NEW YORK– Scienaptic AI, a CUSO that provides AI-powered credit decisions, said three of its clients credit unions have now joined as investors.
The three credit unions are the $1.2-billion Patriot Federal Credit Union in Chambersburg, Penn.; the $162.6-million Wolverine State Credit Union in Alpena, Mich.; and the $712.6-million Meridian Trust Federal Credit Union in Cheyenne, Wyo.
In addition, the company said the $2.5-billion Credit Union of Colorado in Denver, one of the original founding partners, has doubled its investment.
13 Partners
Scienaptic AI said the additions bring the total number of credit union partners in the CUSO to 13, includes ELGA Credit Union, Wildfire Credit Union, 4Front Credit Union, CoVantage Credit Union, People Driven Credit Union, Alliance Catholic Credit Union, Partner Colorado Credit Union, Advantage One Credit Union, the Michigan Credit Union League, in addition to the newest investors.
According to Scienaptic AI, credit unions are expanding their use of its platform beyond underwriting and applying AI across the entire member lifecycle, from pre qual and onboarding to fraud detection, underwriting, perpetual offers, and early warning. From loan origination to ongoing engagement, they are embedding AI into the core of how they serve members.
‘Shared Vision’
“These investments validate both our shared vision of financial empowerment through AI and the impact it is already having on lending,” Founder and CEO Pankaj Kulshreshtha said in a statement. “I look forward to working with the credit union leaders to scale AI adoption and to being part of the important work they are doing in their respective communities.”
