- “At First National Bank of Omaha, which has been privately owned and independent for more than 160 years, we are making a choice to be an early adopter and embrace AI, particularly for consumer lending. We recently partnered with a Silicon Valley fintech called Upstart to decrease loss rates and increase approval rates by using the platform’s AI technology.
- The reality is that banks who choose to fear AI run the risk of slowly sliding into obsolescence. AI is still an emerging space, but like the machine-learning algorithms that power AI, we are also getting smarter every day in our approach and willingness to tackle credit underwriting innovation. Banks, including smaller institutions, that struggle to embrace innovation, may find themselves quickly falling behind.”
https://www.americanbanker.com/opinion/small-and-mid-sized-banks-cant-shy-away-from-ai
Sr Vice President
First National Bank of Omaha