cards as transactional products; and stresses the need for working tools to properly assess the stability of consumer credit scores. Josh asks for Mike’s opinion on which market innovations hold the most promise or red flags, and Mike ideates on what younger generations of employees can do to be successful in today’s unusual workforce. Plus, Mike thinks back on his time as a collegiate cross country athlete and how a team-oriented mentality has helped positively shape his career. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

TransUnion SVP of Auto, Satyan Merchant, joins Craig and Josh this month to discuss emerging trends within the US auto financing market. We begin with Satyan touching on today’s top auto industry headlines — from supply chain issues and high interest rates impacting consumer affordability to major shifts in market share. Satyan describes how technology-forward dealerships and lenders are modernizing the industry by offering online-to-offline car shopping experiences, and shares how lenders should be thinking about the growing number of credit-active Gen Z consumers. Josh and Craig ask for Satyan’s opinion on the future of vehicle values and supply, and what that means from a credit standpoint; they discuss the return of incentive programs; and Satyan draws comparisons between the auto and mortgage financing markets. *Plus, take a look at the TransUnion study Satyan references in the episode: https://www.transunion.com/lp/impact-of-unsettled-vehicle-values The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

TransUnion Head of US Government Relations, Allison Shuster, returns to Extra Credit this month to discuss the political and legislative activities currently impacting the US financial services industry. Craig and Allison start by discussing the proposed Fair Credit Reporting Act (FCRA) rulemaking process expected to take place later in 2023, whether government partisanship is as challenging as it’s portrayed in the media, and how legislators are turning to the private sector to help inform policy decisions. Next Josh and Allison talk about the major focus areas for regulators that might not be as headline-grabbing, including a politically-stalled federal privacy standard and AI governance concerns cropping up in both the Senate and Congress. Finally, Josh asks Allison how the upcoming presidential election cycle will impact the pace of legislation; they discuss how states are looking at the use and treatment of medical debt on the credit file; and Allison urges listeners to pay attention to the uptick in agency activity (particularly from the CFPB and FHFA) within the housing market. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

Joining Craig and Josh this month is Melissa Koide, Founder and CEO of FinRegLab — a nonprofit organization that tests and researches technology to help inform public policy and advance financial inclusion. Melissa touches on some of FinRegLab’s key initiatives, including the use of cashflow data to predict credit risk and assess populations with limited or no credit history; new research the organization is doing on machine learning algorithms being used in financial services; and a partnership with Kenya’s government, banks and bureaus to determine the optimal data insights needed for credit risk assessing women-owned small businesses. The group also discusses regulatory uncertainties keeping the financial industry from wider adoption of new types of data, and muses over the laws and regulations that could one day surround artificial intelligence and platforms like ChatGPT. Finally, Josh tests Melissa’s Kentucky knowledge with some light trivia about her hometown. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

In this month’s episode, credit union leaders Kaylyn Leese and Michael Kelly join Craig and Josh onsite at TransUnion’s 2023 Financial Services Summit in Chicago. Kaylyn and Michael begin by sharing what they’re excited about within the lending space followed by a discussion of the challenges credit unions are up against — including a competitive market and balancing new technology — as they pursue opportunities to support their members and communities. Our guests then weigh in on the pressure credit unions are facing to deliver high-touch, digital experiences; Josh wonders how each of their credit unions is handling change management initiatives; and the group discusses how automating processes can be very positive for employees willing to take on new skills and grow in their careers. Plus, Craig and Josh are put to the test when Kaylyn and Michael ask some questions in return! Our hosts offer their perspectives on the future of the mortgage industry, as well as explore potential fraud concerns that could arise from growing consumer pressures around immediacy in lending. Finally, to celebrate recording onsite in Chicago, Craig and Josh quiz our guests on some fun Windy City history. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

This month on the podcast, TransUnion Chief Information and Technology Officer Abhi Dhar joins Craig and Josh to discuss how credit lenders are contending with technology enablement trends in the financial services industry. Josh and Abhi kick the conversation off by examining the global business drivers impacting how organizations — and especially leadership — are thinking about technology. Abhi notes how the pandemic accelerated cloud adoption for many financial institutions, and emphasizes how important it is for business leaders to appeal to engineering talent. Abhi then addresses what lenders can do to better adapt to these significant market changes, and Craig asks Abhi for his opinion on how tech can improve global consumer access to financial services or financial outcomes. Finally, Josh tests our guest’s knowledge of an old favorite band of his: The Chemical Brothers! The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

After focusing on market forecast trends in last month’s episode, Craig and Josh are diving deeper to examine the competitive dynamics currently facing issuers — and how technology is shaping that competition. They are joined by David Shipper, a strategic advisor at research firm Aite Novarica with expertise in the card and payment space. Josh and David start by discussing the power of convenient payment methods, and how alternative digital payment apps are creating shifts in the market. David points out key customer-centric trends being overlooked by many financial institutions, while highlighting opportunities for banks willing to examine their own internal processes and digital strategies. Josh and Craig then ask David to share his advice for smaller FIs without large tech budgets, and the steps they can take to compete for market share; they discuss the growing number of partnerships between fintechs and banks; and Craig and David discuss banks’ debit card and deposit populations as a source of potential card growth. Finally, David dominates Josh’s credit-themed trivia questions! The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

To kick off our first episode of the year, TransUnion’s Michele Raneri (VP of Financial Services Research and Consulting) and Kathy Maffei (Sr. Director of Argus Advisory, a TransUnion Company) join this month’s podcast to share their predictions for 2023. Michele begins with a conversation on originations and delinquencies in the personal loan, mortgage and auto industries, and the resulting impact they could have on consumer credit health in the US. She and Craig discuss how consumers are still quitting their jobs in record numbers — despite believing a recession is coming — and what that means for consumer confidence around personal finances. Michele also explains why she believes the auto industry will see a much-needed bolster in 2023, while the personal loan sector could be facing some challenges. Next, Kathy and Josh look at the growth and strength of credit cards and deposits in a post-COVID rate environment, with Kathy noting banks should be focused on the ‘total customer perspective’ by emphasizing customer loyalty with multiple products across a singular financial institution. Kathy and Josh also discuss the importance of continuing to grow balances amid challenging credit losses, and the opportunities credit card issuers can find simply by focusing on the middle of their portfolios. Finally, we get to know Michele and Kathy a little better in a lightning round of questions on their favorite topics (outside of financial services, of course): running and geography! — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

To close out the year with a bang, December’s Extra Credit episode is a double-header. Paul Siegfried, TransUnion Head of Card and Banking, joins Josh and Craig for a two-part podcast where he shares his perspectives on current consumer and competitive trends in the credit card market, and how issuers can differentiate and position themselves for growth. Part two of episode 12 kicks off with the second half of the car-themed trivia before honing in on competitive pressures facing different card issuer segments as they position themselves to acquire and retain customers, transactions and balances. Paul explains the practical value of using trended credit and alternative data to better know and understand consumers — and why that’s critical to winning share of wallet. He also offers a personal take on generational differences in consumer expectations for credit and credit products. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

To close out the year with a bang, December’s Extra Credit episode is a double-header. Paul Siegfried, TransUnion Head of Card and Banking, joins Josh and Craig for a two-part podcast where he shares his perspectives on current consumer and competitive trends in the credit card market, and how issuers can differentiate and position themselves for growth. In part one of episode 12, the conversation explores the financial health of the American consumer and credit market dynamics, including how issuers are faring relative to other lending institutions, and what they’re thinking about as they look to 2023. Paul also reveals what issuers should expect from fraudsters and offers thoughts on how to best mitigate risk. Plus, in true Extra Credit tradition, Craig gets Paul’s motor running with some hard-driving trivia on one of Paul’s favorite subjects. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

The credit card market is the focus when Craig and Josh sit down with Bill Bostwick, Senior Vice President and Head of Atlanticus’ card division. A veteran leader in the card space, Bill brings deep experience to his role as he partners with banks, retail and healthcare organizations to help the financially underserved manage their financial well-being. This conversation discusses upcoming challenges in the card market, and explores how the industry can address potential obstacles — for both issuers and consumers — as the economy continues to evolve. Reflecting on recent trends and what they foretell, Bill shares valuable insights on market dynamics and whether issuers are prepared to manage through a downturn. He talks about different ways to use data, and suggests the rising importance of alternative data — especially as consumers consider alternate financial solutions as inflationary pressures start to hit. He also covers consumer performance and support, including the need for better and more widespread financial education. Plus, Craig challenges Bill on the gridiron with hard-hitting trivia questions about his favorite NFL team, the Chicago Bears. For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

To gain perspective on where our economy stands and where it’s headed, we’re delighted to welcome Ryan Boyle to this month’s podcast. A macroeconomist at Northern Trust — and TransUnion alumnus — Ryan brings deep knowledge and practical insight on multiple forces at play, giving us a better understanding of what’s actually happening and how. In this episode, Josh and Craig ask Ryan about the current state of the US economy and how it fits within the global context. Ryan shares his perspectives on labor and employment trends, supply chain issues, inflation — and the implications for consumer lending. He adds context to today’s dynamics by looking back at how previous global events affected the US economy. He also shares his longer-term concerns for future economic impacts. Plus, Josh tests Ryan’s memories of his days at University of Chicago with trivia questions about distinguished alumni, campus life and more. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

We’re thrilled to welcome guest Rahul Gupta to this month’s podcast! Having worked in financial tech, banking and payments spaces since the 90s, Rahul brings a wealth of information and insight to the table — and has many thoughts on what card lenders should expect in the coming decade. In this episode, Craig asks Rahul how new developments in the payments space could impact card lenders — which leads to the group discussing whether Payment-as-a-Service (PaaS) might become an expansion of card wholesale for vertical-based lenders. Rahul alludes to a technology revolution in which all industries eventually offer embedded payments options — from ecommerce to healthcare to B2B. Then, Josh asks Rahul how technology stacks and services will change for financial institutions (FIs) over the next 5–10 years, and Rahul weighs in on questions around specialization regional banks and credit unions should be asking themselves. Plus, Josh quizzes Rahul on California-related trivia, and Rahul offers advice to those still in the first half of their careers. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

TransUnion’s Jason Laky (Executive VP of Financial Services) joins this month’s episode to discuss the state of the financial services industry — now that we’re just over halfway through 2022. Craig and Josh inquire about consumer credit health, which Jason says is in very good shape despite a turbulent economy. Jason looks back on some industry predictions he made earlier in the year, including those regarding auto and mortgage markets, and supply and demand of consumer credit cards. Then, Craig and Josh open the floor to discuss risks and opportunities for lenders across various financial products; and Jason discusses the likelihood of a recession. Plus, Craig quizzes Jason on Dallas Cowboys trivia and international hockey standings; Jason shares his expert recommendation of the most underrated city in Europe; and explains how he’s teaching his college-aged kids about the stock market. For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

TransUnion’s Rachel Goldberg (Global Head of External Affairs) and Allison Shuster (Head of U.S. Government Relations) join the podcast this month to discuss US policy initiatives affecting the financial services industry, as well as the current regulatory landscape in Washington D.C. In this episode, our guests touch on the debate regarding a federal privacy standard and how difficult it’s been for legislation to pass at a federal level. Allison weighs in on possible regulatory impacts should control of the legislative branches shift during the midterms; Rachel shares her thoughts around financial inclusion efforts from the Biden administration; and there’s discussion on how inflation strains are affecting policy decisions. Plus, Josh is curious about Rachel’s view on policymaking re: financial institutions sharing consumer data; Allison discusses privacy initiatives at the local level; and Craig and Josh test Rachel’s and Allison’s knowledge of sports and restaurants in the D.C. area. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

This month, we’re seeing double with two guests and two episodes! Joining Craig and Josh are Karen Andres (Director of Policy and Market Solutions and Project Director of the Retirement Savings Initiative at the Aspen Institute Financial Security Program) and Josh Sledge (Senior Director of Incubation at the Filene Research Institute, a “think and do tank” in the credit union space). In part two of this month’s episode, Craig asks Karen and Josh S. to offer opinions on the government’s role in regulating financial products. They also discuss the importance of truly understanding consumer outcomes. Our guests then think back on financial products that never quite took off, as well as small ideas that turned into something much bigger. Finally, host Josh finally learns about the origination of the 401k, and Karen and Josh S. talk about exposing their kids to financial concepts from a young age. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

This month, we’re seeing double with two guests and two episodes! Joining Craig and Josh are Karen Andres (Director of Policy and Market Solutions and Project Director of the Retirement Savings Initiative at the Aspen Institute Financial Security Program) and Josh Sledge (Senior Director of Incubation at the Filene Research Institute, a “think and do tank” in the credit union space). In part one, Karen and Josh S. explore how the approach to financial inclusion has evolved over the decade — specifically regarding the role of financial institutions. Karen discusses the Aspen Institute’s recent call for the Biden administration to establish a presidential council on financial inclusion, and Josh S. talks about Filene’s recent focus on providing credit unions with tools to improve members’ financial health. Plus, our hosts try to stump Karen and Josh S. with Michiganian trivia, and everyone gets derailed talking about subscriptions from Taco Bell. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

Jason Mikula is on the podcast this month! Having spent more than decade building and scaling consumer finance businesses — including Enova, LendUp and Goldman Sachs — Jason is now the publisher of the Fintech Business Weekly newsletter and an advisor for early stage startups. In this episode, Jason shares the FinTech trends he believes are overhyped, and argues that creditors and lenders aren’t paying enough attention to the rapidly changing payments universe. He offers his perspective on cryptocurrency and the US regulatory environment, and he, Craig and Josh discuss measures lenders can take as the credit card market becomes increasingly saturated. Plus, Jason talks about living in Amsterdam; Craig and Josh quiz him on Dutch trivia; and Craig is particularly disappointed to find out Jason doesn’t own a single pair of wooden clogs. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

Susan Ehrlich joins Craig and Josh on the podcast this month, drawing on a wealth of industry experience at incumbent banks, neobanks, large credit card lenders, and more — including running Amazon’s global credit card program, serving as CEO of Earnest, and now sitting on the boards for BECU, Petal and Arrived Homes. In the episode, Susan shares her excitement for how companies are expanding access to consumers across the credit spectrum. They discuss the legacy tech challenges traditional FIs and credit card lenders are facing, implications of the banking industry moving to the cloud, and what credit unions and smaller banks can do to differentiate from FinTechs. Susan also reveals her favorite golf course, the round that still haunts her today, what it was like playing with Rory McIlroy in a pro-am — and her love of volunteering in San Francisco’s election polls. For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.