Scaling New Heights: Mountain Credit Union Taps Scienaptic’s Platform To Transform Credit Decisioning
Oct 10, 2023
Leading global AI-powered credit decision platform provider, Scienaptic AI, announced today that Mountain Credit Union has chosen to implement its AI-powered credit decisioning platform. The credit union aims to enhance and automate its credit decisioning by utilizing Scienaptic's fair, inclusive, and regulatory-compliant AI platform. As part of this deployment, Scienaptic will leverage its existing integration with the credit union’s LOS Symitar ELA to enable seamless AI-enabled decisions with greater speed and accuracy.
Mountain Credit Union was originally formed in 1963 to serve federal employees in Western North Carolina. Over the years, the credit union expanded its field of membership by taking in SEGs (Select Employee Groups) as there were many companies in the region that were unable to provide credit union service to their employees. Today the credit union has $338MM in assets and serves over 29k members across 12counties in North Carolina. The credit union’s mission is to provide its membership with high-quality financial services and is committed to its philosophy of people helping people.
“Community, resiliency, and adaptability are three cornerstones of Mountain Credit Union’s ‘People helping People’ mission,” said Tanya Haskett, VP Lending & Branch Administration. “The fourth is vision; Scienaptic marks the next step in our journey toward advancing our 'people helping people' mission, enabling sharper and more inclusive lending decisions. The platform will allow us to automate our underwriting process, extend our reach to underserved community members and reduce our loan application processing time, ensuring our members receive swift credit decisions. It will not only bolster our competitive edge in efficiency but also equip our dedicated underwriting team with the means to make quicker, more personalized credit assessments. We're thrilled to embark on this journey with Scienaptic, anticipating the profoundly positive impact it will bring!"
Pankaj Jain, President of Scienaptic AI, said, "I am thrilled to see Mountain Credit Union's choice to embrace our credit underwriting platform. With our platform, they are poised to enhance the member experience, make AI-driven, compliant loan decisions, and manage risk effectively. It's a privilege to join forces with Mountain Credit Union in its mission to empower members on their financial journeys. We remain dedicated to extending our cutting-edge technology to credit unions, advancing the financial well-being of members nationwide.”
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