LOS ANGELES, September 22, 2021 / PRNewswire / – Zest AI, a leader in AI-powered underwriting software, today announced a series of measures that underscore its commitment to the credit union industry. Zest has received registered status as a Credit Union Service Organization or CUSO; received an equity investment from the Curql Fund, the largest venture capital fund for the UC industry; and welcomed more leading credit unions to the Zest family of customers.
“Credit unions are our fastest growing customer segment, and I’ll tell you why: Credit unions want to enrich their communities by saying ‘yes’ to more of their members. AI-based loans help them do it faster and with more confidence. Credit unions that use Zest software are going to have a major advantage over banks and fintechs, ”says Zest AI CEO. Mike de Vere.
“We are confident that the future of underwriting will be based on machine learning,” said Bob birr, Vice President, Director of Loans at Credit Union West at Glendale, Arizona. “We looked at a range of ML options, and Zest AI had the greatest impact in terms of more funded loan approvals and reduced risk for cards, auto loans, and personal loans. Partners like Zest can help us improve the lending experience for members and employees. and realize our vision to be our members’ trusted financial services provider for life. “
Achieving CUSO status makes it even easier for credit unions and other CUSOs to work with Zest by establishing the Zest team as a trusted partner and participant in the CU community. Over the past few weeks, Zest has welcomed GreenState Credit Union, HawaiiUSA Federal Credit Union, Credit Union West, and IH Credit Union to the family of CUs making better decisions with Zest software. By the end of the year, across its customer base, Zest software will fuel subscription for 10 million combined members, making Zest the trusted option for the CU community.
Zest also announced a new investment from Curql Collective’s venture capital fund, Curql Fund, the largest venture capital fund in the credit union industry, to close its Series E at $ 40 million. “Zest AI is bringing significant changes to credit unions and better experiences for their members through technology, and we couldn’t be happier to support this mission,” said Nick evens, President and CEO of Curql Collective.
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 Knowledge Blog.
About Curql Collective
Curql Collective is a collaborative approach that brings together venture capital, credit unions and fintech. Launched in 2020, Curql is led by a collective of forward-thinking credit unions, comprising former founders, operators and leaders of fintech and VC spaces. The group’s flagship product, Curql Fund I, invests in the visions of entrepreneurs who thoughtfully and deliberately develop financial services technology that revolutionizes and innovates the way people engage with their money. For more information visit https://www.curql.com/.
SOURCE Zest AI