Zest AI Lands AI-Driven Partnerships With 3 CU Leagues
The announcement comes days after the company expanded its services with the Cornerstone League.
Artificial intelligence software provider Zest AI continued its expansion into the credit union marketplace with the announcement Thursday that it had partnered with three credit union leagues.
The partnership with the Minnesota Credit Union Network, Montana’s Credit Unions and the Wisconsin Credit Union League will bring the AI-lending software to more than 250 partner credit unions with more than five million members in the three states, according to a statement from Zest AI.
On March 17, a similar partnership was announced between Zest AI and the Cornerstone League, which represents nearly 500 credit unions in Texas, Oklahoma and Arkansas.
Concerning the new partnerships with Minnesota, Montana and Wisconsin, Zest AI Vice President of Corporate Development Jose Valentin said, “The opportunity to bring AI-driven lending to credit unions across these three states will have a significant impact. Through these partnerships, the lives of millions will be enriched by expanding access to affordable credit.”
According to Zest AI, its software will help lead to a more inclusive loan underwriting and a higher loan approval rate using instant-decisioning done by the AI program.
“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,” John Ferstl, Minnesota Credit Union Network’s COO, said.
President/CEO of the Wisconsin Credit Union League, Brett Thompson, said, “We’re continually working to ensure our Wisconsin League members have access to the top-quality products and services that expand access and opportunity.”
Zest AI has witnessed significant growth within the credit union space in the first part of 2022. In February, the company announced partnerships with the California and Nevada Credit Union Leagues and the Northwest Credit Union Association. With Thursday’s announcement, the organization has expanded credit union partnerships with 10 states so far this year.