SECU To Deploy Scienaptic’s AI-Powered Credit Decisioning Platform

  • Artificial Intelligence
  • 10.05.2022 09:20 pm

Leading global AI-powered credit decision platform provider, Scienaptic AI announced that SECU (State Employees’ Credit Union of Maryland) is planning to implement its AI-powered credit decisioning platform. The deployment, scheduled for later this year, will enhance and augment SECU’s credit decisioning and underwriting capabilities for new and prospective members.

SECU began operations in October 1951 in the hallway of the Miller Building in downtown Baltimore. Its first member was the late Governor Theodore R. McKeldin. In January 1952, SECU made its first loan – for $180. Thanks to the enthusiastic response by state employees, membership and services grew, and SECU was able to open its first official office in Spring 1953. Today, SECU is Maryland’s largest credit union with 25 branches throughout Maryland, Virtual Financial Center and 50,000+ free ATMs. It is a full-service financial institution serving over 250,000 members and managing over $4 billion in assets.

“We lead with our hearts - our vision remains to make a positive contribution to the financial well-being of those we serve,” said Kevin Kesecker, EVP and Chief Administrative Officer at SECU. “In Scienaptic AI we have found a partner whose mission, vision and culture uniquely align with ours. Through the deployment of the Scienaptic AI platform, we will be able to approve more credit at lower loss rates, make faster credit decisions and offer solutions that help our members achieve financial well-being. It will strengthen our member relationships, support their financial needs and enhance their experience."

"We are driven to improve the financial lives of members SECU serves through credit empowerment and personalized decisions,” said Pankaj Jain, Co-founder and President of Scienaptic AI. “In our shared passion to WOW members and exceed their expectations, we feel privileged that our AI will help increase credit access and support SECU members in fulfilling their dreams.”

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