Arkansas Federal Credit Union has recently selected an AI-powered credit decision platform, Scienaptic AI, for its AI-based financial technology to enhance the credit union’s loan decision process and offer improved choices for key stakeholders.
Arkansas Federal offers a wide range of financial solutions and services to many members. Being a member-owned credit union, Arkansas Federal’s motive is to bring about a change in the employees, communities, and members’ lifestyles. Arkansas Federal will be ready to expand credit access for its society via providing instant loans and increased approvals, utilizing Scienaptic’s credit allocation platform.
Scienaptic’s mission is to boost credit accessibility by changing technology applied in credit decisioning. Its AI-native credit decision platform has enabled an upgrade of the value of financial decisions.
Terry Vick, Executive Vice President and Chief Lending Officer at Arkansas Federal, stated, “At Arkansas Federal, we are focused on ensuring access to credit to our members so that they can achieve their financial goals, whether that’s buying their first home or refinancing their debt so that they can have peace of mind. With Scienaptic’s AI technology, our loan decisioning will become automated, sharper and faster, enabling us to provide loans to members whose credit scores are unfairly low while enhancing everyone’s ability to get fair rates backed by local service.“
Pankaj Jain, President of Scienaptic, commented, “Our cutting-edge AI-enabled credit underwriting technology will help Arkansas Federal increase approval rates and lend with more confidence. Our platform helps to empower both members and credit unions by increasing credit access and minimizing risk while increasing the number of beneficiaries. We are excited to be part of this journey to bring empowerment and growth opportunities to the state of Arkansas.“