Samaha & Associates’ Managing Consultant Adam Denbo Presents at the 2024 American Association of Credit Union Leagues Conference

Managing Consultant Adam Denbo was honored to speak on an accomplished panel at the 2024 American Association of Credit Union Leagues (AACUL) conference in Miami in December 2024. As a national association, the AACUL advocates for regional and state leagues by supporting efforts to advocate, communicate, collaborate, and influence policy on behalf of credit unions nationwide.

Fellow panelists Michael Edwards, attorney-at-law, Law Office of Michael S. Edwards, and Yolanda D. McGill, vice president of Policy and Government Affairs at ZestAI, joined Denbo in this forward-leaning conversation. Among topics discussed is how the European Union’s regulatory lead on artificial intelligence (AI) and related open banking initiatives are shaping rulemaking in the United States.

Denbo’s energetic and well-received presentation “The Rise of Machines: What AI & Open Banking Mean For Credit Unions,” focused on the significant impact of AI and open banking across the financial services industry. Specifically, he outlined how credit unions can prepare for the fundamental changes on the horizon.

To this end, he proposed that new AI technologies will have five key practical implications for credit unions: member service, fraud detection and risk management, loan underwriting, personalized member experience and operational efficiency. Denbo further encouraged credit union management to embrace these new technologies, while maintaining awareness of the challenges and adoption trends occurring in this evolving sector.

Adam’s presentation coincided with the release of Samaha & Associates most recent thought leadership white paper, The Future of AI and Credit Unions: Determining Applications, Objectives and Benefits, which he co-authored with CEO Sabeh Samaha and Senior Consultants Steven Uhrman and James Huaman.

“As credit union executives look to 2025 and beyond, the Samaha team expects that AI, machine learning and robotic process automation will continue to transform the industry. Personalized and efficient services will become the norm, improving member loyalty and satisfaction,” Denbo indicated. “Automation will further reduce operational costs and further efficiency and predictive analytics will become increasingly sophisticated, aiding in better decision-making and risk management.”