Scienaptic partners with Urjanet to combine the power of AI and permissioned alternative data
Alliance to generate powerful credit risk signals for SME and retail lenders
NEW YORK, NY (March 22, 2021) — Scienaptic, the world’s leading AI-powered credit decision platform provider, announced its partnership with Urjanet, the global leader in utility account aggregation. This alliance will enable Scienaptic to tap Urjanet’s global telecom and utility data to enhance its credit decisioning platform with consumer-permissioned alternative spending data.
By combining Scienaptic’s AI-driven credit underwriting platform with 12 months of payment history from thousands of utility, telecom and cable providers worldwide, powerful credit risk signals will be generated for SME and retail lenders.
“Integration of AI with alternative data is radically changing credit underwriting,” said Mark Dreux, Head of Growth and Strategy at Scienaptic. “Through this partnership, Scienaptic and Urjanet will combine resources and expertise to focus on building a ‘best-in-class’ credit inclusion solution for India, as well as North America.”
“Using alternative credit data, lenders are empowered to make more informed decisions while safely extending credit to new applicants,” said Erik Becker, SVP of Corporate Development at Urjanet. “Scienaptic’s AI-driven credit underwriting platform, paired with our consent-based alternative data, will allow businesses to uncover new revenue streams, mitigate risk, and deliver sharper credit decisions. We are pleased to partner with Scienaptic to close the lending gap and reach emerging markets.”
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
Utility data solves global challenges, from ESG reporting for accountable climate action to credit risk assessment and identity verification for the underbanked. Urjanet is the world’s leading utility data aggregator, delivering data from more than 6,500 utility, telecom, and cable providers across 48 countries. Urjanet’s cloud-based platform and powerful suite of APIs provide a secure and scalable way for businesses to access consumer-permissioned data for better visibility into underserved borrowers. To learn more, visit urjanet.com.