Washington State Employees Credit Union to expand credit access with Zest AI

Zest technology will allow WSECU to say yes more often to members; new scoring models will produce accurate, automated auto lending decisions 

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LOS ANGELES, CALIF., Feb. 15, 2022 — PRNewswire — Washington State Employees Credit Union (WSECU), with $4.5 billion in assets and 280,000 members across Washington and beyond, today announced it has partnered with Zest AI, a leader in technology for AI-driven lending, to increase automation and safely approve more members for new vehicle loans.

"Zest will help us say yes to more members with a solution that safely approves more borrowers overlooked by legacy credit scores," says Julie Lind, VP of Retail Lending. "Our partnership with Zest is another way WSECU is demonstrating a commitment to provide credit responsibly to the people that need it, leaning less on traditional credit scores to make good loan decisions.”

Zest models use more data and math than traditional national scores to produce a more accurate risk ranking without sacrificing compliance. Accuracy gives WSECU the confidence it needs to decide quickly. Credit unions are achieving five-fold increases in auto-decisioning rates by injecting better risk scoring directly into their lending systems. Approval increases are typically 25 percent or more with no added risk. Loan approvals are far more inclusive thanks to the deeper insights drawn from thousands of standard credit variables.

WSECU joins a growing family of credit unions turning to Zest AI for better underwriting — in aggregate reaching five million members and $76 billion in assets. “We’re honored that member-powered WSECU has chosen us to help them achieve their approval rate and automation goals,” said Mike de Vere, CEO of Zest AI. “AI is becoming an imperative for credit unions that want to provide a better experience and enrich their communities.”

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About Zest AI

Zest AI's technology helps lenders make better decisions and better loans. Zest was founded in 2009 to make fair and transparent credit available to everyone and is now a leader in technology for more inclusive underwriting. Portfolios scored by Zest now total $182 billion. The company is based in Los Angeles, California. Learn more at www.zest.ai. 

About Washington State Employees Credit Union

Washington State Employees Credit Union is a not-for-profit financial cooperative headquartered in Olympia, WA, with more than $4.5 billion in assets, 280,000 members, and 22 branches across Washington. Membership is open to anyone who lives, works, or attends school in Washington. Additional information can be found online at www.wsecu.org.