Scienaptic AI, a global leader in AI-powered credit underwriting, today announced that Strata Credit Union, based in California, has chosen its platform to enhance credit access for its member community. By adopting Scienaptic’s AI-powered, regulatory-compliant technology, Strata Credit Union aims to make faster, smarter credit decisions, streamline processes, and extend lending to underserved members.
Founded in 1949 by a small group of Kern County employees, Strata Credit Union was built on the belief that financial services should be accessible and supportive of everyone’s needs. Starting with loans made in the board chairman’s kitchen, the credit union has grown to serve anyone who lives, works, or attends school or church in Kern County. With an asset size of $330 million, Strata Credit Union operates multiple branches in Bakersfield and Wasco and provides its 22,000-strong member community with convenient, 24/7 access to digital banking services. Strata’s commitment to improving the financial well-being of its members remains at the heart of its mission.
“Our mission has always been to serve our members and help them achieve their financial goals,” said Brandon Ivie, CEO of Strata Credit Union. “Deploying Scienaptic’s AI platform will allow us to take this commitment even further by leveraging advanced technology to streamline our processes and make smarter, faster credit decisions. This platform will empower us to lend more confidently, including to members with thin or no credit files, ensuring that our underserved members have better access to credit. With enhanced automation, efficiency, and personalized lending, we will streamline operations, expand credit access, and support our members’ financial journeys. We are excited about what this means for the future of our community.”
Eric Steinhoff, EVP, Client Impact, Scienaptic AI, expressed, “We are excited to partner with Strata Credit Union in their mission to empower their members. Our AI-powered platform will equip Strata with cutting-edge tools to automate workflows, make data-driven credit decisions, and deliver personalized lending experiences. By embracing this technology, the credit union will be able to make faster and more inclusive loan decisions for their member community. We are excited to support their journey toward a more innovative and member-focused future.”
This deployment exemplifies Strata Credit Union’s dedication to embracing innovation while remaining deeply rooted in its mission to improve lives through financial empowerment. With Scienaptic’s platform, Strata continues to be well-positioned to expand credit access and elevate the financial well-being of its members.
About Scienaptic AI
Founded in 2014, Scienaptic AI was built with a mission to drive financial inclusion at scale through AI-driven credit decisioning. The platform encapsulates a decade of technological innovations, integrating more data into decision-making processes, utilizing 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 Sep 2024, its Credit Union Service Organization (CUSO) received strategic equity investments from six of its credit union clients. It underscores Scienaptic’s unwavering commitment to the credit union community and its guiding principle of "people helping people."
Today, over 150 lenders rely on Scienaptic’s platform to enhance the accuracy and efficiency of their underwriting decisions. Scienaptic-enabled lenders have processed over $80 billion in credit decisions and 400 million transactions, expanding credit access for millions of underserved individuals.
For more information, visit www.scienaptic.ai.