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Levo Credit Union selects Scienaptic’s AI-powered credit decisioning platform to enhance loan approvals and member experience

Leading global AI-powered credit decision platform provider, Scienaptic AI announced that Levo Credit Union  has chosen its AI-powered platform, enabling the credit union to make faster loan approvals, reaching more members, increasing loan approval rates and enhancing member experience. 

Originally chartered in 1934, Levo serves over 30,000 members throughout Minnehaha, Lincoln, McCook and Turner counties of South Dakota, providing a full range of consumer and business financial services across its six Sioux Falls locations. Implementing Scienaptic’s AI-powered credit underwriting platform will allow the community-focused, members-first institution to boost credit access for both current and potential borrowers.

“At Levo, our mission is to help better our members' lives by putting their financial interests first and providing the right products and services when they need them,” said Steven Stofferahn, VP of Lending at Levo Credit Union. “Scienaptic’s AI-powered credit decisioning platform is a perfect fit for this mission. The cutting-edge AI will help us enhance credit access for members and improve their financial well-being through smarter, faster credit decisions.”

"We are excited to be partnering with the team at Levo, helping to enhance its credit decisioning,” said Pankaj Jain, President, Scienaptic. “By leveraging Scienaptic’s AI, Levo will be able to say ‘yes’ to more borrowers more often and with more confidence, further strengthening relationships and delivering an exceptional member experience.”

Scienaptic AI

Founded in 2014, Scienaptic AI was built with the mission to drive financial inclusion at scale through AI-driven credit decisioning. The platform encapsulates a decade of technological innovation, integrating more data into decision-making, leveraging advanced machine learning algorithms, and supplementing them with rigorous risk and fair lending monitoring processes. This enables financial institutions to reach more borrowers—including underbanked and underserved individuals—and say “yes” more often without increasing risk. ...

In September 2024, Scienaptic’s Credit Union Service Organization (CUSO) received strategic equity investments from its clients, further strengthening its mission to elevate lending with AI-driven solutions for inclusive loan growth, automation, lifecycle management, and compliance. Today, the CUSO is backed by 10 strategic investors, underscoring Scienaptic’s deep commitment to the core principle of "people helping people."

The Scienaptic AI platform plays a vital role in supporting over 150 lenders by enhancing lending accuracy and efficiency. Scienaptic’s credit decisioning expertise spans financial institutions collectively managing $3.9 trillion in assets. The platform processes over 3 million credit decisions each month, evaluating loan applications worth more than $3 billion. This enables over 1.3 million underserved individuals every month to access credit opportunities that were previously out of reach. Driven by the growing demand for AI in lending, the company has expanded by over 2,000% in the past three years.

For more information, visit www.scienaptic.ai.

Contact

Chandan Pal
Chief Marketing Officer
chandan@scienaptic.com
Scienaptic AI

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