Case Study: Advia Credit Union triples auto loan applications with Faraday

Advia Credit Union triples auto loan applications with Faraday, generating $2.7 million in 90 days

Advia Credit Union faced the challenge of effectively engaging its members with the right financial product offers to grow its wallet share. They needed to improve member targeting but had limited data science capacity and had to ensure strict compliance with fair lending regulations. To address this, they partnered with vendor Faraday.

Faraday implemented its AI-powered custom predictive datapoints to provide personalized product recommendations, starting with auto loan offers. This solution included features for bias mitigation to ensure fair lending compliance. Using these insights, Advia launched targeted email and direct mail campaigns, which tripled auto loan application rates to 5.18% in 90 days, generating $2.7 million in new loans.

Advia Credit Union