The Challenge
AUTOMATING LOAN UNDERWRITING AND ENHANCING MEMBER EXPERIENCE
InRoads Credit Union (InRoads CU) serves members across Oregon, providing innovative financial solutions to make their lives easier.
Before partnering with MeridianLink, InRoads CU faced significant challenges in its loan origination system (LOS). The credit union lacked an online application and relied on a phone company to take applications after hours, which was inefficient and cumbersome. InRoads CU needed a solution that would streamline its processes, automate loan underwriting, and provide a seamless digital experience for both members and staff.
The Solution
MeridianLink Consumer
MeridianLink Marketplace
InRoads CU selected MeridianLink® Consumer and tapped into MeridianLink Marketplace to integrate the loan origination experience with Scienaptic’s AI-powered platform. With a comprehensive LOS from MeridianLink and pre-integrated AI decisioning from Scienaptic, the credit union was ready to process applications with greater speed and accuracy.
The Results
INCREASED AUTOMATION, APPROVALS, AND SATISFACTION
InRoads CU harnessed the power of MeridianLink Consumer and Scienaptic’s AI platform to boost operational efficiency, speed up application handling, and improve member convenience, all while promoting financial inclusivity.
The new system automated loan underwriting and increased credit approvals, allowing the credit union to process a higher volume of applications with minimal manual effort. This automation not only streamlined workflows but also freed up staff time, enabling them to concentrate on complex tasks and more meaningful member interactions.
Members also experienced a faster application process, with many receiving instant decisions thanks to the AI-powered underwriting. This increased speed and convenience strengthened member trust and satisfaction. Scienaptic’s enhanced risk assessment capabilities enabled the credit union to make fair and informed decisions, increasing its ability to build relationships with underserved members. This comprehensive approach not only improved regulatory compliance but also supported the credit union’s mission of financial inclusivity.