Michigan State University Federal Credit Union developers are investigating how to use AI in its software coding.

The $7.45 billion credit union has several teams, including managers, vice presidents and developers, exploring AI use cases through its innovation lab, The Lab, Ami Iceman-Haueter, chief research and digital experience officer at MSUFCU, told Bank Automation News. Iceman-Haueter said coding is one area of research.

AI can bring added efficiencies to the developer team, MSUFCU Innovation Partnership Manager Filip Danielewicz told BAN. “Maybe not coding the entire program, but at least getting it started and getting it out of the box.”

Unlike most credit unions, MSUFCU has done much coding in-house, Iceman-Haueter said, noting that MSUFCU’s mobile app and online banking, for example, were homegrown solutions built with custom code and are now being modernized in collaboration with digital banking platform Nextly.

The Lab allows the credit union to vet fintechs and technology, lead pilot programs and test products prior to implementation, according to the MSUFCU website.

“It allows us to do some of that testing without impacting membership,” Iceman-Haueter said.

AI use cases

The MSUFCU team is also looking into how AI can create hyperpersonalized member experiences and combat fraud, Iceman-Haueter said.

Through AI, the credit union can ingest data in a way that “make[s] sure that we’re getting the right insights about a member in a safe and secure way,” she said. For example, the credit union wants to leverage client data to make members feel like they’re having unique experiences based on their own financial needs.

The credit union is also exploring AI use to combat money laundering and fraud attempts, Iceman-Haueter said. That research is in the early stages and hasn’t “made it as far as the Lab, yet.”

MSUFCU is already using AI to develop its internal- and external-facing chatbots, Gene and Fran, Iceman-Haueter told BAN.