Numerica Credit Union chooses Scienaptic to empower AI credit decisioning across loan products and services
NEW YORK, NY (July 19, 2021) — Leading global AI-powered credit decision platform provider, Scienaptic AI announced Numerica Credit Union has selected the company’s AI-powered platform to enhance its overall credit decisioning for several of its lending products and services, including consumer and commercial underwriting, CLI for credit cards, preapprovals, best credit product recommendations for members and credit risk assessment for the institution’s treasury services.
With roots going back to 1937, Numerica Credit Union was initially founded to support railway workers and employees of other transportation systems and shippers. For over 80 years, the Wash.-based credit union has evolved and expanded, now currently serving more than 160,000 members across central and eastern Washington and northern Idaho. The award-winning institution offers a full line of financial products and services, including mortgages and business products to help their members and communities live well financially.
“Numerica’s core purpose is to enhance the lives of our members, fulfill their dreams and enrich our local communities,” said Ken Plank, Chief Lending Officer at Numerica. “Scienaptic’s platform will support our mission and deliver automated decisions across commercial and consumer underwriting, allowing us to serve more members when they need us most. The platform will help us increase loan approval rates and extend more credit to current and potential members while advancing their financial well-being.”
“We are very excited to be working with the team at Numerica, helping to empower its credit decisioning for its members,” Pankaj Jain, President of Scienaptic. “Scienaptic’s adaptive AI will help bolster the institution’s reach and speed for its credit approvals, enhancing member experience, all without increasing risk.”
About Scienaptic AI
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.
The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say “yes” more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions.
Scienaptic-enabled lenders have processed more than 300 million transactions, benefitting millions of borrowers. For more information, visit http://www.scienaptic.ai