Bay Motor Finance Selects Scienaptic's AI-Powered Platform To Transform Credit Decisioning for Auto Loans
Apr 6, 2023
Leading global AI-powered credit decision platform provider, Scienaptic AI, announced today that Bay Motor Finance has chosen 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, who provides loans to consumers. 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 sub-prime 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.
“At Bay Motor Finance, we believe in providing accessible financing for everyone. We're excited to announce that we're taking this mission to the next level with the help of an incredible new tool,” said David Danlag, Executive Vice President, Bay Country Financial Services and Bay Motor Finance “With Scienaptic’s AI platform we will be able to approve more loans, create more opportunities for our customers, while reducing risk and making personalized financial decisions that align with our values. The Scienaptic team truly understands the challenges of automobile financing and have built a platform that addresses all our needs. We're confident that we'll be able to build a better business and empower our customers, one brick at a time, one step at a time, and one loan at a time.”
Correspondingly, Pankaj Jain, Cofounder and President of Scienaptic AI said, "We're thrilled to partner with Bay Motor Finance as they embark on their journey to power their loan decisioning process with AI. A car isn't just a vehicle - it's a symbol of independence, freedom, and opportunity. We, at Scienaptic believe that everyone deserves access to that kind of empowerment, regardless of their credit score. We're confident that our platform will bring new levels of efficiency, accuracy, and customer satisfaction to Bay Motor Finance, and empower aspiring vehicle owners to fulfil 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