Zest AI unveils new post-origination risk analysis product to help credit unions navigate turbulent economic conditions

The Zest Portfolio Management solution delivers more accurate and inclusive risk intelligence to credit unions so they can optimize lending product strategy after origination

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LOS ANGELES, CALIF., September 12, 2023 — PRNewswire — Zest AI, the leader in automating underwriting with more accurate and inclusive lending insights, announced today a new product, Zest Portfolio Management, to help credit unions better manage their consumer lending business and take action through changing market conditions. Credit unions can now use Zest AI’s proven technology for risk ranking accuracy from origination to portfolio analysis, as well as gain deep applicant insights to optimize their lending strategy.

Credit unions using the Portfolio Management tool will have greater visibility to the health of loan portfolios, in depth applicant insights, and overall more accurate lending data. Zest AI clients using this tool will receive a robust, detailed, and digestible report using more data and better math. The dynamic, drill-down report interface is delivered along with access to Zest Customer Success expertise, providing credit unions with access to AI-automated underwriting experts to assist in taking action on adjusting lending strategy appropriately.

“Greater Texas Federal Credit Union is looking forward to saving time and resources with Zest AI’s new offering instead of creating reports and second-guessing analysis based on the old industry scoring model,” said Chief Lending Officer of Greater Texas Federal Credit Union, Benjamin Teske. “These insights will enable us to take measurable action to save loans from defaulting and continue to support our borrowers through their life with the loan. Having easy access to an up-to-date, smarter portfolio analysis on a granular level, and by vintage is game-changing.”

Current portfolio management solutions in the market are based on yearly, point-in-time analysis, whereas Zest AI’s approach allows insights to be gathered as frequently as needed. Credit unions gain better insights into business performance against the market and can construct lending strategies and policies based on both funded and unfunded applicant performance. This allows credit unions to take action faster, be more agile to mitigate delinquencies and charge offs, and maintain a more resilient lending business.

“Zest AI saw credit unions’ need to maintain a durable lending business long after origination and responded. With market conditions continuing to change and evolve, our clients need ongoing, accurate insights to inform their lending strategies and help them proactively take measures to firm up their lending business, so they can continue to thrive and support their communities,” said CEO of Zest AI, Mike de Vere.

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About Zest AI‍

Zest AI is a tech company on a mission to make fair and transparent credit accessible for everyone. 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 — but especially credit unions — to democratize underwriting automation and equitable credit decisioning. Learn more at Zest AI and connect with us on LinkedIn.