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In this episode of Accrued, hosts Tedd Huff and Colton Pond engage with Ensemblex leaders Shawn Budde and Chloe Zhu to explore challenges and opportunities in lending and financial technology. The discussion highlights common pitfalls for fintech startups, such as prioritizing customer acquisition while neglecting critical processes like servicing and collections, which are essential for long-term success. The importance of clean, organized data for informed decision-making is emphasized, along with strategies to enhance operational efficiency through structured approaches. They also address the role of AI, stressing the need for human oversight to prevent errors and biases while using it as a tool to improve automation and decision-making. Practical advice is provided on meeting evolving regulatory requirements, ensuring compliance is integrated into business operations. Finally, the episode examines advanced financial practices in countries like India and Brazil, offering lessons on improving accessibility and efficiency in U.S. markets. This conversation delivers actionable insights for professionals seeking to refine their strategies in fintech and lending.

Takeaways
1️⃣ Avoid the Biggest Lending Mistake Startups Make
2️⃣ AI Won’t Fix Everything
3️⃣ Start Compliance Early to Save Time and Money
4️⃣ What’s Your Customer’s Long-Term Value
5️⃣ Look Globally to Stay Ahead

Fintech Confidential
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Chapters:
03:27 Introducing Ensemblex Guests
06:13 Challenges in Scaling Credit Products
08:17 Common Mistakes in Lending and Credit
11:47 Importance of Servicing and Collections
15:13 Data and Analytics in Financial Services
18:08 AI in Financial Services
23:45 Regulation and AI in Lending
24:18 Challenges with Machine Learning Models
27:46 Regulatory Interactions and Compliance
29:06 Community Banks and AI Adoption
31:20 Future Opportunities in FinTech
35:53 Global Innovations and Predictions
40:49 Conclusion and Final Thoughts