Zest AI to fuel consumer loan underwriting at Blue Federal Credit Union

LOS ANGELES, December 1, 2021 / PRNewswire / – Zest AI, the leader in AI-based lending software, today announced that Blue Federal Credit Union has selected Zest to help them make faster, more accurate loan decisions for clients. auto loans, credit cards and personal loans from the credit union. wallets.

Zest AI software enables credit unions and banks to overcome the limitations of old scoring methods and securely approve more borrowers by leveraging more data and better calculations. The credit underwriting models built by Zest use 10 times more variables to create a much more accurate view of the borrower’s risk.

“Zest will be a big win for our members. Zest has really built their program to meet the needs of lenders and regulators, and this will help Blue grow in new ways,” said Jason buchanan, director of credit and risk at Blue Federal Credit Union. “Zest will also enable Blue to reach underserved borrowers across the entire credit spectrum while maintaining our compliance and credit risk management standards. The granularity that we have access to through Zest is broad and provides all the functionality and detail we need to explain our credit decisions. “

When the models built by Zest go live in early 2022, Blue expects to achieve a 30% increase in approval rates in its portfolios and accelerate loan decisions to less than five seconds, delivering value immediate service to its members in terms of convenience and better service.

“We are thrilled to help Jason and the team at Blue join the forefront of credit union innovators,” said Mike de Vere, CEO of Zest AI. “A template designed by Zest gives them transparency, control and a faster, more accurate decision that approves more members. Blue’s investment in Zest is truly an investment in its community. ”

Zest AI, a service organization of credit unions (CUSO), has helped more credit unions and banks switch to AI-driven lending than any other player in the financial industry. Zest credit union clients alone represent $ 56 billion assets and 4 million members.

About Zest AI
Zest AI software helps lenders make better decisions and better loans, increasing revenue, reducing risk, and automating compliance. Zest AI was founded in 2009 with the mission of making fair and transparent credit accessible to all and is today the leader in software for more inclusive underwriting. The company is headquartered in Los Angeles, California. Learn more about www.zest.ai and connect with us on Twitter at @Zest_AI or Zest AI News Blog.

About Blue Federal Credit Union
Blue Federal Credit Union is a non-profit financial institution serving communities across Wyoming and Colorado as well as members around the world. Our goal is to create a true cooperative that is connected and inspired by the communities we serve and to help you discover new ways to realize your possibilities. To learn more about joining Blue, visit bluefcu.com/rejoin.


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