League members will get access to risk models tailored to their markets
Credit unions using Zest software are achieving five-fold increases in instant-decisioning rates
Zest AI announced a partnership today with the Minnesota Credit Union Network, Montana’s Credit Unions, and The Wisconsin Credit Union League to bring Zest’s industry-leading AI lending software to their more than 5 million members.
Models built using Zest, chosen as CUNA Strategic Services’ exclusive alliance provider in 2021, use thousands of data points and better math than traditional national models to safely approve more members overlooked by legacy scoring. Credit unions using Zest software are achieving five-fold increases in instant-decisioning rates and 25% to 30% higher approvals with no added risk. Loan approvals are also more inclusive by drawing on deep insights from credit reports and loan histories in the markets served by League members.
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“The opportunity to bring AI-driven lending to credit unions across these three states will have a significant impact,” says Jose Valentin, Vice President of Corporate Development at Zest AI. “Through these partnerships, the lives of millions will be enriched by expanding access to affordable credit.”
“Zest has earned the trust of many institutions like ours, delivering significant value in the form of faster, more consistent, and more inclusive decisions that will help our members achieve their goals,” says John Ferstl, Minnesota Credit Union Network’s Chief Operations Officer. “We are excited to bring this opportunity to Minnesota’s Credit Unions.”
“We’re continually working to ensure our Wisconsin League members have access to the top-quality products and services that expand access and opportunity,” says Brett Thompson, President & CEO of The Wisconsin Credit Union League. “This partnership with Zest AI achieves exactly that.”
Tracie Kenyon, President/CEO, Montana’s Credit Unions, added – “Expanding the pool of resources at our members’ disposal has great benefit here in Montana, and this partnership with Zest is an important addition to our services.”
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