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Innovations Financial Credit Union Goes Live With Scienaptic's AI-Powered Platform to Enhance Credit Decisions

Scienaptic to drive faster and higher approvals, along with expanded auto-decisioning

Incorporating AI into Strategic Roadmaps Of Credit Unions



Mar 6, 2023

Leading global AI-powered credit decision platform provider Scienaptic AI announced today that Innovations Financial Credit Union is now live on its AI-powered underwriting platform. As part of the deployment, Scienaptic's AI platform was integrated with Innovations Financial Credit Union's Loan Origination System (LOS), MeridianLink Consumer. Innovations FCU is using Scienaptic to streamline the credit underwriting processes, increase loan approval rates, and boost automated loan decisions.

Founded in 1952, Innovations Financial Credit Union is headquartered in Panama City Beach, Fla. With an asset size of over $ 364 million, the credit union has been servicing more than 23,000 members in the Northwest Florida Panhandle region for 70 years. Innovations Financial Credit Union is a member-owned credit union that operates six branches in Bay County and provides a wide range of financial services to individuals and businesses. In addition to its Octane program to support entrepreneurial ventures and its Green Path Financial Wellness initiative, Innovations FCU provides a variety of services and products, including financial counseling, debt management planning, and education to its members.

"Every member at Innovations Financial Credit Union is valued. We pay attention to their individual financial needs and requirements, making them feel heard," commented David A. Southall, President, and CEO of Innovations Financial Credit Union. "Our members are already starting to benefit from Scienaptic's AI-powered credit decisioning platform, which is allowing us to approve loans faster, make quicker decisions, and provide personalized financial assistance. Initial results are very promising, and our team is looking forward to being part of this disruption that will bring better opportunities to Northwest Florida."

In commenting on the deployment, Pankaj Jain, Co-founder & President of Scienaptic, said, "At Scienaptic, we empower members and credit unions alike. Innovations Financial Credit Union is deriving value from our AI-powered platform by streamlining its underwriting process, strengthening its lending portfolio, and making faster decisions. As a result, members have better access to credit and a better experience."

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

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