Deployment of AI platform to bolster auto loans
Leading global AI-powered credit decision platform provider Scienaptic AI announced that Arkansas Federal Credit Union has chosen its AI-based underwriting technology to improve the credit union’s loan decisioning process and make advanced decisions for community members.
“We are excited to be part of this journey to bring empowerment and growth opportunities to the state of Arkansas.”
Arkansas Federal, which has been serving Arkansans since 1956, provides a full suite of financial products and services to more than 130,000 members. As a member-owned credit union, Arkansas Federal’s purpose is to make a difference in the lives of its employees, members and the communities it serves. With Scienaptic AI’s credit underwriting platform, Arkansas Federal will be able to increase credit access for its community through instant loan decisioning and higher approvals.
Latest Fintech News: Fundmore.ai and Filogix Announce Strategic Partnership Interface
“At Arkansas Federal, we are focused on ensuring access to credit to our members so that they can achieve their financial goals, whether that’s buying their first home or refinancing their debt so that they can have peace of mind,” said Terry Vick, executive vice president and chief lending officer at Arkansas Federal. “With Scienaptic’s AI technology, our loan decisioning will become automated, sharper and faster, enabling us to provide loans to members whose credit scores are unfairly low while enhancing everyone’s ability to get fair rates backed by local service.”
Latest Fintech News: Paysend Helps People in the UK Improve Their Financial Health With Paysend Grow
“Our cutting-edge AI-enabled credit underwriting technology will help Arkansas Federal increase approval rates and lend with more confidence. Our platform helps to empower both members and credit unions by increasing credit access and minimizing risk while increasing the number of beneficiaries,” said Pankaj Jain, President of Scienaptic. “We are excited to be part of this journey to bring empowerment and growth opportunities to the state of Arkansas.”
Latest Fintech News: Zvilo Signs Terms to a €50 Million Debt Facility With a London-Based Fintech Fund
[To share your insights with us, please write to sghosh@martechseries.com]
