Live Oak Bank's BJ Losch on why AI is an accelerant, not a strategy

Most banks seem to chase small business customers as one segment among many. Live Oak Bank was built around a bet that specializing beats generalizing — and it started about as narrow as a bank can start, lending only to veterinarians. Today, Live Oak has grown that thesis into 40 verticals, holds the top spot among all SBA 7(a) lenders by dollar volume, and has done it all without a single branch. My guest is BJ Losch, president of Live Oak Bank. Live Oak has never had a physical location, yet its people travel the country to sit across the table from customers a branch down the street never would. Now the bank is layering AI onto that model, cutting loan approval-to-close timelines from over 100 days toward a two-week target, and thinking hard about what it means to stay high-touch while going high-tec. We talk about the theory of verticality, where automation should and shouldn't touch the credit decision, and why BJ sees AI as an accelerant of Live Oak's strategy rather than the strategy itself.