First Internet Bank interns spearheaded the innovation behind a predictive analytics tool used to determine the likelihood of delinquencies on Small Business Administration loans.  

“We have an internal tool that was actually started by a couple of interns last summer that we built to analyze our own data and do future forecasting,” Chief Executive David Becker told FinAi News.

The tool uses internal data to predict delinquencies based on loans with similar characteristics, Becker said. For example, a forecast performed by the interns on franchise loans comparing the loan information to delinquent loans “nailed them all perfectly.” 

Last summer, that SBA portfolio sat at around $500 million, Becker said. 

In addition to the new tool, the $5.6 billion bank uses cloud-based, AI-driven analytics and predictive modeling solutions provider Lumos to monitor SBA data in its entirety, Becker said. “Lumos actually absorbs all of the SBA data.” 

Lumos clients include Centier Bank, First Bank, Lenders Cooperative, Live Oak Bank and U.S. Bank, according to the company. 

Intern innovators

Each summer, First Internet Bank brings on 18 to 20 interns, Becker said. The students who brought the predictive analytics tool to life at FIB were from Butler University and Purdue University. 

They “helped put the [predictive analytics] program together,” he said, noting that they weren’t afraid to use AI and explore the tech’s capabilities. 

For students today, AI is “a medium they’re literally growing up with,” Becker added. 

When the internships were completed, the CEO went to the chief technology officer and said, “You have to hire both” the interns who built the predictive analytics tool. 

Becker said the bank’s internship program opens up its talent pool, noting that the 2026 summer interns are “already hired and committed.” 

First Internet Bank declined FinAi News’ request for comment from a past intern. 

Register here for the upcoming FinAi Lending Summit, set for Oct. 7-8 in Las Vegas.