FTL Finance goes live with Scienaptic's AI-powered credit decisioning platform

Tuesday 29 June 2021 09:27 CET | News

US-based AI-powered credit decisioning disruptor, Scienaptic has announced that home improvement lender, FTL Finance has completed implementation and is now live on its platform.

The implementation will enable the company to make credit decisioning for its borrowers through transformative technology powered by AI to support both contractors’ and homeowners’ financing needs for repairs and remodelling.  

FTL Finance helps makes home improvement financing hassle-free, providing contractors the tools to grow their businesses while giving homeowners the resources they need to complete remodels and repairs, as the press release says.

By implementing the Scienaptic platform, FTL expects to see a 10% reduction in losses at the same approval rates. It also augments FTL's ability to pre-approve their lowest risk customers for larger loans than originally requested (up to 2 times in many cases).

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Keywords: partnership, credit scoring, SME lending, supply chain finance
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: United States
This article is part of category

Banking & Fintech

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