Innovation In Lending

Why Zest AI is teaming up with CuneXus

Zest AI team
February 23, 2022

Why did we announce a partnership with CuneXus today? Easy. To make credit more affordable for consumers and boost long-term financial wellness for millions. Zest AI will be helping CuneXus help its customers all across the credit spectrum get even better access to well-priced loans when they need them.

The CuneXus platform helps dozens of financial institutions deliver personalized, pre-approved offers for loans and other financial services within an easy-to-use digital storefront. Now, CuneXus customers can tap into even more approvals across the credit spectrum by pre-scoring all eligible consumers using Zest AI’s robust and compliant AI-driven credit risk models.

By using fairer underwriting models within the CuneXus platform, credit unions and banks can extend firm offers to more members and customers. This approach will also help consumers lower on the credit spectrum build healthier credit scores, improving their long-term financial wellness.

"Zest AI allows us to lend deeper than we typically have in the past and we are pleased to see an increase in the diversity of scores being approved.”

CuneXus user Commonwealth Credit Union added Zest AI’s technology in March 2021, increasing pre-approvals and better serving underserved markets as a result.

Jaynel Christensen, Vice President of Lending at the credit union, explained, “Since leveraging Zest AI, our instant approval rates jumped from seven percent to 25 percent. This means that 18 percent of our members, who previously waited for a decision on a loan application, are now getting approved immediately. This has not only improved our funding rate but has also boosted our member satisfaction scores. Zest AI allows us to lend deeper than we typically have in the past and we are pleased to see an increase in the diversity of scores being approved.”

José Valentín, Vice President of Corporate Development at Zest AI, said, “Any opportunity to help people gain better access to affordable credit is a win. Zest's AI-driven underwriting, coupled with CuneXus' perpetual lending platform, has the potential to drive more inclusion and approvals for millions of consumers.”

Dave Buerger
, Co-founder and President of CuneXus, commented, “Credit unions and banks should be equipping consumers with every opportunity for financial excellence. The CuneXus – Zest AI partnership aims to achieve just that, providing financial institutions with the opportunity to widen access to affordable credit and improve financial health for many. It’s a good thing for both the underserved and the financial institution, a real win-win.”

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