Community Choice Credit Union Goes Live on Scienaptic's AI-Powered Credit Decisioning Platform

Deployment enables significant automation, improved underwriting, enhanced member experience, and best-in-class fair lending, compliance, and monitoring

NEW YORK - March 11, 2024 - PRLog -- Leading global AI-powered credit underwriting platform provider Scienaptic AI announced today that Community Choice Credit Union has implemented its AI-based decisioning platform and is now live. Initial tests show significant gains in loan decision automation and credit approvals for members, thus complementing Community Choice Credit Union's lending process and driving financial inclusion for thousands of members.

Community Choice Credit Union is a financial institution in constant and persistent pursuit of providing unexpectedly delightful experiences to its members, its employees and its communities. Guided by the "UNbanking" spirit since 1953, Community Choice has become trusted as the beacon for financial product and service gratification for over 50,000 Central Iowans. It allows members to "UNbank" with a blend of retail stores and digital channels offering a full smorgasbord of consumer and business solutions. With Scienaptic's AI-powered loan decisioning platform, the credit union is serving its members better, faster and forging deeper relationships.

"At Community Choice, we're a team of innovative, passionate, and member-centric individuals who strive to deliver exceptional experiences," said Brian Curtin, Chief Lending Officer. "We recognize the transformative power of AI, and in Scienaptic, we found a partner that shares our commitment to creating better opportunities for our members. By leveraging their AI-powered platform, we're able to approve more loans and provide a truly unique 'UNbanking' experience. Scienaptic's technology is empowering us to automate and personalize each decision, ensuring a tailored journey for every member."

"We are driven to improve the financial lives of the members Community Choice serves through credit empowerment and personalized decisions," said Pankaj Jain, Co-founder and President of Scienaptic. "In our shared passion to 'Wow' members and exceed their expectations, we feel privileged that our AI is increasing credit access and supporting Community Choice members in fulfilling their dreams."

About Scienaptic:

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 while addressing all Regulatory aspects especially Fair lending and explainable adverse actions.

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 300 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 https://www.scienaptic.ai