VentureTech 2025: The Brian Bodell Keynote

By John San Filippo

The 2025 edition of the VentureTech credit union fintech conference was held in Frisco, Texas, Nov. 3-5. And while the focus of the event was fintechs and their pitches, those pitches were interspersed with presentations from industry experts, including Brian Bodell, CEO of Digital Storefront (formerly part of TruStage).

Brian Bodell at VentureTech 2025

The theme of Bodell’s presentation was the “critical necessity” for credit unions to adopt a consistent framework when partnering with fintechs, particularly regarding artificial intelligence (AI).

Bodell began by acknowledging the difficulty credit unions face in the current market. He noted that while vendors have an easier task, credit unions must integrate disparate technologies while managing member expectations.

“Credit unions are where the rubber meets the road,” said Bodell. “You have to basically figure out how to take all these fintechs, all these legacy vendors, and set member expectations, not having an $18 million IT budget. It’s not an easy thing.”

According to Bodell, the sheer volume of potential partners can paralyze decision-makers. He referenced data indicating that credit unions are often inundated with sales pitches.

“It is overwhelming unless you have a  consistent process and a framework,” he said. “Start with the credit union strategy. You know what you’re trying to accomplish. Ideally, before you start, prioritize those things.”

Bodell emphasized that this framework must include rigorous due diligence and governance. He advised credit unions to use a weighted matrix to evaluate potential partners, not just to generate a numerical score, but to foster internal discussion.

“This isn’t about picking the fintech with the best score. It’s about getting your team to go through a consistent process and understand and have that dialogue to come up with a score,” he explained.

A significant portion of the presentation focused on the data flow between the institution and the vendor. Bodell stressed that understanding data ownership and security is paramount.

“You want to understand what data they are touching,” noted Bodell. “Who owns the data? Who’s responsible for the data in each step of the flow?”

The Reality of AI

Bodell transitioned into the topic of AI, noting that while the industry may be fatigued by the subject, it remains unavoidable. He argued that engaging with AI is no longer optional for institutions that wish to remain competitive.

“There is risk and opportunity here, but it’s required,” said Bodell. “We’ve got to find that right balance between due diligence and speed because the longer you wait as a credit union to bring in the right partners, the harder it is to serve those members and grow the business.”

He warned attendees to look past the user interface and examine the underlying technology of any AI solution. He specifically highlighted the importance of understanding how a vendor utilizes large language models (LLMs). “You’ve got to look at the architecture. Don’t just look at the UX stuff,” Bodell advised. “Is any of our data going out to a public LLM? That can have real impact on the model.”

Bodell also discussed the concept of “explainability” in AI models, urging credit unions to demand transparency from their partners regarding how models are trained and validated.

“I want to understand what your product does, how it compares to others, how you’re using my data, and what our agreement looks like,” he said, outlining the mindset credit unions should adopt.

Regulatory Responsibility

When concluding his presentation, Bodell reminded the audience that regardless of the technology partner chosen, the regulatory burden remains with the financial institution. He cited the NCUA stance on third-party relationships. “Whatever fintech and whatever happens at the credit union, the CEO is responsible and NCUA is going to continue to treat it that way,” said Bodell.

He left the audience with a final thought on the efficiency of partnerships. “You can’t do this efficiently unless you have a consistent framework in place so you can evaluate all these fintechs that are pinging you to determine which ones can meet your strategy and help you grow and compete,” concluded Bodell.