Case Study: a leading financial institution accelerates profitable auto lending growth with Scienaptic AI

Sharper credit decisioning to accelerate profitable growth in auto lending portfolio using AI

A leading financial institution engaged Scienaptic AI to address challenges within its auto lending portfolio. The client was facing increased delinquencies and was unable to grow its portfolio without taking on more risk. Key issues included a stagnant 43% approval rate, a high 30-day delinquency rate of 3.8%, and a low rate of straight-through processing which created a poor customer experience due to excessive manual intervention.

By deploying its AI platform, Scienaptic AI implemented robust predictive models that utilized alternative data from smart devices. The solution created a strategy continuum for better risk-versus-growth decisions and significantly improved the credit process. This resulted in a 32% increase in approvals, a 120 basis point reduction in loss rates, and a major jump in straight-through processing to 61%, up from 23%. The Scienaptic AI platform now processes over 100,000 applications every month for the client.