Zest AI

Zest AI is a technology company headquartered in Burbank, California, that specializes in AI-automated underwriting for the financial services industry. The company's core product is an artificial intelligence-powered credit decisioning platform that aims to make lending more accurate, efficient, and inclusive. Zest AI's technology incorporates hundreds of variables to create AI-underwriting models tailored to individual financial institutions, allowing lenders to approve more loans without increasing risk. As of January 2024, Zest AI had helped lenders assess over 39 million consumer loan applications in the previous four years, resulting in USD 250 billion in loans granted based on its models. The company has built close to 400 AI-underwriting models and secured 13 patents for its AI-enabled technology, with 29 more patent applications pending. Zest AI's customer base has grown by an average of 50% annually since 2020, ending 2023 with over 175 customers, including credit unions, banks, and other lenders serving over 110 million people collectively. The number of lending decisions made using Zest AI's technology increased from 16.3 million in 2022 to 22 million in 2023.

Key customers and partnerships

Zest AI has established partnerships with various financial institutions and technology providers. The company's clients include major banks like Citibank, First National Bank of Omaha, and Truist, as well as credit unions such as Golden 1 Credit Union, Suncoast Credit Union, and Hawaii US Federal Credit Union. In May 2023, Zest AI partnered with Origence to launch Zest Auto, an AI-automated underwriting model for credit union automotive lenders. The company also formed a strategic partnership with nCino in May 2023 to integrate its technology into nCino's Consumer Banking Solution, covering auto loans, personal loans, and credit cards. Additionally, Zest AI collaborated with WithClutch in October 2022 to expand inclusive financing and refinancing options for credit union members. The company has also partnered with Equifax to provide credit unions with direct access to its technology along with consumer credit reporting data.