Michigan Credit Union League and Scienaptic collaborate in new AI venture for Michigan credit unions
NEW YORK – Jan. 31, 2022 – Leading global AI-powered credit decision platform provider, Scienaptic AI announced an AI collaboration with the Michigan Credit Union League (MCUL). This alliance will enable the company to offer its AI-powered credit underwriting technology to credit unions throughout Michigan.
Organized in 1934, MCUL has a proud tradition of innovation and leadership among the nation’s credit union trade associations. The partnership with Scienaptic will enable MCUL to deepen its commitment towards serving its members, expanding their market presence and improving their financial status.
Scienaptic’s current Michigan clients include Advantage One Credit Union and 4Front Credit Union.
In a recent press release, Nicholas Schmitter, Chief Lending Officer at Advantage One, said, “Scienaptic’s AI-powered credit decisioning platform will allow us to go the extra mile. It will give better access to credit for many deserving members.”
Scienaptic’s mission is to increase credit availability by transforming technology used in credit decisioning. Clients across banks, credit unions, fintechs and other lenders use the platform to constantly improve the quality of underwriting decisions. This enables them to say “yes” to borrowers more often and faster.
“Our partnership with Scienaptic is based on an alignment of core missions: to help credit unions better provide for their members,” said MCUL CEO Patty Corkery. “We believe this platform is the next step forward to allowing nearly 5.8 million members access to the financial services they need.”
“This alliance represents an opportunity for Michigan credit unions to take advantage of innovation and AI in the lending industry,” said MCUL VP of Michigan Solutions Eric Loehr. “The use of Scienaptic’s AI-based credit underwriting platform will play a key role in helping our credit unions grow membership, strengthen charters and provide excellent service to members.”
“We are excited for this collaboration as our platform will allow credit unions in the Michigan to grow their loan portfolios and enrich member lives while minimizing their risk,” said Kathryn Bonesteel, Head of Partnerships at Scienaptic AI. “It will also enable them to reach underserved members and enhance member experience.”
About Michigan Credit Union League
The Michigan Credit Union League (MCUL) is headquartered in Lansing, Michigan. It enjoys 100 percent affiliation among its 208 member credit unions that serve 56 percent of Michigan’s population with nearly 5.8 million members and total assets of $92 billion. Its cooperative advertising program, “Banking Built for People” promotes the good works of this not-for-profit industry.
Scienaptic is on a mission to increase credit availability by transforming technology used in credit decisioning. Over 150 years of credit experience is embedded in Scienaptic’s AI native credit decision platform. Our clients across banks, credit unions, fintech, and other lenders use the platform to constantly improve the quality of underwriting decisions. This enables 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 over $22 billion in credit decisions, benefitting over two million credit union members and millions of borrowers across banks, auto and online lenders. For more information, visit http://www.scienaptic.ai.