Dakota Credit Union Association Collaborates with Leading AI-Based Credit Decision Platform Provider Scienaptic AI

NEW YORK–(BUSINESS WIRE)–Scienaptic announced today a collaboration with the Dakota Association of Credit Unions (DakCU) enabling the company to offer its AI-powered credit underwriting technology to credit unions in North and South Dakota.

The Dakota Credit Union Association (DakCU) is a professional financial trade association serving 69 credit unions with more than 520,000 members in North and South Dakota, with assets of more than $9.4 billion and provides Dakota consumers currently over $5.7 billion in loans. The goal of this alliance is to extend the accessibility and power of AI to small credit unions in the region. The collaboration will help reach more credit unions regardless of asset size, making AI more accessible in every state.

Current Scienaptic customers in Dakota include Northern Hills Federal Credit Union and Levo Credit Union. Northern Hills Federal Credit Union CEO Floyd Rummel advocates the use of artificial intelligence for credit unions saying, “Using Scienaptic’s adaptive AI will help us provide better lending decisions for every member we serve. This will allow our member-owners to have more credit, improve their lives and strengthen our commitment to the financial well-being of all members. Steven Stofferahn, vice president of loans at Levo Credit Union, also spoke about Levo’s partnership with Scienaptic. “At Levo, our mission is to help improve the lives of our members by putting their financial interests first and providing them with the right products and services when they need them. Scienaptic’s AI-powered credit decision platform is perfectly suited to this mission. Cutting-edge AI will help us improve access to credit for members and improve their financial well-being through smarter, faster credit decisions.

“This alliance represents an opportunity for Dakota Credit Unions to leverage innovation and artificial intelligence in the lending industry. Using Scienaptic’s AI-powered credit underwriting platform will play a key role in helping our credit unions grow their membership, strengthen their charters, and provide excellent member service,” said George McDonald, director of strategic services for the Dakota Credit Union Association.

“We are excited about this collaboration as our platform will allow credit unions in the Dakotas to grow their loan portfolios while minimizing their risk. It will also allow them to reach underserved borrowers and improve the member experience,” said Pankaj Jain, President and Co-Founder of Scienaptic AI.

About Dakota Credit Union Association

The Dakota Credit Union Association (DakCU) is the professional financial association serving 69 credit unions that employ more than 2,200 people in the Dakotas. With nearly 520,000 members in North and South Dakota, credit unions in Dakota have assets exceeding $9.4 billion. In our mission to help credit unions succeed, DakCU plays a key role in growing membership and helping to provide service excellence to members in offices in Bismarck, ND and Sioux Falls, SD. For more information visit our website.

About Scienaptic

Scienaptic is on a mission to increase the availability of credit by transforming the technology used in credit decision making. Over 150 years of credit experience is built into Scienaptic’s native AI-powered credit decision platform. Our clients from banks, credit unions, fintech and other lenders use the platform to constantly improve the quality of underwriting decisions. This allows them to say “yes” to borrowers more often and faster. For more information, visit www.sciaptic.ai.