Data Science & AI

Your “Easy Button” for Better Lending

Zest AI team
August 22, 2022

By now, you’re familiar with the promise of AI-based loan decisioning: more approved loans without increased risk in a fraction of the time. Sounds almost too good to be true – but it’s not. Zest AI delivers on this promise every day to credit unions across the country.

So, what’s holding you back?

Is it the dread that goes along with any major technology implementation? If you’ve ever been through a core data processing conversion, or even a digital banking conversion, you know what a herculean effort new technology can sometimes be. And maybe you’re wondering whether a bump in loan approvals – even a significant bump in loan approvals – is worth all that work.

Fortunately, nothing could be further from the truth. Implementing Zest AI is so easy, it hardly qualifies as an IT project. To ease your concerns, we’ve compiled a list of top questions we get from credit unions that are new to the concept of AI-based lending.

Will Zest AI Work With My LOS?

The answer is yes. Zest AI is already integrated with virtually all major loan origination systems, with more being added all the time. What’s more, Zest AI is always interested in identifying new integration partners. We also give you the option to fetch a Zest score and populate your LOS directly . 

Also, keep in mind that Zest AI is 100% cloud based. This provides for the easiest possible implementation, whether your LOS as cloud-based or on-premise.

Does Zest AI Touch My Core?

No, Zest AI’s only integration point is with your LOS. And because we never touch your core, adding Zest AI never adds a new security risk.

How Disruptive Is Adding Zest AI?

Not at all. As mentioned earlier, a Zest AI implementation requires little if any effort from your IT department. From that perspective, it’s a CIO’s dream implementation.

From an end user perspective, there’s no real change once Zest AI has been implemented. That’s because we integrate our software into all your existing workflows. The only difference is that, where you once saw a FICO score, you’ll now see a Zest score. Beyond that, there’s very little change to the employee experience. Except for one thing …

Depending on some choices you make during implementation, you’re going to see an increase in the number of loans that are auto-decisioned by 10, 20 or even 30 percentage points or more. This means your lending employees will be able to pay even greater attention to the members who really need it.

Let’s recap the important points. Zest AI …

  • Helps your credit union make better, faster loans, typically delivering a decision in a fraction of a second.
  • Is integrated to most major loan origination systems and can be integrated to others.
  • Requires no integration to your core data processing system.
  • Is extremely easy to implement, requiring minimal effort from your IT department.
  • Is cloud-based, making it easy to connect to cloud-based and on-premise LOS solutions alike.
  • Does not disrupt or replace any of your existing workflows. 
  • Creates a significantly improved member experience, even for members who’s applications weren’t auto-decisioned.

It truly is that easy. The only question remaining at this point is: What are you waiting for?

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