Implementation to increase loan approvals and ensure fair, transparent lending for all members
Leading global AI-powered credit decision platform provider Scienaptic AI announced that Picatinny Federal Credit Union has chosen to implement Scienaptic’s credit decisioning platform. This deployment will enable Picatinny Federal Credit Union to streamline and automate its credit underwriting process, increase approvals and enhance the member experience.
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Founded as a one-branch credit union serving Picatinny Arsenal in 1939, Picatinny Federal Credit Union is the 6th largest credit union in New Jersey with assets totaling $458.24 Million and providing banking services to more than 18,000 members with 5 branch locations. The credit union is a full-service financial institution serving Morris County, NJ with the mission of caring about their family of members by offering financial solutions to help them achieve their goals and realize their dreams.
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“At Picatinny Federal Credit Union, we are committed to helping our members pursue their dreams and achieve their financial goals,” said Tony Molina, CEO of Picatinny Federal Credit Union. “Scienaptic’s AI platform will fully automate our loan decisioning process, speed up loan decisions, minimize risk and increase credit access for members through fair and transparent underwriting. This is expected to improve our member experience and enhance our growth.”
“We are driven to improve the financial lives of members Picatinny FCU serves via credit empowerment and personalized decisions delivered through a fair, compliant AI underwriting technology,” said Pankaj Jain, President of Scienaptic AI. “Our platform will help Picatinny Federal increase loan approvals and credit access to underserved members, transform member experience, increase operational efficiency, and minimize risk all at the same time.”
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