Zest AI Announces Strategic Partnership with Credit Union Leagues of Minnesota, Montana and Wisconsin
League members will have access to risk models tailored to their markets
Credit Unions Using Zest Software Increase Instant Decision-Making Rates Fivefold
ST. PAUL, Minnesota. and LOS ANGELES, March 24, 2022 /PRNewswire/ — Zest AI today announced a partnership with the Minnesota Credit Union Network, from montana Credit Unions and the Wisconsin Credit Union League to bring Zest’s artificial intelligence-powered 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 notation. Credit unions using Zest software see five times faster instant decision rates and 25%-30% higher approvals with no added risk. Loan approvals are also more inclusive by relying on in-depth information from credit reports and loan histories in the markets served by League members.
“The opportunity to bring AI-powered loans to credit unions in these three states will have a significant impact,” says Jose Valentine, Vice President of Corporate Development at Zest AI. “Through these partnerships, the lives of millions of people 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, chief operating officer of the Minnesota Credit Union Network. “We are delighted to offer this opportunity to from minnesota Credit unions.”
“We are continually working to ensure our Wisconsin League members have access to top-quality products and services that expand access and opportunity,” said Brett Thompson, president and CEO of the Wisconsin Credit Union League. “This partnership with Zest AI achieves exactly that.”
Tracie KenyonPresident and CEO, from montana Credit Unions, added – “Expanding the pool of resources available to our members has great benefits here in Montanaand this partnership with Zest is an important addition to our services.”
About Zest AI
Zest AI software helps lenders make better decisions and better loans, which increases revenue, reduces risk and automates compliance. Since 2009, it has made fair and transparent credit available to everyone and is today the leader in more inclusive underwriting software. The company is headquartered in Los Angeles, California. Learn more about www.zest.ai and join us on Twitter at @Zest_AI or Zest AI Knowledge Blog.
About the Minnesota Credit Union Network
The Minnesota Credit Union Network is the statewide business association working to ensure the success, growth and vitality of Minnesota credit unions. With nearly $35 billion in assets, Minnesota Credit Unions are trusted local financial cooperatives that serve 2 million members in nearly 400 branches across the state.
On from montana credit unions
Situated at Helen, Montana, from montana Credit unions exist to promote and enhance a thriving credit union community. Its various entities support this mission. Montana currently has 46 credit unions, with 124 branches in communities across the state. These credit unions currently serve more than 412,639 Montanese – who are members and owners.
About the Wisconsin Credit Union League
Founded in 1934, the Wisconsin Credit Union League is the dues-supported trade association for from Wisconsin credit unions–not-for-profit financial institutions owned cooperatively by their more than 3.5 million members. The League is dedicated to serving from Wisconsin credit unions and promoting the credit union difference through advocacy, education and public service.
About CUNA Strategic Services
CUNA Strategic Services develops strategic alliance relationships to provide credit unions with innovative solutions that will drive membership growth and operational excellence at an attractive price. The company is majority owned by the Credit Union National Association and the state leagues. For more information, visit www.cunastrategicservices.com.
Contact: [email protected]
SOURCE Zest AI