OnTap Credit Union® to Deploy Scienaptic’s AI-Powered Credit Underwriting Platform
Jun 22, 2022
Leading global AI-powered credit decision platform provider Scienaptic AI announced that On Tap Credit Union has chosen to implement Scienaptic’s AI-powered credit decisioning platform. This deployment will enable On Tap Credit Union to streamline and automate its credit underwriting process, increase approvals, and enhance the member experience.
Headquartered in Golden, On Tap Credit Union was established as Coors Credit Union in 1954 by eight employees of Coors Brewery to serve the needs of their fellow employees. Over the years it has grown to 68 employees and 20,000 members at 2 location s and is now the 13th largest credit union in the state of Colorado. The credit union believes that the unique nature of the Colorado brewing community should be recognized, celebrated and supported, which is why they craft financial solutions for those who make and enjoy beer”
“At On Tap Credit Union, we strive to pursue a greater purpose of serving our members and crafting solutions best suited to their needs,” said Tracie Wilcox, CEO of On Tap Credit Union. “When we met with the Scienaptic team, we realized that our goals were truly aligned, i.e. enabling fair, transparent lending for members. Their credit decisioning platform will empower us to use industry-leading technology with our signature personal touch to make personalized loan decisions, enhance member experience and streamline our credit decisioning process.”
On Tap Credit Union selected Scienaptic for more than just an outstanding solution, but also because they fit into the On Tap K.E.G. of Excellence culture standards which include kindness, elegance and genuineness.
“We knew the Scienaptic AI was the right partner as they shared their cultural beliefs of collaboration, teamwork, and a passion for truly helping people,” said Tony Nieto VP of Lending.
“We are thrilled to partner with On Tap Credit Union and help them automate their loan decisions and provide access to necessary financial assistance to its members,” said Pankaj Jain, President of Scienaptic AI. “Our platform will help On Tap increase loan approvals and provide greater credit access to underserved members, transform member experience, and continue their mission of crafting unique solutions for every member!”
About Scienaptic AI
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Whether credit union, auto lender, bank, or fintech, Scienaptic's AI native credit decisioning platform enables lenders to constantly improve the quality and speed of their underwriting decisions, helping them reach a greater number of borrowers, including underbanked and underserved individuals, and say “yes” more often, without increasing risk while addressing all Regulatory aspects especially Fair lending and explainable adverse actions.
The company’s AI platform is used by lenders of all sizes, integrating seamlessly with their existing systems. Scienaptic-enabled lenders have processed more than 190 million transactions worth $36 billion in credit decisions, benefitting millions of borrowers, and helping them get access to the credit they need. For more information, visit http://www.scienaptic.ai.
About On Tap Credit Union
Formerly Coors Credit Union, On Tap Credit Union is a full-service cooperative financial institution serving people living and working in Jefferson, Denver, Boulder, and Larimer counties. Founded in 1954, the credit union has $379 million in assets and 20,000 members who are also owners of the organization. The credit union provides personal consultation and financial solutions including vehicle, mortgage, and home equity loans, credit cards, insurance, savings and investment accounts, and financial guidance, as well as a full suite of business services including a variety of commercial lending solutions. For more information, please visit http://www.OnTapCU.org.