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Accelerating Transformation & Automation in Lending with AI

By Zest AI
March 15, 2022

Commonwealth Credit Union had a goal of saying yes to more members, especially mid-tier loan applicants that are harder to assess with legacy methods. To meet their goal, Commonwealth partnered with Zest AI to deploy AI underwriting models for its auto loan portfolio. The end result was faster loan approvals for more members with no added risk.

Business Impact Realized:

Commonwealth’s new AI underwriting model increased approvals by 15%, with risk constant, and added 30 basis points in portfolio yield by spotting more profitable members to approve. With more accuracy, Commonwealth was able to increase instant approvals by fivefold. The Zest partnership delivered on all key goals: growth, efficiency and better member experience.

Speakers:

  • Jaynel Christensen is the VP of Lending for Commonwealth Credit Union of Kentucky
  • Curtis Wagner is the VP of Client Services at Zest AI. 

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