Powering Ahead: Tower Federal Credit Union Goes Live on Scienaptic's AI-Powered Credit Decisioning Platform

Initial tests indicate opportunity to approve more members through sharp, flexible, and automated decisioning

NEW YORK - April 19, 2023 - PRLog -- Leading global AI-powered credit decision platform provider Scienaptic AI announced that Tower Federal Credit Union is now live on its AI-powered platform. Integrating the AI platform with Tower Federal Credit Union's Loan Origination System (LOS), MeridianLink Consumer, and going live enables the credit union to improve its loan decisioning process and make advanced decisions for its members.

Established in 1953 and headquartered in Laurel, Md., Tower Federal Credit Union has grown to be the largest federal credit union in Maryland with over $4 billion in assets and more than 200,000 members worldwide providing a full array of financial products and services. The deployment of Scienaptic's AI-powered platform is enabling the credit union to significantly enhance a member's digital experience through instant loan decisioning and higher approvals.

"For 70 years, Tower Federal Credit Union has been dedicated to sound money management, prudent lending practices, superior service, and untiring innovation," said Eric Sloan, Vice President, Consumer Lending at Tower Federal Credit Union. "With Scienaptic's game-changing AI, we are able to bring automation to a whole new level, empowering us to leverage vast amounts of data and approve loans faster than ever before. But it's not just about efficiency; it's about providing an unparalleled member experience. We are proud to say that our commitment to innovation and excellence continues to drive us forward."

"We are delighted that Tower Federal Credit Union is now live on our platform and our technology is helping them automate credit decisioning and enhance the member experience," said Pankaj Jain, President and Co-Founder of Scienaptic AI. "Our platform empowers both members and Tower Federal Credit Union by increasing efficiency and minimizing risk."

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 300 million transactions, benefitting millions of borrowers. For more information, visit http://www.scienaptic.ai

Media Contact
Chandan Pal
***@scienaptic.com
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