Initial tests show potential for 70-90% increase in automated decision-making and double-digit increases in credit approvals for card and auto portfolios
Leading global AI-powered credit decision platform provider, Scienaptic AI announced that Bethpage Federal Credit Union is planning to implement its AI-powered credit decisioning platform. This deployment will enable the credit union to make faster, smarter credit decisions to increase loan approvals and support the financial goals of its members.
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Bethpage Federal Credit Union is a premier financial institution committed to enriching the lives of its members, employees and the communities it serves for over 80 years. Serving over 400,000 members every day, Bethpage is the largest credit union in the Northeast region, as well as 14th largest in the nation. By leveraging Scienaptic’s AI-powered credit underwriting platform, the credit union will be able to extend more credit access to its current members, as well as reach more potential borrowers.
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“Just like when we first opened our doors for Grumman employees in 1941, we’re keeping our promise to continuously meet the changing needs of our members,” said John Witterschein, Vice President, Consumer Credit, Bethpage Federal Credit Union. “The move to Scienaptic’s AI platform will increase credit access for members, enhance member experiences and enrich their lives through innovative credit products. Initial tests show promising results in terms of approval rates and instant decisions, in line with our vision of being a trusted financial partner committed to excellence.”
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“We are excited to be working with the innovative team at Bethpage Federal Credit Union,” said Pankaj Jain, President, Scienaptic. “Our motto has always been to transform lives and this partnership will do just that for the members of Bethpage Federal Credit Union. Our AI will empower more loan approvals, provide personalized member decisions and expand its member base, without increasing risk.”
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