Guardian Credit Union Goes Live With Scienaptic's Advanced AI-Powered Credit Decisioning Platform
Initial tests indicate 40% auto approvals, 10%+ increase in credit approvals
May 2, 2023
Leading global AI-powered credit decision platform provider, Scienaptic AI, announced today that Guardian Credit Union is now live on its AI-powered underwriting platform. As part of the deployment, Scienaptic’s AI platform was integrated with Guardian Credit Union’s Loan Origination System (LOS), Temenos, resulting in streamlined, AI-enabled lending decisions with greater speed and accuracy.
Guardian Credit Union was founded in 1958 to provide savings and loan accounts to members of the Alabama National Guard and their families. Over the years, the credit union has enjoyed steady growth and expanded its membership to 85,000+ members with $900M in assets. Today, the credit union is a full-service financial institution serving the financial needs of individuals, families and businesses in 14 counties across Alabama.
“Our journey to becoming the most trusted financial institution has been defined by our unwavering commitment to providing reliable credit solutions,” said Heath Harrell, CEO of Guardian Credit Union. “Scienaptic's advanced technology is helping us automate and streamline our processes, enabling us to deliver personalized credit offers, and expanding our reach to better serve our underserved members. The incorporation of AI in our credit decisions is a significant milestone in our journey and will empower us to offer the best to our members for years to come.”
Commenting on the deployment, Scienaptic's Cofounder and President, Pankaj Jain, commented on the deployment, "We are excited to have Guardian Credit Union live on our AI-powered underwriting platform. Using the platform’s intelligent, fair, explainable AI decisions is empowering Guardian CU and its Members alike. The deployment is enabling the credit union to increase credit offering to a more diverse membership base, provide personalized Member experience, and increase loan preapprovals with Scienaptic's industry-leading fair & compliant AI technology."
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