Billings Federal Credit Union Goes Live With Scienaptic’s Platform For Innovative Credit Decisioning
Scienaptic to drive faster approvals, expanded auto-decisioning, and sharper insights
Mar 20, 2023
Leading global AI-powered credit decision platform provider Scienaptic AI announced today that Billings Federal Credit Union is now live on its AI-powered underwriting platform. As part of the deployment, Scienaptic’s AI platform was integrated with Billings Federal Credit Union’s Loan Origination System (LOS), Symitar ELA enabling faster and sharper AI-enabled lending decisions.
Billings Federal Credit Union was established in 1935 as a federally chartered credit union. In its over 80-year history, it has continued to grow over $197MM in assets serving over 12,000 members in Yellowstone, Big Horn, and Carbon Counties, Montana. Billings FCU offers its members a wide range of financial products and services and focuses on simplifying its members’ lives and helping them achieve financial success. Scienaptic’s platform is enabling the credit union to automate and streamline its credit decisioning.
"80 years on and our commitment to exceptional financial services remains unshakeable," said Tom Boos, CEO of Billings Federal Credit Union. "With the deployment of Scienaptic’s platform, we're not only setting the bar higher but also propelling ourselves into the future of financial services. By automating and streamlining our lending decisions, we are focusing on the complex loan applications of underserved members. This technological leap is a crucial chapter in our story, and we're ready to serve our members better than ever before."
“We are thrilled that Billings FCU is now live on our platform and using AI to automate their loan decisions and provide access to necessary financial assistance to its members,” said Pankaj Jain, Cofounder and President of Scienaptic AI. “Our platform is highly intuitive and is helping the credit union transform credit decisioning, serve the underserved and minimize risk simultaneously.”
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