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Scienaptic Quarterly Update

October - December, 2021

AI native credit decision platform for consumer and SMB lenders

19 new clients last quarter

63 clients total

Our value proposition of enabling more 'yes' faster is resonating. We are also putting these lenders on cutting-edge tech roadmap, otherwise not possible for them to build internally.

 
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Many deals now closing within 30-45 day sales cycle. 1 deal signed in 7 days.

65+ CXO level new leads generated each month. 

Our platform continues to gain the trust of our clients

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$22 billion+ 

credit decisions processed annually

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7 million+

applications processed annually 

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2 million+

credit union members supported

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"Our company’s first loan was $500 to an immigrant mother, who had lost her job and wanted to start her Mexican food cart for her former co-workers. One cart became two and two carts became a restaurant. Scienaptic's AI-powered credit decisioning platform will empower us to say “yes” to many more borrowers like her."

Paul Quintero
CEO at Ascendus

Case Study

We are now transforming our clients to our brand advocates who are spreading the word about our platform in the market. 

Signed deal within
25 days

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Day 1

Existing client introduces us to
CEO of another Credit Union 

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Day 21

Integration
tests 

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Day 8

Detailed demo with tech and
risk team

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Day 24

Contract
signed

Our deployments are delivering big impact

In each of our deployments, clients have experienced significant business impact through better AI-powered decisioning and automation. 

Numerica Credit Union

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27%

More Approvals

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20%

Risk reduction

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77%

Auto decisioning

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"Our partnership with Scienaptic is empowering us to make advanced and faster credit decisions especially at a time when the Spokane valley is growing at a rapid pace. Initial tests show potential for up to 27% more approvals, 20% risk reduction and 77% auto-decisioning. It strengthens our member relationships, supports their financial needs and enhances their experience."

Ken Plank
Chief Lending Officer at Numerica

On track for robust, sustained growth

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582%

growth in MRR for trailing
12 months

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316%

growth in net new ARR booked in
Q3 compared to Q3 of last year

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A Credit
Union

In process of evaluating our platform for pre-qualifying potential customers for loans

Marketplace
for SMBs

Evaluating additional scorecards based on SMS and GST data

SMB
Lender

Additional decisioning engine license for their emerging enterprise loan business

Expansion with existing clients

2 webinars and 3 podcasts with
clients and industry leaders

Dec 9, 2021

Panel Discussion
AI for lending and beyond: New use cases, trends and adoption roadmap

Speakers:
Eric Steinhoff,
Client Impact Scienaptic AI
Kathryn Bonesteel, VP of Partnerships Scienaptic AI
John San Filippo, Co-Founder Finopotamus
Kirk Drake, Founder CU 2.0 • Board member NACUSO
Daniel Estal, VP of Lending Northern CU
Michael Mehling, VP of Lending Heritage Financial CU
Solomon Semere, Senior Director LexisNexis

Sep 29, 2021

Panel Discussion
Bringing AI to Credit Unions

Speakers:
Eric Steinhoff, EVP Client Impact, Scienaptic AI
Kathryn Bonesteel, VP of Partnerships, Scienaptic AI
Floyd Rummel III, Chief Executive Officer, Northern Hills FCU 
Alicia Carlson, Credit Systems - Consumer Lending at Gesa CU
Daniel Estal, VP of Lending, Northern Credit Union
Mark Rowan, Chief Technology Officer, Credit Union of Colorado

Dec 23, 2021

Zero To 5000
Building Liberating Wealth: Pankaj Kulshreshtha, Scienaptic

Nov 04, 2021

Bankadelic
Episode 66  |  Beyond bureau scores: Demystifying AI in credit

00:00 / 24:18

Oct 12, 2021

CU broadcast
How Credit Union Lenders Can Leverage AI for New Growth Opportunities...

00:00 / 21:22

Scienaptic in the news

Dec 14, 2021

Credit Union Times
Goal in the Dakotas: Make AI Attainable for All Credit Unions

The Dakota Credit Union Association has taken steps in a tech-forward approach for the 69 credit unions it serves in North and ...

Dec 7, 2021

Finopotamus
The Voices of Money20/20: A Scienaptic AI Two-fer

For this installment, Scienaptic AI’s President Pankaj Jain and Client Success Executive Dakota Patsfield sat down ...

Nov 08, 2021

American Banker
How credit unions use AI to compete with fintech lenders

The $127 million-asset credit union in Sturgis, South Dakota, has partnered with the New York City-based Scienaptic to build an...

Oct 6, 2021

Bank Automation News
How to … Create a culture of artificial intelligence at credit unions

Leaders at four credit unions shared steps financial institutions (FIs) can take to create a “culture of artificial intelligence” ...

Sep 20, 2021

Bank Automation News
Credit unions eye automation, AI for digital auto refi

Credit unions are exploring the use of automation and artificial intelligence (AI) to streamline the refinancing process...

Sep 10, 2021

Auto Finance News
Gesa Credit Union adopts Scienaptic’s AI-powered credit-decisioning platform

Automated approval rates on indirect auto loans are up at Gesa Credit Union after the $4 billion financial institution last ...

Sep 09, 2021

American Banker
How credit unions are helping communities hit by Ida, wildfires

 

“When we are able to holistically integrate with a credit union or lender and help disburse loans as they are needed...

Sep 03, 2021

Bank Automation News
Numerica Credit Union anticipates reaching underbanked population with Scienaptic AI

Numerica Credit Union will use alternative credit scoring solution Scienaptic AI to automate credit risk  ...

Sep 01, 2021

CUNA
The AI imperative

It’s just as important for small credit unions such as $125 million asset Northern Hills Federal Credit Union in Sturgis, S.D., to ...