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Pioneer Valley Credit Union is now utilizing artificial intelligence technology from Scienaptic AI to aid the credit union’s lending process.

Scienaptic AI was founded in 2014 in New York City. It says its software integrates more data into decision-making and uses machine learning algorithms to weigh lending choices along with risk and fair lending monitoring processes. The company claims this allows financial institutions to reach more borrowers, such as underbanked and underserved individuals, and allows for more approvals without increasing risk.

“Our vision has always been to pioneer cutting-edge financial products without losing the personal touch our members rely on,” Pioneer Valley President and CEO Anabela Grenier said in a statement provided by Scienaptic AI. “Partnering with Scienaptic AI is a strategic leap forward in that commitment. With their AI-powered platform, we can look beyond traditional credit scoring to gain a deeper, more holistic view of our members’ financial lives. This will empower our team to deliver faster, and more personalized lending decisions, ensuring our members have the secure financial backing they need to thrive.”

The company reported that its lending platform makes over 3 million credit decisions each month and is evaluating loan applications worth more than $4 billion. This enables over 1.7 million underserved individuals every month to “access credit opportunities,” Scienaptic AI claims.

“Pioneer Valley Credit Union has an incredible legacy of empowering the people of Massachusetts for over 100 years,” Scienaptic AI Chief Growth Officer Patrick McElhenie said in a statement. “We’re thrilled to bring our AI decisioning capabilities to such a historic, community-driven institution. Our platform will seamlessly automate their decisioning workflows, helping their team confidently say ‘Yes’ to more members instantly, driving inclusive loan growth and carrying their ‘People Helping People’ mission into the next century.”