Credit/Shutterstock
In 2022, credit unions surpassed banks and other financial institutions as the top source of auto financing. To stay at the head of the pack – and win a larger share of the indirect lending market – credit unions must continue to innovate and leverage modern technology solutions to enhance their auto lending capabilities.
Enter document processing automation (DPA). DPA tools use artificial intelligence and machine learning algorithms to classify, analyze and extract data from documents containing unstructured data, such as pay stubs, W2s, financial records, credit reports, insurance policies and vehicle service contracts. Advances in automation and AI technology now make it possible to use DPA to quickly and consistently fund loans, delivering a host of benefits to credit unions, dealerships and ultimately members.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
