Class Act Federal Credit Union To Deploy Scienaptic's AI-Powered Credit Decisioning Platform
NEW YORK – Jan. 12, 2022 – Leading global AI-powered credit decision platform provider, Scienaptic AI announced that Class Act Federal Credit Union has selected its AI-powered platform. The implementation will equip the credit union with enhanced underwriting capabilities to make stronger, faster credit decisions and strengthen financial options for its members. Class Act Federal Credit Union was established by a small group of Jefferson County Public Schools (JCPS) teachers in 1954 to serve the personal finance needs of teachers and other school employees. At that time, teachers had very limited access to loans or credit of any kind. The credit union filled this need and did so at competitive rates. Other area school districts expressed interest, and within a few short years, the credit union was serving all public-school employees in the Metro Louisville area as well as employees from a sizable number of private schools. In 1994, Class Act’s field of membership expanded to include the University of Louisville by way of a merger with the University of Louisville Student & Alumni Credit Union. “Today, although the banking industry has changed dramatically, the credit union’s mission remains virtually the same – to serve the personal finance needs of our local educational community,” said Stephen Green, Vice President of Lending at Class Act Federal Credit Union. “Scienaptic's AI-powered credit decisioning platform will enable us to empower our local educational community. We can say ‘yes’ to many more educators, serve them with smarter loan decisions, and be their first choice for a lifetime of financial service.” “Our partnership with Class Act Federal Credit Union will help us further our mission to foster a better life for all members and empower lenders to make AI-driven loan decisions and open up credit,” said Pankaj Jain, President of Scienaptic. “Not only will our platform broaden their member base, but it will also improve the member experience.” About Scienaptic Scienaptic is on a mission to increase credit availability by transforming technology used in credit decisioning. Over 150 years of credit experience is embedded in Scienaptic's AI native credit decision platform. Our clients across banks, credit unions, fintech, and other lenders use the platform to constantly improve the quality of underwriting decisions. This enables them to say ‘yes’ to borrowers more often and faster. The platform is used by lenders with assets exceeding $100 billion, enabling them to process over $22 billion in credit decisions, benefitting over two million credit union members and millions of borrowers across banks, auto and online lenders. For more information, visit http://www.scienaptic.ai.