Empowering Lenders: Scienaptic AI Integrates with Loan Director from Fiserv to Redefine Credit Decisioning

Loan Director clients can now seamlessly access Scienaptic’s AI-powered underwriting

NEW YORK--(BUSINESS WIRE)--Scienaptic AI, a leading global AI-powered credit underwriting platform provider, announced its integration with Loan Director from Fiserv, (NYSE: FI), a leading global provider of payments and financial technology solutions. With this integration, users of Loan Director, a full-function consumer and business loan origination system, can seamlessly access Scienaptic’s advanced AI-powered signals for underwriting.

Loan Director is an open-architecture loan origination system that allows financial institutions to serve borrowers who increasingly expect on-demand, real-time digital services. The partnership will increase the adoption of AI for lending and give more members access to fair, inclusive credit.

Scienaptic recently successfully deployed its AI credit decisioning platform at SECU, Maryland’s largest credit union. As part of the deployment, Scienaptic’s AI platform has been seamlessly integrated with SECU’s Loan Origination System (LOS), Loan Director.

Kevin Kesecker, EVP and Chief Administrative Officer of SECU said, “Our vision remains to drive greater financial inclusion and provide a better experience for the community we serve. Scienaptic’s AI underwriting platform, in combination with Loan Director, is helping us actualize this vision. It enables us to approve more applicants at the margins, support financial inclusiveness, allows underwriters to spend more of their time on personalizing offers, improves our portfolio risk profile, and automates our loan decisioning process, leading to a significant reduction in application turnaround times.”

“AI is transforming the lending landscape, and our collaboration with Scienaptic enables our clients to integrate AI seamlessly into their lending processes, promoting intelligent, automated decision-making. Beyond improving efficiency, AI will assist our clients in enhancing customer experience, increasing approval rates, and broadening the scope of credit accessibility,” said Jeffrey Vander Linden, vice president of Digital Deposit and Lending at Fiserv.

Pankaj Jain, Co-Founder & President of Scienaptic AI, said, “Our partnership with Fiserv removes the integration hurdles that have prevented lenders from implementing AI. This partnership will increase the adoption of AI and allow more consumers to access credit. By working together, we will be able to drive faster and smarter loan signals for financial institutions and empower them to say "yes" more often to their members and customers."

About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.

About Scienaptic

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 http://www.scienaptic.ai.