Case Study: Meridian Trust Federal Credit Union achieves a 50% increase in auto loan approvals with Scienaptic AI

Automating Auto Lending with AI enabled decisioning

Meridian Trust Federal Credit Union, a financial institution serving over 32,000 members, faced challenges with low approval rates and a manual underwriting process for its high volume of auto loan applications. They partnered with vendor Scienaptic AI to find an automated solution that would expand credit accessibility and seamlessly integrate with their existing Symitar Enhanced Loan Application system.

Scienaptic AI implemented its intelligent decisioning platform to automate the underwriting process. The solution used AI models and alternative data to assess risk and provide credit decisions in seconds. This resulted in a 50% increase in auto loan approvals and significantly shorter decisioning cycles for Meridian Trust, allowing them to serve more creditworthy members.

Meridian Trust Federal Credit Union

Michael Barnhardt Jr.

Chief Lending Officer