Resource One Credit Union Leads the AI Adoption and Goes Live with Scienaptic’s Fair & Inclusive Credit Decisioning Platform
Initial tests indicate 10-25% more approvals and 40%+ automation
May 15, 2023
Leading global AI-powered credit decision platform provider Scienaptic AI announced today that Resource One Credit Union has gone live with its AI-based underwriting platform to automate and streamline its credit decisioning and expand its member base. As part of the deployment, Scienaptic’s AI platform was integrated with Resource One Credit Union’s Loan Origination System (LOS), MeridianLink Consumer, resulting in streamlined lending operations and AI-enabled decisions with greater speed and accuracy.
Resource One Credit Union serves over 70,000 members throughout Dallas and Northwest Harris Counties with more than $800 million in assets. It offers better-than-bank rates, allowing members to save more and earn more. As a credit union, its focus is to provide members with a new choice in banking by focusing on their needs and future success. Resource One provides members with top-notch online banking, an award-winning mobile banking app, and free personal financial management, budgeting, and debt management tools.
"We are passionate about making a positive impact on people's lives, and we go above and beyond to help our members in every way possible. From the moment a member joins us and throughout their financial journey, we strive to bring energy and enthusiasm to each interaction," said Doug Bedner, Chief Lending Officer at Resource One Credit Union. “With Scienaptic's fair, inclusive, and compliant AI platform, we can now take our commitment to the next level by identifying more opportunities to assist and delight our members. The automation and streamlining of our credit decision-making process is not just about removing bottlenecks and increasing credit approvals, it's about empowering our underwriters to focus on the complex loans that truly matter to our members. With this innovative technology, we are making a real difference in the lives of our members, and that is what drives us every day."
“Resource One Credit Union Credit Union and Scienaptic share a common vision i.e., to help members succeed in every aspect of their financial journey,” said Pankaj Jain, Cofounder & President of Scienaptic. “We are elated that Resource One Credit Union is live on our platform and leveraging our industry-leading technology to increase credit approvals, minimize risk, and help the underserved get access to the credit they need and deserve. We are honored to be part of Resource One Credit Union’s journey, helping to bring new growth opportunities and financial empowerment to its members.”
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.