AI-powered lending increased instant approvals by 40%+ for direct vehicle loans, 40%+ for personal loans, and 25%+ for cards

NEW YORK: Leading global AI-powered credit underwriting platform provider Scienaptic AI, announced today that Michigan-based Alliance Catholic Credit Union has implemented its AI-based underwriting platform and is now live. This deployment is significantly streamlining the credit union’s underwriting process, leading to an increase in approval rates and a notable enhancement in the member experience. Importantly, all these advancements have been achieved while ensuring fairness, inclusivity, and compliance with regulatory standards, which are integral to Scienaptic's AI platform.

Founded in 2013, Alliance Catholic Credit Union (ACCU) has grown to serve over 32,000 members across Michigan. Upholding its core values, ACCU continuously expands its product and service offerings to meet the evolving needs of its members.

"At Alliance Catholic Credit Union, our mission has always been to guide members toward financial security," said Daniel C. Davidson II, EVP/COO of Alliance Catholic Credit Union. "With Scienaptic’s AI platform, we’re enhancing the speed, accuracy, and scalability of our lending. By analyzing vast data in real time, the platform enables more informed credit decisions while streamlining underwriting and reducing manual effort. This technology is strengthening our compliance, minimizing errors, and expanding financial access, allowing us to serve our community with greater agility and trust."

"We’re excited to see Alliance Catholic Credit Union go live with Scienaptic’s platform," said Eric Steinhoff, EVP Client Impact at Scienaptic AI. "This deployment reflects our shared commitment to combining advanced technology with human-centered values. By automating workflows and delivering real-time insights, our platform is helping ACCU make faster, fairer, and more precise lending decisions, expanding credit access while upholding their core values of trust and community. We are extending our footprint across Michigan and look forward to many more success stories in the region."

About 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.

Fonte: Business Wire