Zest AI and Origence Partner to Integrate Powerful AI Within Origence arc OS Loan Origination System
Los Angeles, July 27, 2022 – Zest AI, the leader in expanding access to credit through better scoring, and winner of NACUSO’s 2022 CUSO of the Year Award, today announced its partnership with Origence, the nation’s leading lending technology solutions and services provider for credit unions.
Origence will integrate Zest AI’s Model Management System (MMS) credit scoring technology into the robust automated underwriting module for its consumer lending platform – arc OS (previously Lending 360) – providing credit unions partnered with Origence with unrivaled automated decisioning and more accurate credit scoring methods.
Credit underwriting with Zest AI’s machine learning algorithms allows a credit union to use thousands of data points to determine a credit score, meaning the lender can make more equitable credit decisions than when using traditional methods and other competing models. On average, Zest AI customers see a 25 percent increase in approvals without expanding risk tolerance. Approvals increase to around 40 percent when specific demographics like women and protected class borrowers are defined in analysis.
“Incorporating Zest AI’s advanced machine learning technology greatly enhances overall loan decisioning capabilities of our consumer lending platform,” said Brian Hendricks, Origence’s chief product officer. “We are excited to partner with Zest AI to provide unmatched automated underwriting and credit scoring capabilities that further simplify the lending process, benefitting both our credit union partners and their members.”
Serving 64 million members nationwide, 1,130 credit unions utilize Origence’s industry-leading lending technology solutions, including its arc OS consumer LOS and CUDL Indirect Lending Network. Credit unions funded a record 1.3 million loans through these lending platforms in the second quarter of 2022.
The integration with Origence’s consumer lending platform allows credit unions to choose AI-powered, automated underwriting that outputs fairer credit decisions without needing massive IT modernization projects.
“Our integration with Origence helps remove hurdles that can limit access to technology for lenders, especially those that may not have the resources to support major IT projects and changes,” said Jose Valentin, Senior Vice President of Partnerships for Zest AI. “We’re really excited to see this partnership increase the adoption of machine learning and give more members access to fairer credit decisions.”
Credit unions interested in learning more about Origence’s new capabilities using Zest AI’s credit scoring technology can contact Origence at (833) 908-0121.
About Zest AI
Zest AI software helps lenders make better decisions and better loans—increasing revenue, reducing risk, and automating compliance. Since 2009, it has made fair and transparent credit available to everyone and is now the leader in software for more inclusive underwriting. The company is headquartered in Los Angeles, California. Learn more at www.zest.ai and connect with us on Twitter at @Zest_AI or Zest AI’s Insights blog.
Origence provides lending technology that elevates the origination experience to increase loan volume, create efficiencies, and grow accounts. With Origence, financial institutions can originate consumer and indirect loans with greater levels of productivity and increased scale, while also delivering a convenient and personalized borrower experience. Solutions also include marketing automation, auto shopping, lending operations, and more. Origence is headquartered in Irvine, California. For more information, visit www.origence.com and follow us on Twitter and LinkedIn.