#United States #New York City #loan origination #Algebrik AI #Scienaptic AI

Algebrik AI and Scienaptic AI Join Forces

In a groundbreaking move, Algebrik AI, a Delaware-based company with its headquarters in New York City, has officially partnered with Scienaptic AI, a prominent player in AI-driven lending solutions. This partnership aims to revolutionize the loan origination process by integrating advanced AI functionalities directly into Algebrik's cloud-native Loan Origination System (LOS).

The collaboration is designed to enhance users' commitment to decision-making, allowing for a more inclusive approach in processing loan applications. With Scienaptic AI's capabilities, Algebrik's platform will enable its users to access advanced features such as credit underwriting, fraud prevention, and customer onboarding more seamlessly than ever before.

Enhanced Workflow Integration

One of the standout aspects of this partnership is its focus on creating a cohesive lending workflow that integrates real-time AI insights at every step of the loan process. From pre-qualification to final funding, Scienaptic AI's decisioning algorithms can be invoked at key moments in Algebrik's LOS workflow. This process involves securely passing application data, credit bureau information, and lender inputs to Scienaptic's AI framework, which then provides timely decision-making recommendations back to Algebrik's platform. This meticulous data handling not only facilitates smarter lending decisions but also simplifies the lender's operational burden, maintaining a single system of record.

What Lenders Can Expect from the Partnership

1. Native Touchpoints in LOS: Scienaptic AI's signals can be enabled at various stages of credit decision-making, from pre-screening to fraud checks and application upgrades. This feature ensures lenders have access to dynamic insights tailored to their specific workflows.

2. Results Where Work Happens: The integration allows decision outcomes, recommended steps, and conditions to surface directly in Algebrik's user interface. By streamlining this information flow, lenders can address reviews and resolutions faster and more efficiently.

3. No Extensive IT Buildouts: Algebrik ensures that integrating Scienaptic's services requires minimal technical adjustments, as administrations regarding integration and data mapping can be managed directly within Algebrik's existing console.

4. Flexibility for Credit Unions: Whether a credit union is already aligned with Scienaptic AI or is just starting, Algebrik provides options for existing clients and new adopters alike, including a standard connector for easy setup.

5. Secured Data Flows: The partnership also emphasizes data security with governed API calls that include logging and audit trails to maintain compliance.

Member-Centric Approach

For credit union members, this partnership promises an end-to-end experience that emphasizes quicker decisions and consistent outcomes across all interaction points, whether online, mobile, or in-person. Lending teams will benefit from reduced workflow fragmentation and an expedited cycle time, allowing them to better meet member needs.

The need for modern lending solutions without adding complexity was underlined by Algebrik's CEO, Pankaj Jain: "We're enabling institutions to work more efficiently while enhancing their member experience within the framework they are already familiar with."

Scienaptic AI CEO, Pankaj Kulshreshtha, echoed this sentiment, highlighting the focus on making AI-guided credit decisioning accessible and efficient for all lenders. With the integration of Scienaptic’s technology into Algebrik's LOS, financial institutions can confidently say 'yes' to more members, while responsibly managing their risk and facilitating growth through data-driven intelligence.

About Algebrik AI and Scienaptic AI

Algebrik AI is known for developing Algebrik One, the world's first cloud-native lending suite tailored for the digital era, addressing the changing needs of credit unions. Their technology supports various lending activities—from digital account openings to portfolio analytics.

Founded in 2014, Scienaptic AI aims to enhance financial inclusion through smart and efficient credit decision-making processes. With over 150 lenders under its belt, the platform has facilitated millions of credit decisions every month, furthering its mission to empower lending practices that are more inclusive and accessible.

This strategic partnership signifies a significant leap forward in the financial services landscape, promising a brighter future for credit unions and their members alike. For more detailed information, visit Algebrik AI and Scienaptic AI.