Bay Motor Finance Goes Live With Scienaptic's AI-Powered Credit Decisioning Platform
Scienaptic’s solution will allow automated score-based decisioning
Jul 24, 2023
Leading global AI-powered credit decision platform provider, Scienaptic AI, announced today that Bay Motor Finance is now live on its AI-based underwriting platform to automate and streamline its credit decisioning.
Headquartered in Glen Burnie, MD, Bay Motor Finance was created three years ago out of Bay Country Financial Services. The organization aims to provide vehicle financing within the Maryland and Delaware corridors to franchises and independent vehicle dealers catering to customers with near-prime and subprime credit. The company specializes in car financing, independent dealer financing, and dealership financing and believes in building business on a foundation of trust and quality of service, not the number of customers.
"For over three decades, our team has been steadfastly pursuing our founder's vision of making financing accessible to all, while fostering a customer-centric business approach. In Scienaptic, we have discovered a partner that truly upholds these principles," expressed David Danlag, ExecutiveVice President of Bay Country Financial Services. "Our team is thrilled to go live on Scienaptic's AI platform as we embark on a journey to streamline and automate our credit decisions. This invaluable tool offers enhanced customer insights, enabling us to deliver personalized loan decisions and helping us to extend our reach to thin file applicants, supporting their dreams while effectively managing risk. With this transformative capability, we will be able to scale our business and empower our customers, one brick at a time, one step at a time, and one loan at a time.”
Pankaj Jain, Cofounder and President of Scienaptic AI, shared an inspiring message, saying, "The successful deployment of our platform at Bay Motor Finance marks an exciting chapter as they embark on their AI-powered loan decisioning journey. A car represents more than just transportation—it embodies independence, freedom, and opportunity. At Scienaptic, we firmly believe in empowering everyone with such possibilities, irrespective of their credit scores. Our platform is revolutionizing credit decisioning for Bay Motors Finance with enhanced efficiency, precision, and customer satisfaction, and empowering aspiring vehicle owners to fulfill their dreams.”
About Scienaptic AI
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.
The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say “yes” more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions.
Scienaptic-enabled lenders have processed more than 300 million transactions, benefitting millions of borrowers. For more information, visit http://www.scienaptic.ai