A solution to grow and serve more efficiently

Truliant’s team has been in growth mode—adding nine more branches across Virginia and the Carolinas to ramp up its efforts in expanding the membership base while keeping the same team of underwriters. As a result, they needed a solution that would allow the team to handle a high loan volume (upwards of 30,000 per month), and still have time and resources for members that require additional review and support.

Additionally, Truliant wanted their members to receive fast and fair answers, improving member experience and removing unconscious bias from their loan decisioning process. After receiving certification as a Community Development Financial Institution (CDFI), they needed to ensure their funding went towards initiatives that would better serve underbanked communities and expand access to affordable credit.

AI that makes a difference

Thanks to the Zest AI team’s technology and expertise, Truliant has been able to increase their efficiency and ability to better serve all of their members. Since partnering with Zest AI, Truliant has seen a 2-3x increase in instant approvals and automation across their portfolios. The team has so far been able to automate 68% of all direct auto approvals, 47% of all indirect auto approvals, 77% of all personal loan approvals, and 63% of all credit card approvals.

The credit union has been able to lend more effectively across their diverse communities while still cutting delinquencies. The ability to help more members gain access to affordable credit is important to Truliant as it has a ripple effect in supporting the local economies of the communities they serve.

With increased efficiency and accuracy when decisioning loan applicants, Truliant has been able to dedicate more time and resources to serving the underserved, including using their CDFI funding to combat payday lending in Cleveland County, North Carolina, and South Carolina.