Indian American firm’s credit decisioning platform wins 2022 BIG Innovation Award

Used by lenders with assets exceeding $100 billion, the platform helps process over $22 billion in credit decisions.

A leading AI-powered credit decisioning platform built by Scienaptic Systems founded by Indian American entrepreneur Pankaj Kulshreshtha has been named a winner in the 2022 BIG Innovation Awards, presented by the Business Intelligence Group.

Kulshreshtha also serves as CEO of New York headquartered Scienaptic. Its platform was designed to address outdated methods of credit decisioning that have failed millions of borrowers, the company said announcing its win Jan 11.

In today’s dynamic environment, lenders need better ways to assess risk, and Scienaptic’s AI-powered credit decisioning platform offers a compelling solution, it said.

With the platform’s next-generation AI, financial institutions can increase credit availability and make better, stronger credit decisions for both borrowers and members.

Scienaptic empowers lenders to continuously improve the quality of their underwriting decisions, enabling them to say “yes” more often, and much faster, the company said.

“Our mission is to enhance lives and fulfill dreams by bringing more people into a world where credit systems work,” said Pankaj Jain, President, Scienaptic.

“Financial institutions of all sizes use Scienaptic’s AI to make instant, better and more personalized credit decisions, resulting in improved financial wellbeing for their customers and members.”

The platform is used by lenders with assets exceeding $100 billion, enabling them to process over $22 billion in credit decisions, benefitting over two million credit union members and millions of borrowers across banks, autos, and online lenders.

“Innovation is driving growth in the global economy,” said Maria Jimenez, chief operating officer of the Business Intelligence Group. “We are thrilled to be honoring Scienaptic as they are one of the organizations leading this charge and helping humanity progress.”

Organizations from across the globe submitted their recent innovations for consideration in the BIG Innovation Awards. Nominations were then judged by a select group of business leaders and executives who volunteer their time and expertise to score submissions.

The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world.

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