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Partnership Between Scienaptic and 700Credit To Combine AI With Credit Data for Automotive Industry

It is reported that the AI-powered credit decision platform provider Scienaptic is to partner with 700Credit, the credit data provider for the automotive industry. This alliance will enable Scienaptic to utilise 700Credit’s credit and compliance reports to enhance decisioning for its auto lending clients.

700Credit is one of the most prominent providers of credit reports, compliance, and soft pull products to Automotive, RV, Powersports, and Marine dealerships within the U.S.

700Credit’s offerings include credit reports, pre-screen and pre-qualification platforms, OFAC compliance, Red Flag solutions, MLA, synthetic fraud detection, identity verification, score disclosure notices, and adverse action notices.

“Using rich data, auto lenders are empowered to make more informed decisions while safely extending credit to new applicants,” comments Ken Hill, Managing Director of 700Credit. “Scienaptic’s AI-driven credit underwriting platform, paired with our data, will allow auto lenders to approve more customers with confidence, mitigate risk, and deliver faster credit decisions. We are pleased to partner with Scienaptic to help auto lenders make better loan decisions for their customers.”

Pankaj Jain, President, Scienaptic
Pankaj Jain, President, Scienaptic

“Integration of AI with rich data is radically changing credit underwriting,” adds Pankaj Jain, President of Scienaptic. “Through this partnership, Scienaptic and 700Credit will combine resources and expertise to focus on delivering a ‘best-in-class’ credit decisioning solution for auto lenders.”

Author

  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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