Announcements

Zest Settles All Claims, Cuts Ties With Payday Lending

Zest AI team

September 11, 2020

Zest AI announces the resolution of all class action litigation against its predecessor business, ZestFinance, related to claims that a former ZestFinance client overcharged its own borrowers for personal loans. With no admission of fault, we settled with the plaintiffs and cut all ties to the client involved, as well as to the payday loans industry. That chapter of our story is closed.

Zest AI is now a trusted partner to the world’s largest financial institutions. Our software product enables lenders of all sizes to use the power of machine learning to deliver the fairest and most profitable credit solutions to their customers. Our mission when we began in 2009 was to bring fair and transparent credit to all. We re-commit to that mission in 2020.

As data and analytics people, we have been handed a rare opportunity to use smarter algorithms to root out the bias in the U.S. economy encoded by centuries of racial and gender discrimination. We intend to use it.

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