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Scienaptic AI and MagiLoop Power Up BHPH Lending: 7 Multi-Rooftop Dealers Leverage AI-Powered Decisions

By: PRLog

The Scienaptic-MagiLoop Partnership is Making Car Ownership Accessible for All

NEW YORK - April 29, 2024 - PRLog -- Scienaptic AI, the world's leading AI-powered credit underwriting platform provider, today announced that six Multi Rooftop Dealers on the Magiloop platform are now live with its AI technology. This collaboration empowers these Buy Here Pay Here (BHPH) dealerships to expand their lending portfolios and offer better, faster car financing options to their customers.

Some of the AI adopters on Magiloop are MCMC Auto (Ft. Worth, TX), Fiesta Motors (Lubbock, TX), Sports & Imports (Gainesville, GA), Rainey Used Cars (Albany GA), Brenners Car Credit (Mechanisburg, PA), Miracle Motors (Reading, PA) Drive Fast USA (Lee's Summit, MO). More Multi Rooftop Dealers on Magiloop are set to join in the coming weeks.

MagiLoop is an innovative digital and paperless ecosystem designed by BHPH dealers for BHPH dealers. It streamlines the entire car buying experience, from lead generation and application processing to underwriting, approval, reviews, marketing analysis, and customer account management. Scienaptic's AI seamlessly integrates with the Magiloop ecosystem, providing dealers with enhanced credit risk insights for every loan application. These insights empower faster, more data-driven decisions, enabling dealers to approve more loans while managing risk effectively.

Nathan Anderson at Drive fast USA adds, "At Drive Fast USA, we're committed to financial inclusion through innovative technology. MagiLoop & Scienaptic's integrated AI platform allows us to automate loan assessments, promote fair lending practices, and expand access to financing for underserved customers. This ensures responsible, personalized loan options that empower our customers to achieve their car ownership goals."

Brian Carduff, Co-Founder at MagiLoop, says, "At MagiLoop, we prioritize both speed and financial inclusion. Our partnership with Scienaptic is empowering our dealers with automated, data-driven credit assessments, ensuring fair lending practices and expanding financing opportunities for a wider range of customers. This is allowing us to offer responsible vehicle financing solutions that empower everyone to achieve their car ownership goals."

Pankaj Jain, President of Scienaptic AI, added, "This partnership is about opening doors – giving individuals a chance to drive home their dreams, even if they've faced roadblocks in the past. With Magiloop and Scienaptic working together, responsible ownership isn't a privilege, it's a possibility for everyone. That's what truly excites me."

About Scienaptic AI

Scienaptic AI's mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.

The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say "yes" more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions.

Scienaptic-enabled lenders have processed more than 300 million transactions, benefitting millions of borrowers. For more information, visit

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Chandan Pal

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Scienaptic Logo Scienaptic AI and MagiLoop Power Up BHPH Lending

Source: Scienaptic AI

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