Patriot Federal Credit Union has chosen Scienaptic AI’s platform to enhance its real-time fraud and anomaly detection capabilities, addressing the increasing challenges of identity theft and synthetic identity fraud.nThe implementation will enable Patriot Federal Credit Union to deploy a deeply integrated fraud and loan underwriting engine. This system is designed to aggregate multiple data sources and utilize advanced machine learning and anomaly detection algorithms to generate robust signals for fraud identification. Scienaptic AI reports that early detection of fraud using its platform has resulted in significant savings in fraud losses for its existing clients.nThe nTricia Wareham, Senior Vice President of Consumer Lending at Patriot Federal Credit Union, stated, “Fraud is fast-moving and increasingly complex, especially with synthetic identities becoming harder to spot. We needed a solution that could act in real time without creating unnecessary friction. With FraudShield by Scienaptic AI, we’re proactively identifying threats, reducing false positives, and maintaining the seamless experience our members expect. It’s a critical step in modernizing our fraud defense.”
Eric Steinhoff, EVP, Client Impact at Scienaptic AI, commented, “FraudShield is designed to stop fraud before it starts, without slowing down genuine members. By using real-time AI and behavioral signals, our platform helps credit unions detect anomalies early, reduce operational strain, and confidently approve more members. This partnership with Patriot reflects our shared commitment to secure, inclusive, and data-driven financial services.”
Founded in 2014, Scienaptic AI aims to drive financial inclusion at scale through AI-driven credit decisioning. Their platform integrates extensive data into decision-making processes, leveraging advanced machine learning algorithms supported by rigorous risk and fair lending monitoring. This approach allows financial institutions to serve a broader range of borrowers, including underbanked and underserved individuals, by approving more applications without increasing risk.nIn September 2024, Scienaptic’s Credit Union Service Organization (CUSO) secured strategic equity investments from its clients, reinforcing its objective to advance lending through AI-driven solutions for inclusive loan growth, automation, lifecycle management, and compliance. The CUSO is currently supported by 10 strategic investors. The Scienaptic AI platform assists over 150 lenders, enhancing lending accuracy and efficiency for financial institutions that collectively manage $3.9 trillion in assets. The platform processes over 3 million credit decisions and evaluates more than $3 billion in loan applications monthly, enabling over 1.3 million underserved individuals each month to access credit opportunities. Driven by the rising demand for AI in lending, Scienaptic AI has expanded by over 2,000% in the last three years.