Zest AI aligns with MD|DC Credit Union Association for faster, fairer underwriting decisioning
Partnership will bring Zest’s AI-driven technology for automated credit underwriting to more than 2.2 Million credit union members across Maryland and DC
LOS ANGELES, CA (November 3, 2022) — The Maryland and DC Credit Union Association, is excited to announce their strategic partnership with Zest AI, the leader in expanding access to credit through better scoring and winner of NACUSO‘s CUSO of the Year Award and Finovate’s Award For Best Use Of AI/ML In Finance. This partnership will grant access to Zest’s AI-driven credit underwriting for all Maryland and D.C. area credit unions.
“Zest AI has a proven track record of delivering value for credit unions across the country,” said John Bratsakis, President/CEO of MD|DC Credit Union Association. “We’re pleased to bring this powerful resource to our area, as it is a win-win for both credit unions’ bottom lines and member opportunity.”
As a strategic alliance provider for CUNA Strategic Services, Zest AI’s technology allows credit unions and other financial institutions to make data-driven underwriting decisions tailored to the communities they serve. Using Zest’s technology, credit unions can analyze hundreds of member data points in seconds and better determine lending decision outcomes. Credit unions using Zest AI’s technology see an average increase in approvals of over 25 percent, and some have increased the automation of their lending decisions fivefold.
“Working with the Association to reimagine the lending experience for 2.2 million members across Maryland and D.C. will be transformative for credit unions that remain firmly committed to better serving their members,” said José Valentín, Senior Vice President of Partnerships at Zest AI. “Transparent, compliant, and inclusive lending technology like Zest AI’s equips credit unions to be the financial health and wellbeing centers their members need them to be, especially in times of economic uncertainty.”
Zest AI’s technology gives credit unions the ability to monitor economic shifts and the agility to respond to changes in market conditions. With this capability, credit unions can be responsive to their members during fluctuations in the economic cycle and serve more members when they need it.
“Our priority is to deliver industry-leading solutions that uplevel compliance and fair lending expectations, help mitigate risks to credit unions, and increases access to credit for those borrowers who may get overlooked by traditional scoring methods. We’re excited to collaborate with the Association and Zest AI to bring game-changing technology to credit union partners,” said Barb Lowman, President of CUNA Strategic Services.
About Zest AI
Zest AI is a tech company on a mission to broaden access to equitable lending. Since 2009, we've worked with financial institutions to provide AI-driven credit solutions to their borrowers. Today we work with all types of lenders as a catalyst for economic equity by helping them leverage AI's potential for good. Learn more at Zest AI and connect with us on LinkedIn.
About MD|DC Credit Union Association
The MD|DC Credit Union Association is the regional trade association for credit unions in the Maryland and Washington region that serve more than 2.2 million member-owners. Credit unions are not-for profit financial cooperatives that are locally controlled and owned by the people they serve. For more information, visit mddccua.org.
About CUNA Strategic Services
CUNA Strategic Services develops strategic alliance relationships to bring credit unions innovative solutions that will drive membership growth and operational excellence at an attractive price. The company is majority-owned by Credit Union National Association and state Leagues. For more information, visit www.cunastrategicservices.com.
