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Six Million Scores Later

By Zest AI

Thanks to their customers, Zest AI has helped put more AI-based credit underwriting models into production than any software vendor in the industry. Models built using Zest now score close to $125 billion in lending portfolios across all credit products and they’ve generated more than six million scores to date. So they’ve learned a few things (some the hard way) about doing AI-driven lending.

Zest still gets the same basic questions over and again. Yes, the tech is legit. Yes, you will make significantly more money through higher underwriting profits and efficiency gains. No, you won’t have a problem complying with federal and state banking regulations. Beyond this basic set of fundamental concerns and questions, Zest has put together this special FAQ based on more specific common questions they get from credit unions.

Lessons learned include:

  • Financial inclusion is sound business
  • The advantage of trended data
  • Counterfactual portfolios are key
  • Improving fair lending outcomes
  • Proactive monitoring of credit scoring
  • Change management and innovation

About Zest AI

Zest AI is a mission-driven software company that helps credit unions and banks answer their most important question: Who do I lend to? Zest’s Model Management System lets lenders break the limitations of traditional credit scores to identify good borrowers overlooked by legacy techniques.

Zest has been on a mission to make fair and transparent credit available to all since 2009 and are pioneers in the safe use of AI in credit underwriting.