CommunityWide Federal Credit Union Taps Scienaptic AI for Smarter Fraud and Anomaly Detection

NEW YORK--(BUSINESS WIRE)--Scienaptic AI, a leading provider of AI-powered credit decisioning, announced today that CommunityWide Federal Credit Union has selected its platform to enhance real-time fraud and anomaly detection to tackle the challenges of identity theft and synthetic identity fraud.

With the help of Scienaptic AI platform, CommunityWide Federal Credit Union aims to deploy a deeply integrated fraud and underwriting engine. This integrated engine aggregates multiple data sources and deploys cutting-edge machine learning and anomaly detection algorithms to create a powerful signal to detect fraud. Early detection of fraud is already yielding significant savings in fraud losses for Scienaptic clients.

“With fraud evolving rapidly, especially in identity and synthetic attacks, we needed a solution that could act in real time without compromising member experience,” said Andy Burggraf, President/ CEO of CommunityWide Federal Credit Union. “By leveraging FraudShield by Scienaptic AI, we can approve genuine members with confidence, while proactively identifying fraud before it enters our system. It’s a powerful step forward in delivering both security and service.”

“We’re proud to enable CommunityWide Federal Credit Union to strengthen fraud resilience without slowing down the member experience,” said Eric Steinhoff, EVP, Client Impact at Scienaptic AI. “With FraudShield, credit unions are able to detect anomalies in real-time, reduce friction, and approve more members confidently. This collaboration reflects our shared commitment to safe, inclusive, and efficient lending.”

About Scienaptic AI

Founded in 2014, Scienaptic AI was built with the mission to drive financial inclusion at scale through AI-driven credit decisioning. The platform encapsulates a decade of technological innovation, integrating more data into decision-making, leveraging advanced machine learning algorithms, and supplementing them with rigorous risk and fair lending monitoring processes. This enables financial institutions to reach more borrowers—including underbanked and underserved individuals—and say “yes” more often without increasing risk.

In September 2024, Scienaptic’s Credit Union Service Organization (CUSO) received strategic equity investments from its clients, further strengthening its mission to elevate lending with AI-driven solutions for inclusive loan growth, automation, lifecycle management, and compliance. Today, the CUSO is backed by 10 strategic investors, underscoring Scienaptic’s deep commitment to the core principle of "people helping people."

The Scienaptic AI platform plays a vital role in supporting over 150 lenders by enhancing lending accuracy and efficiency. Scienaptic’s credit decisioning expertise spans financial institutions collectively managing $3.9 trillion in assets. The platform processes over 3 million credit decisions each month, evaluating loan applications worth more than $3 billion. This enables over 1.3 million underserved individuals every month to access credit opportunities that were previously out of reach. Driven by the growing demand for AI in lending, the company has expanded by over 2,000% in the past three years.

For more information, visit www.scienaptic.ai.