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SCE Credit Union Goes Live with Scienaptic's Platform Enhancing Fair Credit Access

By: PRLog

Initial tests indicate 30%+ loan auto approvals, 15%+ increase in credit approvals

NEW YORK - June 22, 2023 - PRLog -- Leading global AI-powered credit decision platform provider Scienaptic AI announced today that SCE Credit Union has gone live with its AI-based underwriting platform to automate and streamline its credit decisioning and expand its member base. As part of the deployment, Scienaptic's AI platform was integrated with the credit union's Loan Origination System (LOS), Temenos, resulting in fair and compliant AI-enabled decisions with greater speed and accuracy.

Founded in 1952, SCE Credit Union is a "not for profit, but for service" cooperative financial institution. With over $1 Billion in assets, the credit union offers a full range of financial services, from basic savings and checking accounts to mortgage loans and complex investment planning to over 65,000 members. SCE Credit Union is driven by the mission to improve the lives of its members, its team, and its communities through the value it creates.

"Our members are the heart and soul of our organization, and we are dedicated to enhancing their financial well-being," expressed Jeanine Corpuz, Chief Lending Officer of SCE Credit Union. "Going live on Scienaptic's platform is empowering us to support our members at every step of their journey. Leveraging their advanced AI-driven decisioning engine, we are establishing a seamless, automated underwriting process that is allowing us to approve a greater number of loans, while effectively managing risk and revolutionizing the member experience. Scienaptic's powerful platform is equipping us to deliver the utmost value to our members and forge stronger connections within our community."

Pankaj Jain, Cofounder and President of Scienaptic AI, passionately affirmed, "The credit union movement stands as a testament to the principle of prioritizing people over money. SCE Credit Union embraces this vision wholeheartedly. We are thrilled that they are now live on our AI-powered platform, marking a pivotal transformation in their credit decisioning process through increased automation and streamlining of loan decisions, more approvals and an unparalleled member experience. Together, we embark on a journey to shape a future where people's financial well-being rightfully takes center stage."

‚ÄčAbout 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.

‚ÄčThe 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.

Media Contact
Chandan Pal
***@scienaptic.com

Photos: (Click photo to enlarge)

Scienaptic Logo Jeanine Corpuz, CLO of SCE CU

Read Full Story - SCE Credit Union Goes Live with Scienaptic's Platform Enhancing Fair Credit Access | More news from this source

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