Scienaptic AI, a leader in AI-powered credit decisioning, has partnered with CommunityWide Federal Credit Union to deploy its FraudShield platform, strengthening real-time fraud and anomaly detection. This collaboration addresses the growing challenges of identity theft and synthetic identity fraud, ensuring secure and efficient lending for the credit union’s 71,000 members.
CommunityWide Federal Credit Union, based in South Bend, Indiana, has selected Scienaptic AI’s FraudShield to address the rising threat of identity theft and synthetic identity fraud. “With fraud evolving rapidly, especially in identity and synthetic attacks, we needed a solution that could act in real time without compromising member experience,” said Andy Burggraf, President/CEO of CommunityWide Federal Credit Union. The platform’s advanced machine learning and anomaly detection algorithms enable early fraud detection, yielding significant savings in fraud losses.
FraudShield integrates multiple data sources to create a robust fraud detection engine. By leveraging cutting-edge machine learning, it identifies anomalies in real time, allowing CommunityWide to approve genuine members confidently while blocking fraudulent applications. “We’re proud to enable CommunityWide Federal Credit Union to strengthen fraud resilience without slowing down the member experience,” said Eric Steinhoff, EVP, Client Impact at Scienaptic AI. This approach minimizes friction and supports inclusive lending practices.
The partnership aligns with CommunityWide’s mission, established in 1967, to provide financial services to residents of modest means. With over 71,000 members, the credit union prioritizes secure and efficient lending. FraudShield’s real-time detection capabilities ensure that fraudulent activities, such as synthetic identity fraud, are intercepted early, protecting both the institution and its members. This is critical, as recent studies indicate that synthetic identity fraud has compromised 1.8 million consumer credit accounts, with over 30% at risk of major delinquency.
CommunityWide’s adoption of Scienaptic AI’s FraudShield marks a significant step in combating financial fraud while enhancing member experience. By integrating advanced AI-driven fraud detection, the credit union strengthens its ability to deliver secure, inclusive financial services, aligning with its long-standing commitment to member well-being and financial success.
Founded in 2014, Scienaptic AI was built with the mission to drive financial inclusion at scale through AI-driven credit decisioning. The platform encapsulates a decade of technological innovation, integrating more data into decision-making, leveraging advanced machine learning algorithms, and supplementing them with rigorous risk and fair lending monitoring processes. This enables financial institutions to reach more borrowers—including underbanked and underserved individuals—and say “yes” more often without increasing risk.
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