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Advantage One Credit Union Selects Scienaptic’s AI-Powered Credit Underwriting Platform

Incorporating AI into Strategic Roadmaps Of Credit Unions


Jan 9, 2022

Leading AI-powered credit decision platform provider, Scienaptic announced today that Advantage One Credit Union has chosen its AI-based underwriting platform to complement its lending process and make advanced loan decisions.

Founded in 1952, Advantage One Credit Union started with serving employees of McLouth Steel Corporation. Over the decades, the credit union has grown, with $208 million in assets and two branches in southeast Michigan that offer a range of financial products and services. These services are spread across digital banking, personal finance, mortgage, auto loans and more. Advantage One prides itself in offering superior financial services than most big banks. The deployment of Scienaptic’s AI-powered loan decisioning platform will further its reach throughout Michigan, providing members with better access to credit by approving more loans, faster.

“At Advantage One, we pride ourselves in taking steps for the community, whether it is through offering superior financial products for our members or performing a range of charity work in the state,” said Nicholas Schmitter, Chief Lending Officer at Advantage One. “Scienaptic's AI-powered credit decisioning platform will allow us to go the extra mile we have always wanted to go. It will automate our loan decisions, empower us to know our members better and say ‘yes’ to their loan requirements faster. It will also give better access to credit to so many deserving members who aren’t deemed fit according to traditional credit scores.”

“We are thrilled to have the chance to change lives in the state of Michigan by offering our industry leading credit underwriting platform to Advantage One,” said Pankaj Jain, President of Scienaptic. “Our platform will allow Advantage One to not only approve more loans faster but also enhance member experience, minimize risk, and reach out to more members all at the same time!”

About Scienaptic

Scienaptic is on a mission to increase credit availability by transforming technology used in credit decisioning. Over 150 years of credit experience is embedded in Scienaptic's AI native credit decision platform. Our clients across banks, credit unions, fintech, and other lenders use the platform to constantly improve the quality of underwriting decisions. This enables them to say ‘yes’ to borrowers more often and faster. The platform is used by lenders with assets exceeding $100 billion, enabling them to process over $22 billion in credit decisions, benefitting over two million credit union members and millions of borrowers across banks, auto and online lenders.

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