Finger Lakes Federal Credit Union Partners with Scienaptic AI to Enhance Credit Access with AI-Powered Underwriting
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NEW YORK - Nyenta -- Scienaptic AI, a global leader in AI-powered credit underwriting, today announced that Finger Lakes Federal Credit Union, based in Geneva, New York, has chosen its platform to enhance credit access for its members. The credit union is adopting Scienaptic AI-powered, regulatory-compliant technology to support its goals of making faster, smarter lending decisions, streamlining credit processes, and extending lending opportunities to underserved members.

Founded in 1967 as the Geneva School Employees Credit Union, Finger Lakes Federal Credit Union has a rich history of serving its community. From a single desk in a school basement to a multi-county institution with over 20,000 members, Finger Lakes FCU has continuously grown by prioritizing its members' financial well-being. With a commitment to technology and trustworthy service, the credit union exists to provide its members with the tools to achieve their own financial goals.

"Our mission is and always has been to serve our members with heart," said Bob McFadden, President and CEO of Finger Lakes FCU. "Our partnership with Scienaptic is a key part of that commitment. For us, this isn't just about a new technology; it's about seeing beyond the numbers. The platform will enable us to analyze complex data patterns that traditional underwriting methods often overlook, providing a more comprehensive picture of our members. We're excited to use this powerful tool to unlock new possibilities for our community and honor the trust our members have placed in us."

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"Finger Lakes Federal Credit Union's legacy of putting members first aligns perfectly with Scienaptic's mission to democratize credit access," stated Patrick McElhenie, Chief Growth Officer at Scienaptic AI. "Our AI platform will empower their team to reduce loan processing times and increase approval rates through a more comprehensive risk assessment. By leveraging AI to identify creditworthy applicants, Finger Lakes FCU can continue its legacy of expanding financial inclusion across New York."

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 15 strategic investors, underscoring Scienaptic's deep commitment to the core principle of "people helping people."

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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.