back Back

Community 1st Credit Union selects Scienaptic for AI-driven credit decisioning

By Pavithra R

May 24, 2021

  • America
  • Community
Share

Community 1st Credit Union selects Scienaptic for AI-driven credit decisioningScienaptic AI, an AI-powered credit underwriting company equipping financial institutions with sharper tools to improve credit decisions has announced that Community 1st Credit Union has selected its AI-powered platform to enhance and augment its credit decisioning and underwriting capabilities for new and prospective members.

“We are pleased to help Community 1st Credit Union provide increased credit availability to its members and reach more potential prospects. Scienaptic’s powerful, adaptive AI will bolster Community 1st’s lending decisions, creating more approvals faster, all while strengthening member relationships and delivering an exceptional customer experience,” said Pankaj Jain, President of Scienaptic.

Founded in 1925, Community 1st Credit Union was the first credit union established in the state of Washington and is among the longest-running CUs in the U.S. With a focus and commitment towards community-based engagement and the financial well-being of its members, Community 1st has become a leading national provider of solar and other “green” financing through its ezSolarLoan division.

“We see the potential of Scienaptic’s AI-powered credit decisioning platform. In addition to helping us make quicker and better lending decisions, Scienaptic’s solution will assist us in expanding our solar and green energy lending reach and lowering financing costs in the nationwide residential solar market. We are excited to get started and expect our borrowers will be delighted with their experience at Community 1st and ezSolarLoan.com,” said Bill Paulen, CEO of Community 1st Credit Union.

Founded in 2014, Scienaptic is on a mission to increase credit availability by transforming technology used in credit decisioning. Its platform Ether Underwrite is creating improvements in higher application approvals (15-40%) and lower credit losses (10-25%) with all the regulatory explainability. The firm uses alternate data, raw trade line-level bureau data and AI to help banks find new credit eligible segments of customers.

Previous Article

May 24, 2021

MultiPay Global Solutions announces partnership with Luxochain

Read More
Next Article

May 25, 2021

Fiserv enables PayMyTuition to accept local payment methods in China

Read More








IBSi Daily News Analysis

cybersecurity

April 18, 2024

America

GCC banks bolster Cybersecurity measures to combat email fraud

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 19, 2024

Aurionpro acquires Arya.ai to offer AI solutions for Banks, FIs & Insurers globally

Read More

April 19, 2024

Cashinvoice appoints Vineet Aggarwal as Head of Partnerships & Initiatives

Read More

April 18, 2024

5 RegTech platforms streamlining finance compliance in India

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023