Partner Colorado Credit Union Goes Live On Scienaptic's AI-Powered Credit Underwriting Platform
Initial tests show 30-50% gains in automated approvals and up to 20% reduction in losses
By: Scienaptic AI
Partner Colorado Credit Union was established in 1931 and was initially known as Denver Postal Credit Union. For over 90 years, Partner Colorado has safeguarded the financial well-being of its members. The credit union has grown in strength and now serves over 34,000 members and is $567 million in assets. Scienaptic's AI-powered credit underwriting platform is enabling Partner Colorado to reduce risks and increase loan approvals, which is a win-win for the credit union and its members.
"Partner Colorado is built on the values of responsiveness and resourcefulness – we continuously look for new ways to help our members achieve their dreams and improve their financial well-being,"
Correspondingly, Pankaj Jain, President of Scienaptic AI, stated, "It is incredibly satisfying to play a role in a member's journey towards realizing their dreams, and through our partnership with Partner Colorado, we are able to deliver on this mission by enabling advanced and faster loan decisioning. Our AI-powered credit underwriting platform is increasing credit access, elevating member experience, and reducing risk, all at the same time."
Scienaptic AI's mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.
The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say "yes" more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions.
Scienaptic-enabled lenders have processed more than 200 million transactions, benefitting millions of borrowers.
For more information, visit http://www.scienaptic.ai