First Choice Credit Union has now introduced Metamo’s Quantum AI system. The new automated decisioning service will transform the member experience when applying for and drawing down a loan. It will significantly increase the speed and effectiveness of personal lending decisions – approvals can now be granted in as little as 3-4 minutes.

The decision to grant a loan will continue to be made by the Credit Union but the pathway to approval will now be a much smoother and efficient journey for members and staff.

The unique loan decisioning system has been developed as credit unions are expanding their member services range to include online and mobile access, current accounts, payments and SME/Agri facilities. It is expected to increase credit union efficiencies, enhance member experience and facilitate business growth.

Anne King, CEO of First Choice Credit Union said: “We are delighted that Metamo’s Quantum AI service has been introduced in our Credit Union. We know the benefits that this will have for both our members and employees. The system is unique as it will never reject a loan application – the decision will continue to rest with your Credit Union. What this means for members is that they will continue to receive the same hands-on personal attention that they have always enjoyed with the additional benefit of faster and more efficient lending decisions”.  

Metamo’s Quantum AI system has been purpose built by Metamo in collaboration with credit unions and selected trusted strategic partners. Utilising leading edge technology and AI powered by Salesforce, it will analyse insights from the credit union’s past loan data in conjunction with Open Banking, CCR and Standard Underwriting Rules to deliver fast, efficient, and consistent personal loan decisions.