Meridian Trust Federal Credit Union goes live with Scienaptic’s AI-powered credit decisioning platform
Early results indicate potential for over 50% auto-approvals for auto loans
NEW YORK, NY (May 24, 2022) — Leading global AI-powered credit decision platform provider Scienaptic AI announced today that Meridian Trust Federal Credit Union is now live on its platform. The implementation will help the credit union strengthen its lending portfolio, make faster loan decisions and empower its member-community through greater access to credit.
Founded in 1954, Meridian Trust Federal Credit Union is a full-service credit union, offering members a full suite of financial products and services. With locations in Wyoming, Colorado and Nebraska, the credit union is committed to making life more convenient for its members and enhancing their experiences. Through the deployment of Scienaptic’s platform, Meridian Trust FCU is offering advanced, automated credit decisions to streamline loan decisioning, expand its member base and increase credit availability for its members.
“At Meridian Trust Federal Credit Union, we believe everyone deserves a chance to thrive, financially and otherwise. The deployment of Scienaptic’s AI-based platform is helping us provide quick access to credit, make advanced decisions in reduced time and provide our members with customized financial solutions. As indicated by early results, an over 50% increase in auto approvals for auto loans will help us have many more proud vehicle owners in our community,” said Michael Barnhardt Jr., Chief Lending Officer of Meridian Trust Federal Credit Union.
“To see businesses and individuals thrive by getting the right financial assistance is a matter of great satisfaction. We are delighted that the deployment of our platform is helping Meridian Trust Federal Credit Union achieve that goal,” said Pankaj Jain, President and Co-Founder of Scienaptic AI. “Our industry-leading credit decisioning platform will greatly enhance Meridian Trust’s financial outreach initiatives and lead to an enhanced member experience and inclusive credit access.”
About Scienaptic AI
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Whether credit union, auto lender, bank, or fintech, Scienaptic's AI native credit decisioning platform enables lenders to constantly improve the quality and speed of their underwriting decisions, helping them reach a greater number of borrowers, including underbanked and underserved individuals, and say “yes” more often, without increasing risk.
The company’s AI platform is used by lenders of all sizes, integrating seamlessly with their existing systems. Scienaptic-enabled lenders have processed more than 190 million transactions worth $36 billion in credit decisions, benefitting millions of borrowers, and helping them get access to the credit they need. For more information, visit http://www.scienaptic.ai.