Leading global AI-powered automated credit underwriting platform provider, Scienaptic AI, announced today that Sidney Federal Credit Union has chosen to implement its AI-powered credit decisioning platform. The credit union aims to streamline its credit underwriting process by utilizing Scienaptic's fair, inclusive, and regulatory-compliant AI platform.
Sidney Federal Credit Union’s story began in 1949 when a small group of Scintilla Magneto Corporation employees met in the union lodge in Sidney, New York and paid $25 each to fund the application fee to secure a charter. Today the credit union has over $900MM in assets serving 70,000 members across 11 branches. Upholding the philosophy of people helping people, the credit union is on a mission to improve the financial well-being of its members by providing products and services that exceed their expectations while making banking easier.
"At Sidney Federal Credit Union, we are committed to meeting the ever-evolving needs of our members and also aspire to strike the perfect chord between the convenience of technology and the warmth of a personalized experience,” said Nicole Krom, Senior VP of Lending at Sidney Federal Credit Union. "Scienaptic's AI-powered credit underwriting platform aligns seamlessly with our commitment to enhance inclusivity, efficiency, and financial well-being. It will propel us to not only approve more loans but to extend credit assistance far and wide, reaching a diverse spectrum of individuals. Together, we're building a future where financial empowerment knows no bounds."
"We are overjoyed to announce our partnership with Sidney Federal Credit Union. Through our AI-powered credit underwriting platform, we aim to unleash countless dreams by providing enhanced access to credit,” said Pankaj Jain, Cofounder and President of Scienaptic AI. “Our AI-powered credit underwriting platform will empower the Credit Union to make regulatory-compliant and personalized credit decisions, approving more loans and minimizing risk. Together, we're not just transforming lending; we're unlocking the potential for a multitude of aspirations and financial successes."