I think we all agree that the credit union world thrives on the energy generated by the power of sharing new ideas, perspectives, strategies — and of course, innovation and technology. These are the essential components that make Origence’s Lending Tech Live Conference a unique experience in the industry – one that covers all aspects of lending and the lending marketplace.
We were excited to once again host our annual conference, Lending Tech Live ‘22, after a two-year hiatus due to COVID. The event was back and better than ever, offering a dynamic line-up of expert speakers from the worlds of lending, automotive, and financial marketing, and attracting a record number of attendees to the scenic Gaylord Rockies Resort in Aurora, Colorado, in late July.
From Marcus Buckingham’s opening keynote on keys to standing out in work and life, to Professor Lamont Black’s keynote on cryptocurrency, blockchain, and the future of lending, and Origence’s Tony Boutelle’s one-on-one with NCUA’s Kyle Hauptman about ensuring relevance for credit unions – not to mention the great speakers and educational sessions in between — attendees were given a great deal of information to take back to their respective credit unions.
After the conference, I sat down with four Origence executives to get their perspectives and key takeaways from the conference. I spoke with Jay Carstens, senior vice president, client experience; Bill Lynch, vice president, partnerships; Dave Adams, vice president, lender client experience; and Ken Burns, executive vice president of sales, marketing automation, and here’s what they shared.
1. What was your biggest takeaway from the conference?
Jay Carstens: It was great to be back in person, seeing so many familiar faces, and networking for three days with hundreds of industry partners. The conference provided a great opportunity to re-connect, which is so valuable for all of us—the Origence team, our credit union partners, and the industry as a whole. The energy level at the conference was amazing. I think we all came away with a deeper understanding of today’s lending industry. We sure know how to have a conference!
Bill Lynch: My most important takeaway, beyond being a great opportunity to once again meet with our credit unions and partners, is how fast technology is developing. Partnering with industry-leading companies is enabling Origence to quickly bring new features and functionality to our credit unions, while continuing to specialize in our own technology advancements. Our Document Process Automation that’s being powered by our new partner, Informed IQ, is a great example of how we are gaining speed to keep credit unions at the forefront of lending.
Dave Adams: The conference had a tremendous line-up of speakers from some of the most respected organizations in our industry. But, my biggest takeaway was interacting with our amazing clients again. Seeing so many from my Lender Client Experience team under one roof, along with our credit union partners, for the first time in years was tremendously rewarding.
Ken Burns: My biggest takeaway, beyond interacting with so many industry people in one place, is the value we are delivering to our credit union clients. New records of auto loan fundings through CUDL and Origence arc OS in 2022 is very rewarding to see. Origence truly is delivering on our promise to provide experience, expertise, and efficiencies to our clients.
2. What surprised you the most?
Adams: The energy! It was so positive and electric! This can be summed up by the hunger for knowledge, the embracing of our brand and products, the interaction with our business partners, and the value Lending Tech Live provides to our credit unions and the industry as a whole.
Carstens: I have high expectations for our conference each year, and this one certainly hit the mark. The content was very engaging and topical, focusing on how we are advancing our technology, and delivering the keys to an improved member experience.
Burns: The attendance was remarkable given the time of year. It demonstrated just how valued the Origence brand has become to our clients. Given it was high summer travel time, our Events team was impressive in exceeding attendance levels from our pre-COVID-19 levels.
Lynch: The quality and amount of information and insight presented was beyond my expectations. Sitting with credit unions in the audience and hearing their feedback was very encouraging and reinforced the need for a conference on the scale of Lending Tech Live.
3. Which of the keynote and/or breakout sessions made the biggest impression on you, and why?
Lynch: Professor Lamont Black. His presentation brought to light the idea that blockchain ledger could be used in finance and opens virtually limitless opportunities.
Burns: I agree with Bill, the presentation on the emerging trends in blockchain was truly exciting. The growing role of cryptocurrency and blockchain in financial services and the implications for lending will be key in helping to transform digital title and other applications in consumer processing.
Carstens: The interview with Erin Andrews, the Dealer Panel, and the Women’s Leadership Luncheon impressed me the most. I am a huge NFL fan, so listening to Erin’s stories from her years of sports broadcasting was incredible. The dealers were very engaging and provided great insight and perspective to an ever-changing auto industry. Hearing from some of the leading women in our industry during the Women’s Leadership Luncheon about the key issues, challenges and strides they have made on their journey to success was very inspiring.
Adams: I’m a little biased as I introduced this session — the indirect lending session with our client guest speakers was really well received and well attended by attendees, and it reinforced some core tenets of indirect auto lending. Indirect lending is still as important to Origence and the industry as it ever has.
4. Which industry issues addressed during the event did you find key in advancing dialog with credit unions?
Burns: Naturally, the economy and rising interest rates, and their effect on loan demand and eligibility, were a major topic of discussion. Origence’s online account opening and end-to-end loan processing, as well as synced marketing automation, were key topics of discussion to assist in driving a credit union’s loan growth.
Adams: It was apparent at the conference that clients are hungry for our product roadmap, and keeping clients better informed as to where we are going as an organization, and a CUSO, will help them shape their member experiences in a timely fashion.
Lynch: Remaining relevant and compliant in loan decisioning is important for credit unions to stay competitive in the market, without unintentional disparate impact. Leveraging our new partnership with ZEST AI, which was announced at the conference, has a big impact. The ability to use technology in model development that competes with big banks who employ teams of statisticians, data scientists, and model risk managers, is a huge win for credit unions.
Carstens: Our product roadmap and DPA (Document Process Automation) sessions were key areas of interest with our clients. I feel our credit union clients are really embracing our renewed focus on our core products, and they see DPA creating efficiencies and being a key differentiator for them.
5. What did you learn at the conference that can help credit unions prepare for the future?
Adams: Crypto and blockchain technology are going to be part of the consumer lending landscape, and will be so in multiple ways – repayment, authentication, and the transaction itself. I am looking forward to future discussions between experts, Origence, and our forward-thinking clients.
Carstens: I’m with Dave on this, I found the blockchain conversation interesting — the more I hear it, the more it resonates for me. I also found the discussion on electric cars during the dealer panel session — how they fit into the marketplace and new ways to creatively finance them, along with charging stations — to be very interesting.
Burns: Networking with our peers, and spending time with our key strategic partners. The fact that Origence is owned by credit unions has been instrumental in our success working with other industry leaders.
Lynch: The strength of our organization’s network is immense. This as a game-changer for credit unions and reinforces the importance of a CUSO in driving value for them in the lending markets.
Technology and innovation have been a driving force in the financial services world for five decades, and the pace will only increase exponentially going forward. Keeping up with the evolution of technology and innovation is vitally important to the growth of credit unions. Lending Tech Live provides an ideal opportunity to connect, discover and realize how credit unions can successfully maximize lending performance, increase their value to members, and thrive in today’s (and tomorrow’s) lending marketplace.
Be sure to join us at next year’s Lending Tech Live ’23 Conference in Las Vegas, Nevada, May 30 – June 1, 2023.
