Scienaptic AI Partners with DigiFi to Provide Advanced Credit Scoring
DigiFi clients can now access Scienaptic’s AI-powered signals
Jan 3, 2024
Scienaptic AI, a leading global AI-powered credit decision platform provider, announced its integration partnership with DigiFi, the financial industry's leading platform for automated digital lending. With this integration, DigiFi clients can seamlessly access Scienaptic’s advanced AI-powered signals for lending.
Today's borrowers expect a seamless lending experience that includes easy credit access and a personalized loan offering. Integrating DigiFi's loan origination system and Scienaptic’s AI-powered signals will enable financial institutions to automate their lending, approve more loans and increase credit availability for their members. The partnership will increase the adoption of AI for lending and give more members access to fair credit. Lenders leverage Scienaptic AI's signals to boost approval rates while holding the loss rates constant. Clients typically experience a substantial 15-40% increase in approval rates. The platform also delivers notable advantages such as a significant rise in automated decisions and a decrease in bias across protected consumer classes.
DigiFi provides a next-generation loan origination system to banks, credit unions, finance companies and fintechs. DigiFi's cloud-based platform enables the automated online delivery of multiple consumer lending products through a single platform, driving better customer experiences and lower operating costs. DigiFi was founded in 2017 and has offices in the US and Europe.
“DigiFi is dedicated to empowering lenders to provide digital access to credit that impacts people's lives, and we love how Scienaptic is helping lenders expand who they can serve,” said Joshua Jersey, CEO and Co-Founder of DigiFi. “The integration of both platforms is an exciting opportunity to bring Scienaptic’s AI-powered credit signals to our clients. As a result, our clients will have the opportunity to incorporate AI into their lending process and make smarter, automated decisions. In addition, this partnership will enhance their borrowers’ experience, increase approvals and expand access to credit.”
Pankaj Jain, Co-Founder & President of Scienaptic AI, said, "We are very excited to partner with DigiFi. Our partnership removes the integration hurdles that prevent lenders from implementing AI. This partnership will increase the adoption of AI and allow more members to access credit. As a result, we will be able to drive faster and smarter loan decisions for financial institutions and empower their members and customers to say "yes" more often.”
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.
DigiFi is an all-in-one loan origination system that streamlines the lending journey from application through funding, powering a best-in-class experience for borrowers and teams. DigiFi helps lenders break free from the limitations of inflexible legacy systems with a modern LOS that can be configured for any lending product, anywhere in the world.
DigiFi-enabled lenders have processed more than $100B in loan applications. For more information, visit www.digifi.io.
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