Aimed at transforming how the institution prices vehicle loans for its members, Credit Union of Colorado recently selected LendSmart Auto, a new artificial intelligence-powered auto loan pricing engine offered by Scienaptic AI.

The platform from the provider of AI-powered credit decisioning can enable Credit Union of Colorado to evolve beyond traditional rate-sheet pricing, which assigns the same rate to all loans within a risk tier.

Now Credit Union of Colorado can move toward a deal-level model that prices each loan based on the individual borrower, vehicle collateral, and real-time market conditions.

“In a competitive auto market, the rate we quote is often the entire conversation,” said Chad Wilcox, senior vice president of lending at Credit Union of Colorado. “A tier-based rate sheet cannot tell the difference between two borrowers who look alike on paper but are buying very different vehicles.

“LendSmart Auto lets us price each deal on what is actually in front of us, so we can reward strong applications with sharper rates and hold the line where the risk warrants it. That is better value for our members and a healthier portfolio for the credit union,” Wilcox continued in a news release.

LendSmart Auto integrates vehicle data at the VIN level, enabling granular analysis of depreciation curves, regional resale demand, auction recovery projections, and loan-to-value exposure for every deal.

The engine also incorporates Credit Union of Colorado’s own target return on assets, factoring in deal and operations costs, to ensure that optimized pricing stays within the credit union’s established financial parameters.

“Credit Union of Colorado has spent more than 90 years earning the trust of members across the state,” Scienaptic AI chief customer officer Courtney Mrsny said. “LendSmart Auto brings deal-level intelligence to every vehicle loan, going beyond broad tier assumptions to a clear view of the individual borrower and the specific collateral.

“We are proud to partner with them and look forward to showing what that precision can do for their portfolio,” Mrsny added.

For more information, visit www.scienaptic.ai.