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Scienaptic AI & DigiFi to enhance credit lending with AI integration

By Delisha Fernandes

January 04, 2024

  • Credit Decision Platform
  • Credit Scoring
  • DigiFi
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Scienaptic AI, DigiFi, Credit Scoring, credit decision platform, digital lending, loan origination, financial institutions, FinTech news, FinTech USA

Scienaptic AI, a provider of AI-powered credit decisioning, has announced a strategic integration partnership with DigiFi, an automated digital lending solutions provider.

The partnership will increase the adoption of AI for lending and give more members access to fair credit. Integrating DigiFi’s loan origination system and Scienaptic’s AI-powered signals will enable financial institutions to automate their lending, approve more loans and increase credit availability for their members.

Lenders leverage Scienaptic AI’s signals to boost approval rates while holding the loss rates constant. Clients typically experience a substantial 15-40% increase in approval rates. The platform also delivers notable advantages such as a significant rise in automated decisions and a decrease in bias across protected consumer classes.

Pankaj Jain, Co-Founder & President of Scienaptic AI, said, “We are very excited to partner with DigiFi. Our partnership removes the integration hurdles that prevent lenders from implementing AI. This partnership will increase the adoption of AI and allow more members to access credit. As a result, we will be able to drive faster and smarter loan decisions for financial institutions and empower their members and customers to say “yes” more often.”

DigiFi provides a next-generation loan origination system to banks, credit unions, finance companies and fintechs. DigiFi’s cloud-based platform enables the automated online delivery of multiple consumer lending products through a single platform, driving better customer experiences and lower operating costs.

“DigiFi is dedicated to empowering lenders to provide digital access to credit that impacts people’s lives, and we love how Scienaptic is helping lenders expand who they can serve,” said Joshua Jersey, CEO and Co-Founder of DigiFi. “The integration of both platforms is an exciting opportunity to bring Scienaptic’s AI-powered credit signals to our clients. As a result, our clients will have the opportunity to incorporate AI into their lending process and make smarter, automated decisions. In addition, this partnership will enhance their borrowers’ experience, increase approvals and expand access to credit.”

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