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Sidney Federal Credit Union Takes a Leap into the Future of Lending with Scienaptic's AI-Powered Credit Underwriting Platform

By: PRLog

NEW YORK - Feb. 6, 2024 - PRLog -- Leading global AI-powered automated credit underwriting platform provider, Scienaptic AI, announced today that Sidney Federal Credit Union has chosen to implement its AI-powered credit decisioning platform. The credit union aims to streamline its credit underwriting process by utilizing Scienaptic's fair, inclusive, and regulatory-compliant AI platform.

Sidney Federal Credit Union's story began in 1949 when a small group of Scintilla Magneto Corporation employees met in the union lodge in Sidney, New York and paid $25 each to fund the application fee to secure a charter. Today the credit union has over $900MM in assets serving 70,000 members across 11 branches. Upholding the philosophy of people helping people, the credit union is on a mission to improve the financial well-being of its members by providing products and services that exceed their expectations while making banking easier.

"At Sidney Federal Credit Union, we are committed to meeting the ever-evolving needs of our members and also aspire to strike the perfect chord between the convenience of technology and the warmth of a personalized experience," said Nicole Krom, Senior VP of Lending at Sidney Federal Credit Union. "Scienaptic's AI-powered credit underwriting platform aligns seamlessly with our commitment to enhance inclusivity, efficiency, and financial well-being. It will propel us to not only approve more loans but to extend credit assistance far and wide, reaching a diverse spectrum of individuals. Together, we're building a future where financial empowerment knows no bounds."

"We are overjoyed to announce our partnership with Sidney Federal Credit Union. Through our AI-powered credit underwriting platform, we aim to unleash countless dreams by providing enhanced access to credit," said Pankaj Jain, Cofounder and President of Scienaptic AI. "Our AI-powered credit underwriting platform will empower the Credit Union to make regulatory-compliant and personalized credit decisions, approving more loans and minimizing risk. Together, we're not just transforming lending; we're unlocking the potential for a multitude of aspirations and financial successes."

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

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Chandan Pal

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Scienaptic Logo Nicole Krom, SVP of Lending at Sidney Federal CU

Source: Scienaptic AI

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