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Zest AI Wins 2021 Fintech Breakthrough Award For Best Use Of AI

Zest AI team

March 16, 2021

It’s awards season in Hollywood and, also, in the fintech industry. Today Zest AI is honored to announce it has won “Best Use of AI in FinTech" in the 5th annual FinTech Breakthrough Awards.

Congratulations to all the Zestians who worked hard to earn this recognition. The FinTech Breakthrough Awards is the premier awards program founded to recognize innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, and InsurTech. The 2021 FinTech Breakthrough Award judges sifted through more than 3,850 nominations from all over the world. Congrats are also in order to all of the 2021 winners from other categories include Plaid, Google Pay, Fiserv, Marqeta, and Quicken.

“It’s really gratifying to watch as technology enables lenders to make better lending decisions. Thank you to FinTech Breakthrough for this incredible recognition in such a crowded space.”

Zest AI helps lenders grow faster with less risk and build a more equitable financial system. With Zest AI technology, lenders can make better lending decisions with a fairer, more accurate picture of every borrower - increasing inclusion and reducing inequity. Zest-built models are proven to reduce model bias and help clients widen their portfolios to include more underserved communities.

Zest AI's recently revamped and improved Model Management System helps lenders switch from traditional credit scoring to the use of advanced machine learning math that incorporates more data to make better credit decisions that achieve faster growth and more significant profits.

“Zest AI is creating innovative AI solutions for a worthy mission - making fair and transparent credit available to all,” said James Johnson, Managing Director, FinTech Breakthrough. “The Company’s use of machine learning represents a breakthrough in more equitable lending, and we are thrilled to recognize Zest AI with our 2021 FinTech Breakthrough Award for ‘Best Use of AI in FinTech.’”

“We're seeing ROIs unheard of in enterprise software and delivering better economic outcomes for overlooked borrowers,” said Mike de Vere, CEO of Zest AI. “It’s really gratifying to watch as technology enables lenders to make better lending decisions. Thank you to FinTech Breakthrough for this incredible recognition in such a crowded space.”

Credit and lending models built with Zest outperform generic scores such as FICO or custom-built logistic regression scorecards. Zest clients can adopt ML models that provide full transparency and generate accurate reason codes. Our intuitive workflow automation provides model validation, business analysis, and compliance documentation for smooth, quick adoption.

Zest AI customers include Discover Financial, Freddie Mac, First National Bank of Omaha, VyStar Credit Union, and Akbank, and their use of Zest AI software spans across a wide range of credit segments and products: auto, personal, student, mortgages, credit cards.

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