Zest AI and Origence Partner to Integrate Powerful AI into Origence Arc OS Lending System
Origence will integrate Zest AI’s Model Management System (MMS) credit scoring technology into the automated underwriting module of its consumer lending platform – arc OS (formerly Lending 360) – providing Origence’s credit union partners with a unparalleled automated decision making and more accurate credit scoring methods.
Credit underwriting with Zest AI’s machine learning algorithms allows a credit union to use thousands of data points to determine a credit score, which means the lender can make fairer credit decisions than using traditional methods and other competing models. On average, Zest AI customers see a 25% increase in approvals without expanding risk tolerance. Approvals increase to around 40% when specific demographics like women and protected class borrowers are defined in the analysis.
“The integration of Zest AI’s advanced machine learning technology significantly enhances the overall lending decision capabilities of our consumer lending platform,” said Brian Hendricks, product manager at Origence. “We are excited to partner with Zest AI to provide unparalleled automated underwriting and credit scoring capabilities that further simplify the lending process, benefiting both our credit union partners and their members.”
Serving 64 million members nationwide, 1,130 credit unions use Origence’s industry-leading lending technology solutions, including its arc OS consumer LOS and CUDL indirect lending network. Credit unions funded a record 1.3 million loans through these lending platforms in the second quarter of 2022.
Integration with Origence’s consumer lending platform allows credit unions to choose AI-powered automated underwriting that produces fairer credit decisions without the need for massive IT modernization projects.
“Our integration with Origence helps remove barriers that can limit access to technology for lenders, especially those who may not have the resources to support large IT projects and changes,” said declared Jose Valentine, senior vice president of partnerships for Zest AI. “We’re really excited to see this partnership increase the adoption of machine learning and give more members access to fairer credit decisions.”
Credit unions interested in learning more about Origence’s new capabilities using Zest AI’s credit scoring technology can contact Origence at (833) 908-0121.
About Zest AI
Zest AI software helps lenders make better decisions and better loans, which increases revenue, reduces risk and automates compliance. Since 2009, it has made fair and transparent credit available to everyone and is today the leader in more inclusive underwriting software. The company is headquartered in Los Angeles, California. Learn more about www.zest.ai and join us on Twitter at @Zest_AI or Zest AI Knowledge Blog.
Origence, a brand of CU Direct, provides loan technology that improves the origination experience to increase loan volume, create efficiencies and grow accounts. With Origence, financial institutions can offer consumer and indirect lending with increased levels of productivity and scale, while providing a convenient and personalized borrower experience. Solutions also include marketing automation, automatic purchases, loan transactions, and more. Origence is headquartered in Irvine, California. For more information, visit www.origence.com and follow us on Twitter and LinkedIn.
SOURCE Zest AI