Advia Credit Union faced difficulty engaging members with the right financial product offers and needed to grow their "wallet share" while avoiding member dissatisfaction.
Advia CU used Faraday to recommend products for its members—and saw $2.7 million in new loans in 90 days
Advia's lead data scientist leaves, causing delays in hiring a replacement. The credit union also faces challenges adhering to stringent fair lending regulations while using member data.
Advia partners with Faraday to leverage its platform for personalized product recommendations, starting with auto loan offers, and uses Faraday's features for bias mitigation and fair lending compliance.
Advia uses Faraday’s recommendations to target members more effectively, leading to improved engagement with personalized email and direct mail campaigns.
Advia sees a significant increase in auto loan application rates, reaching 5.18% after 90 days and generating $2.7 million in new loans, demonstrating improved campaign performance and regulatory compliance.
