Addition Financial Credit Union selects Zest AI for loan underwriting

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ORLANDO, Florida and LOS ANGELES, January 12, 2022 / PRNewswire / – Addition Financial Credit Union, with over $ 2.6 billion in assets and 162,000 members through Florida, today announced its partnership with Zest AI, a leader in AI-based lending software, to extend access to secure credit to more members.

“At Addition Financial, we’re always looking for ways to give our members more, and Zest’s software gives us the ability to say yes more often to members across the credit spectrum and to all of our loan products. consumption ”, states Myriam mitchell, Senior Vice President of Loans at Addition Financial.

Zest software enables credit unions and banks of all sizes to reap the benefits of AI-powered lending: more accuracy and faster, more automated decisions. Addition’s new Zest models, tailored to its business, will increase approvals by 40% with no additional risk by relying on information from thousands of standard credit bureau variables, compared to around 30 used by the old scores.

“We love the way Addition Financial invests to better serve its community. AI will promote wider access to credit to more of its members, ”said Mike de Vere, CEO of Zest AI. “And faster approvals will create the positive experience Addition members have had for years.”

About Zest AI
Zest AI software helps lenders make better decisions and better loans, increasing revenue, reducing risk, and automating compliance. Zest AI was founded in 2009 to make fair and transparent credit accessible to everyone and today is the leader in software for more inclusive underwriting. The company is headquartered at Los Angeles, California. Learn more about www.zest.ai and connect with us on Twitter at @Zest_AI or Zest AI Knowledge Blog.

About Addition Financial
Addition Financial believes in the power to transform lives by bringing financial success and education to everyone. With a robust suite of financial services designed to meet the needs of members, the Credit Union serves over 162,000 members in 26 full-service branches and nine high school branches, and is part of Presto! ATM network. Based at Lake Mary, Florida, Addition Financial is a non-profit financial cooperative with more than $ 2.6 billion in total assets. With an 85-year legacy of serving educators and supporting education, Addition Financial is the official financial institution of UCF Knights and owns the naming rights to Addition Financial Arena on the University of Central Florida Campus. Addition Financial is also the preferred credit union for Seminole State College and the preferred credit union for Valence College. For more information, visit AdditionFi.com.

SOURCE Zest AI

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