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Zest AI Expands Into the Credit Union Market for AI Underwriting
By the end of the year, Zest software will be enabling underwriting for a total of 10 million members throughout its client base, making Zest the trusted alternative for the CU community.
FREMONT, CA: Insurers engaging in AI to enhance and streamline their underwriting operations will gain a lasting competitive advantage due to its critical significance in the insurance value chain.
Zest AI, a pioneer in AI-powered underwriting software, launched several steps today that demonstrate its commitment to the credit union market. Zest was registered as a Credit Union Service Organization (CUSO), got an equity investment from the Curql Fund, one of the largest venture funds for the credit union business, and welcomed many other top credit unions to the Zest family of clients.
"We're convinced the future of underwriting will be based on machine learning," said Bob Birr, VP, Chief Lending Officer at Credit Union West in Glendale, Arizona. "We looked at a range of ML options, and Zest AI provided the biggest impact in terms of higher funded loan approvals and reduced risk across cards, auto loans, and personal loans. Partners like Zest can help us improve the member and employee lending experience and fulfill our vision of being our members' trusted financial services provider for life."
"Credit unions are our fastest growing customer segment, and I'll tell you why: Credit unions want to enrich their communities by saying 'yes' to more of their members. AI-driven lending helps them do that faster and with more confidence. Credit unions that use Zest software are going to have a major advantage over banks and fintechs," says Zest AI CEO Mike de Vere.
By establishing the Zest team as one of the trusted partners and participants in the CU community, achieving CUSO certification makes it even easier for credit unions and other CUSOs to engage with Zest. In the last few weeks, Zest has welcomed GreenState Credit Union, Credit Union West, HawaiiUSA Federal Credit Union, and IH Credit Union to the family of CUs using Zest software to make smarter decisions. By the end of the year, Zest software will be enabling underwriting for a total of 10 million members throughout its client base, making Zest the trusted alternative for the CU community.