Initial tests indicate 50%+ automation achievable immediately

NEW YORK - March 15, 2023 - PRLog -- Leading global AI-powered credit decision platform provider Scienaptic AI announced today that WyHy Federal Credit Union is now live on its AI-powered underwriting platform. As part of the deployment, Scienaptic's AI platform was integrated with WyHy FCU's Loan Origination System (LOS), MeridianLink Consumer, resulting in streamlined credit underwriting processes, higher loan approval rates, and automated loan decisions for the credit union.

Originally chartered in 1953 to serve the needs of the Wyoming Department of Transportation and other select employee groups, WyHy has grown to the fourth largest credit union in the state with nearly 20,000 members. Now open to all communities throughout Wyoming, WyHy provides top-tier banking and financial services and products with a dedication to member satisfaction and economic responsibility. The deployment of Scienaptic's platform is enabling the credit union to provide improved credit decisions, increasing the availability credit for existing as well as prospective members.

"Our guiding principle at WyHy Federal Credit Union is to always put our members first, as we promise to provide them with the personalized support and services they need to reach their financial goals," said George Selitto, Chief Lending Officer for WyHy FCU. "Going live with Scienaptic's AI-powered credit underwriting platform is a natural extension of that promise. With the platform, we are creating efficiencies, making more consistent lending decisions, reducing turnaround time and increasing loan availability for our members. Scienaptic' technology has opened up a world of possibilities for our members, and we're thrilled with the impact it's having on their financial well-being."

"We're delighted to see how Scienaptic's platform is benefitting WyHy FCU's members," says Pankaj Jain, Cofounder & President of Scienaptic. "WyHy is offering more approvals at a faster rate, all while maintaining its commitment to providing exceptional member experiences. We're proud to be part of this success story, and we're excited to continue supporting WyHy FCU as it grows and innovates in the years to come."

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 (https://www.scienaptic.ai/specialty-lenders), use Scienaptic's AI native credit decisioning platform (https://www.scienaptic.ai/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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