4Front Credit Union Selects Scienaptic’s AI-Powered Platform for Advanced Credit Decision-Making
NEW YORK–(BUSINESS WIRE)–Leading AI-based credit decision platform provider, Scienaptic today announced that 4Front Credit Union chose its AI-powered underwriting platform to strengthen the credit union’s loan portfolio by making advanced lending decisions using artificial intelligence.
4Front Credit Union is a member-owned financial cooperative in Traverse City, serving members throughout Michigan. The credit union has $898 million in assets with a membership base of 94,000+. 4Front aims for the financial well-being of its members and offers exclusive financial products for personal loans, business financing and wealth management. The credit union also aims to provide financial literacy to its members. The rollout of Scienaptic’s AI-powered loan decision platform will expand its reach across the state, giving its members better access to credit by approving more loans, faster.
“At 4Front Credit Union, we believe in simple and smart banking. Therefore, it is imperative that we bring the latest technology to better serve our members at all times,” said Daniel Baker, Senior Vice President of Lending at 4Front Credit. Union.”Sciaptic’s industry-leading underwriting decision platform will allow us to reach more members who have been impacted by the pandemic over the past two years. The technology will help us get to know our members better and automate the process.” loan decision making, allowing us to approve more loans and provide a better member experience.
“We are delighted to have 4Front as a partner. Our motto has always been to transform lives and this partnership will do just that for the people of Michigan,” said Pankaj Jain, President of Scienaptic. “Our advanced technology is designed to empower borrowers to have better access to credit, but also lenders so they can lend with more confidence.”
Scienaptic is on a mission to increase the availability of credit by transforming the technology used in credit decision making. Over 150 years of credit experience is integrated into Scienaptic’s AI-powered native credit decision platform. Our clients from banks, credit unions, fintech and other lenders use the platform to constantly improve the quality of underwriting decisions. This allows 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 more than $22 billion in credit decisions, benefiting more than two million credit union members and million borrowers at banks, car lenders and online. For more information, visit http://www.sciaptic.ai.
About 4Front Credit Union
4Front Credit Union is an award-winning, member-owned financial cooperative that serves more than 94,000 members throughout the State of Michigan. Our members enjoy the same time-saving account management tools as national banks, but with one important difference: our unwavering commitment to creating the same personal connections we’ve sought with our members for 60 years.