Southwest Louisiana Credit Union Live With Scienaptic's Fair & Compliant AI-driven Credit Underwriting Platform

NEW YORK - Sept. 16, 2024 - PRLog -- Leading global AI-powered credit underwriting platform provider Scienaptic AI, announced today that Southwest Louisiana Credit Union has implemented its AI-based underwriting platform and is now live. This deployment is significantly streamlining the credit union's underwriting process, leading to an increase in approval rates and a notable enhancement in the member experience. Importantly, all these advancements have been achieved while ensuring fairness, inclusivity, and compliance with regulatory standards, which are integral to Scienaptic's AI platform.

Southwest Louisiana Credit Union, formerly known as PPG Employees Credit Union, was established in 1952 as a response to banking bureaucracy. The cornerstone of its philosophy lies in helping people and providing financial empowerment for all, and through its diverse programs, Southwest Louisiana Credit Union helps community members achieve their financial goals. Headquartered in Lake Charles, La., the credit union serves more than 18,000 members and works relentlessly to eradicate poverty in Southwest Louisiana, providing a host of financial services like advanced loans at lower interest rates, $mart Rewards Checking, savings accounts and insurance.

"We've always believed in making it personal at Southwest Louisiana Credit Union, and going live with Scienaptic's platform is a significant step in enhancing that commitment," said Chad Miller, CEO, Southwest Louisiana Credit Union. "With this advanced technology, we are offering more personalized financial solutions to our members, ensuring their goals remain at the forefront of everything we do. This platform is also making our underwriting process efficient and hassle-free empowering us to make regulatory compliant loan decisions within seconds, increase credit access to our underserved members and create a memorable credit experience for our community. For over 70 years, our priority has been our members' financial success, and Scienaptic's AI platform is strengthening our ability to deliver on that promise."

Eric Steinhoff, EVP Client Impact, Scienaptic AI expressed his enthusiasm about Southwest Louisiana Credit Union's successful deployment of their AI platform. He said, "Witnessing Southwest Louisiana Credit Union revolutionize their loan decision process and enhance the credit experience through our AI platform is truly exciting. Our deployment has introduced new levels of underwriting efficiency and member satisfaction at the Credit Union enabling them to make a more profound impact on their community."

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 400 million transactions, benefiting millions of borrowers. For more information, visit http://www.scienaptic.ai