Case Study: a leading credit union achieves faster lending decisions and higher approvals with Scienaptic AI

Delivering growth, lending automation and better member experience for a leading credit union

A leading credit union sought to overcome significant challenges with its cumbersome lending process, which took nearly four days to complete a loan. Their existing system relied solely on bureau scores and simple rules, leading to many deserving members being denied credit. They partnered with Scienaptic AI to find an automated digital decisioning solution that would integrate with their current MeridianLink LoansPQ system with minimal disruption.

Scienaptic AI deployed its AI-powered underwriting platform on the credit union's premises. The solution automated data ingestion, risk assessment, and decisioning, and was seamlessly integrated with the existing loan origination system. This implementation by Scienaptic resulted in a 22.3% increase in approval rates and reduced the lending decision cycle time by 71.4%, while 67% of applications were processed straight through for a better member experience.