Meridian Trust Federal Credit Union Launches Scienaptic’s AI-Powered Credit Decision Platform
Early results indicate potential for over 50% automatic approvals for auto loans
NEW YORK, May 24, 2022–(BUSINESS WIRE)–Scienaptic AI, the world’s leading provider of AI-powered credit decision platforms, today announced that Meridian Trust Federal Credit Union is now live on its platform. The implementation will help the credit union strengthen its loan portfolio, make faster lending decisions, and empower its community of members through better access to credit.
Founded in 1954, Meridian Trust Federal Credit Union is a full-service credit union, providing its members with a full range of financial products and services. With locations in Wyoming, Colorado and Nebraska, the credit union is committed to making life more convenient for its members and improving their experiences. Through the deployment of Scienaptic’s platform, Meridian Trust FCU offers advanced and automated credit decisions to streamline the lending decision, expand its member base, and increase credit availability for its members.
“At Meridian Trust Federal Credit Union, we believe everyone deserves a chance to thrive, financially and otherwise. Deploying Scienaptic’s AI-powered platform helps us provide fast access to credit, take decisions in less time and provide our members with personalized services As early results indicate, an increase of more than 50% in auto loan approvals will help us have many more proud vehicle owners in our community,” said Michael Barnhardt Jr., director of loans at Meridian Trust Federal Credit Union.
“Seeing businesses and individuals prosper by getting the right financial assistance is a great satisfaction. We are delighted that the deployment of our platform is helping Meridian Trust Federal Credit Union achieve this goal,” said Pankaj Jain, President and Co-Founder. from Scienaptic AI. “Our industry-leading credit decision-making platform will significantly enhance Meridian Trust’s financial awareness initiatives and lead to an enhanced member experience and inclusive access to credit.”
Scienaptic is on a mission to increase the availability of credit by transforming the technology used in credit decision making. Over 150 years of credit experience is integrated into Scienaptic’s AI-powered native credit decision platform. Our clients from banks, credit unions, fintech and other lenders use the platform to constantly improve the quality of underwriting decisions. This allows them to say “yes” to borrowers more often and faster.
The platform is used by lenders with assets exceeding $100 billion, enabling them to process more than $22 billion in credit decisions, benefiting more than two million credit union members and million borrowers at banks, car lenders and online. For more information, visit http://www.sciaptic.ai.
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