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NEW YORK, June 27, 2022 /PRNewswire-PRWeb/ -- Leading global AI-powered credit decision platform provider Scienaptic AI announced that Class Act Federal Credit Union is now live on its platform. This deployment is enabling Class Act to streamline and automate their credit underwriting process, increase approvals and enhance member experience.
Class Act Federal Credit Union was established by a small group of Jefferson County Public Schools (JCPS) teachers in 1954 to serve the personal finance needs of teachers and other school employees. At that time, teachers had very limited access to loans or credit of any kind. The credit union filled this need and did so at competitive rates. Other area school districts expressed interest, and within a few short years, the credit union was serving all public-school employees in the Metro Louisville area as well as employees from a sizable number of private schools. In 1994, Class Act's field of membership expanded to include the University of Louisville by way of a merger with the University of Louisville Student & Alumni Credit Union.
"We are proud to be offering an industry leading underwriting technology to fulfill the personal financial needs of our local educational community," said Stephen Green, Vice President of Lending at Class Act Federal Credit Union. "The deployment of Scienaptic's AI-powered credit decision platform, is enabling us to provide more personalized offerings to educators, broaden our member reach and enhance our member experience."
"We are thrilled to announce that Class Act Federal Credit Union is now live on our platform," said Pankaj Jain, President of Scienaptic AI. "The impact our platform is making on Class Act's credit decisioning abilities is going to help thousands of members in the community in several ways including higher approval rates, minimized risk, reduction in wait time for loan processing and serving the underserved educators."
About Scienaptic AI
Scienaptic AI's mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Whether credit union, auto lender, bank, or fintech, Scienaptic's AI native credit decisioning platform enables lenders to constantly improve the quality and speed of their underwriting decisions, helping them reach a greater number of borrowers, including underbanked and underserved individuals, and say "yes" more often, without increasing risk while addressing all Regulatory aspects especially Fair lending and explainable adverse actions.
The company's AI platform is used by lenders of all sizes, integrating seamlessly with their existing systems. Scienaptic-enabled lenders have processed more than 190 million transactions worth $36 billion in credit decisions, benefitting millions of borrowers, and helping them get access to the credit they need. For more information, visit http://www.scienaptic.ai.
Media Contact
Chandan Pal, Scienaptic AI, 91 9886752442, [email protected]
SOURCE Scienaptic AI
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