Houston-based PrimeWay Federal Credit Union, will become the first credit union to implement Vine’s AI-powered lending platform.
While making a strategic shift to focus more resources on its business members, PrimeWay recognized that there were efficiencies to be gained in its commercial lending business. The credit union prides itself on fast decisions and competitive rates. To support both time and cost efficiencies, PrimeWay will partner with Vine, leveraging all the benefits AI has to offer for commercial loans.
“Expanding our focus on business lending meant finding ways to operate more efficiently without sacrificing the experience we deliver,” said Michael McGee, chief lending officer at PrimeWay. “Being able to make faster, more consistent loan decisions is a game changer for our team and the local businesses we serve, and Vine has been a strong partner in that effort.”
Vine’s commercial lending accelerator leverages AI to help financial institutions deliver faster decisions on commercial loans. While the commercial lending process is traditionally plagued by manual tasks and inefficiencies, Vine automates everything from document reading to financial spreading and document generation to streamline decisions, reduce errors and free lenders up to build lasting relationships with the businesses they serve.
“PrimeWay is leading a shift we expect to see across more credit unions,” said David Eads, CEO and co-founder of Vine. “There is a significant opportunity to better serve business members, and commercial lending is one of the most impactful ways to support local businesses and drive growth.”