Scienaptic AI, a New York-based AI-powered credit underwriting platform, announced that its Credit Union Service Organization (CUSO) has received strategic equity investments from six of its credit union clients.
Credit unions include ELGA Credit Union, Wildfire Credit Union, 4Front Credit Union, CoVantage Credit Union, Credit Union of Colorado, and People Driven Credit Union—representing a presence across Michigan, Colorado, Wisconsin, and Northern Illinois.
Through this initiative, credit unions will gain access to credit origination and lifecycle management solutions, that are designed to enhance financial inclusion and improve member experience.
Founded in 2014, by Pankaj Kulshreshtha, CEO, Scienaptic Systems has built Scienaptic AI to drive financial inclusion at scale through AI-driven credit decisioning. The platform integrates diverse data sources, advanced machine learning algorithms, and comprehensive risk and fair lending monitoring processes.
Today, over 145 lenders use Scienaptic’s platform to enhance the accuracy and efficiency of their underwriting decisions. The system has processed over $76 billion in applications, enabling millions of underserved individuals to access credit that was previously out of reach.
FinSMEs
10/09/2024