Financial credit

Addition Financial Credit Union selects Zest AI for loan underwriting

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

“At Addition Financial, we are 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 home loan products. consumption,” says Miriam Mitchell, senior vice president of lending 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 based on information from thousands of standard credit bureau variables, compared to the 30 used by the old scores.

“We love how Addition Financial is investing to better serve its community. AI will enable broader access to credit for more of its members,” said Mike deVere, CEO of Zest AI. “And faster approvals will create the positive experience that Addition members have known for years.”

About Zest AI
Zest AI software helps lenders make better decisions and better loans, which increases revenue, reduces risk and automates 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 in Los Angeles, California. Learn more about www.zest.ai and join 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 member needs, the credit union serves more than 162,000 members through 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 not-for-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 the UCF Knights and owns the naming rights for Addition Financial Arena to the University of Central Florida Campus. Addition Financial is also the preferred credit union for Seminole State College and the preferred credit union for Valencia College. For more information, visit AdditionFi.com.

SOURCE Zest AI