Patriot Federal Credit Union has implemented artificial intelligence (AI)-driven credit underwriting platform provider Scienaptic AI’s platform and has gone live with it.
The AI-powered system is expected to streamline the credit union’s underwriting process, resulting in higher approval rates and an improved experience for its members.
According to Scienaptic AI, the platform’s deployment ensures fairness, inclusivity, and adherence to regulatory standards.
Scienaptic AI client impact executive vice president Eric Steinhoff said: “We are thrilled that Patriot Federal Credit Union is now live on our credit underwriting platform. Our adaptive AI technology is amplifying the credit union’s mission—helping members reach their financial goals.
“It is also empowering them to expand member reach, approve more loans, mitigate risk, and enhance the overall member experience, creating an inclusive financial future for all.”
Founded in 1965, Patriot Federal Credit Union offers accessible and member-focused financial services. The credit union has assets exceeding $1bn.
It is said to serve over 80,000 members across Franklin County in Pennsylvania, Frederick and Washington Counties in Maryland, and the Eastern Panhandle of West Virginia.
Patriot Federal Credit Union consumer lending senior vice president Tricia Wareham said: “Scienaptic’s AI technology is helping us automate and streamline our lending processes, enabling us to deliver personalised credit offers, increase approvals, enhance credit access and experience for our members.
“The incorporation of AI in our credit decisions is a significant milestone in our journey and is empowering us to offer the best to our members for years to come.”
Scienaptic AI is focused on driving credit availability around the world by transforming the technology used in credit decisioning.
The firm’s AI native credit decisioning platform is utilised by credit unions, auto lenders, banks, and fintechs to enhance the quality and speed of their underwriting decisions.
Last month, Barksdale Federal Credit Union selected Scienaptic AI to expand credit access for the former’s member community.
By leveraging Scienaptic AI’s regulatory-compliant AI platform, Barksdale Federal Credit Union aimed to make better risk predictions and automate decisions.
