Case Study: a US-based auto lender company achieves 21% more credit approvals with Scienaptic AI

Strengthening lending portfolio of US-based auto lender using AI

A US-based auto lender was struggling with a time-consuming, manual review process for the majority of its loan applications. They needed a solution to automate lending decisions in order to approve more loans faster, reduce risk, and maintain their mission of providing financing options for applicants with less-than-perfect credit. To achieve this, they partnered with vendor Scienaptic AI and implemented its AI-powered decisioning platform.

Scienaptic AI deployed its Decision Cloud, which integrated seamlessly with the lender's existing system and used AI to analyze application data, 700Credit data, and alternative data attributes. The solution provided customized strategies and ensured compliance. This implementation by Scienaptic AI delivered significant results, including a 15% reduction in credit losses, a 21% increase in loan approvals, and a 63% rise in automation.