Nyenta.com - Strata Credit Union Selects Scienaptic AI to Strengthen Fraud and Anomaly Detection

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Brandon Ivie, CEO of Strata Credit Union

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

With the help of the Scienaptic AI platform, Strata Credit Union aims to deploy a deeply integrated fraud and loan 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.

"Fraud today is more adaptive and complex than ever, often outpacing the capabilities of legacy systems," said Brandon Ivie, CEO of Strata Credit Union. "We needed a solution that could respond in real time without disrupting the member experience. With FraudShield by Scienaptic, we're intercepting threats earlier, reducing false positives, and strengthening member confidence. It's a significant step forward in safeguarding our members' financial well-being."

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"Our mission is to prevent fraud at the source without slowing down genuine members," said Eric Steinhoff, EVP, Client Impact at Scienaptic AI. "Leveraging AI and transaction patterns, our system enables financial institutions to spot irregularities quickly, streamline operations, and approve more members with certainty. This collaboration with Strata Credit Union demonstrates our mutual dedication to secure, inclusive, and data-driven financial services."

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.

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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."

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 1.7 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.