Advantage Plus Federal Credit Union Taps Scienaptic's AI-powered Credit Underwriting Platform

NEW YORK - Aug. 26, 2024 - PRLog -- Scienaptic AI, a leading global provider of AI-powered credit underwriting platforms, announced today that Idaho-based Advantage Plus Federal Credit Union has selected its platform to expand credit access for its member community. Scienaptic's regulatory-compliant AI platform will enable Advantage Plus FCU to make sharper risk predictions, automate decisions, and offer more inclusive lending to its members.

Since its founding in 1953, Advantage Plus FCU has consistently focused on the betterment of its members. With over $260 million in assets and a membership base of 21,000, the credit union prioritizes offering diverse products, supplemental resources, and personalized interactions tailored to the unique needs of citizens in Southeast Idaho and Star Valley. This commitment is reflected in the credit union's mission, which continues to guide the institution today. Advantage Plus FCU now comprises eight branches across Southeastern Idaho and Star Valley, WY.

"For over 70 years, our credit union's deep love for its community has shone through in everything we do, growing from humble beginnings, thanks to the hard work and dedication of our people," said Brent Neibaur, CEO of Advantage Plus FCU. "By leveraging Scienaptic's platform, we will elevate our underwriting capabilities and amplify our commitment to serve our community with even greater impact. Our goal is to provide credit that is both budget-friendly and tailored to each individual's needs. Scienaptic's AI-powered data-driven insights and automation will empower our underwriters to focus more on complex loan applications, making the process more agile and efficient. This technology will be a game changer for our community, and enable us to better serve our underserved members and truly make a difference."

Pankaj Jain, President and Co-founder of Scienaptic, "We're excited to welcome Advantage Plus Federal Credit Union to our family of forward-thinking credit unions and bring the power of AI to their underwriting process. Our technology will enable Advantage Plus FCU to make faster, more accurate lending decisions while ensuring fair and unbiased assessments for every member. By leveraging deep data insights, we'll help them offer personalized loans that truly meet the needs of their member communities. We believe that soon, AI will be a cornerstone for every credit union, driving fairness and efficiency in lending like never before."

About Scienaptic AI

Scienaptic AI's mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.

The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say "yes" more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions.

Scienaptic-enabled lenders have processed more than 400 million transactions, benefitting millions of borrowers. For more information, visit http://www.scienaptic.ai