American Cycle Finance now leveraging Scienaptic’s AI-powered underwriting tool
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NEW YORK –
Artificial intelligence is playing a role within the subprime market for financing motorcycles, too.
On Monday, Scienaptic, an AI-powered credit decision platform provider, announced the deployment of its solution at American Cycle Finance (ACF).
According to a news release, this implementation will enable ACF to use AI for making sharper credit decisions and assist dealers in selling more units to customers with limited or no credit history.
ACF partners with more than 450 motorcycle retailers across 24 states in the U.S., offering borrowers a unique opportunity to re-establish credit and a second chance to finance a motorcycle.
“We are very excited to deploy Scienaptic’s AI-powered credit decisioning platform,” American Cycle Finance president Ben Donnarumma said in the news release.
“Through Scienaptic’s adaptive AI, credit access for motorcycle buyers is further enhanced. Many more customers (up to 1.5-2 times) who have experienced credit turn-downs or declines in the past will be able to get approval, regardless of FICO score,” Donnarumma continued.
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Scienaptic president Pankaj Jain added, “We are very pleased to help ACF increase credit approvals while reducing delinquencies. Early results are very promising, and we hope to build on it as we test and learn on Scienaptic’s AI-powered credit decisioning platform.”
