Zest AI

Zest AI is a suite of applications and a model management system offered by Zest AI, aimed at lenders in the financial industry. According to the vendor, the primary purpose of Zest AI is to assist lenders in building, adopting, and operating AI-driven credit models. The goal is to help lenders increase loan approvals, manage risk, drive operational efficiency, improve borrower experience, and ensure fair lending practices. Zest AI caters to lenders of all sizes, including banks, credit unions, and other financial institutions.

Key Features

Build: According to the vendor, Zest AI's build application allows lenders to create tailored underwriting models that can identify creditworthy borrowers who may be overlooked by national credit scores. Lenders have the flexibility to incorporate hundreds to thousands of variables into their models, capturing variable interactions and modeling more realistic relationships between data points. The aim is to improve risk assessment across the credit spectrum.

Adopt: Zest AI's adopt application provides lenders with automated and seamless model analysis and validation capabilities. According to the vendor, lenders can easily evaluate the components of a proposed model and assess its performance against benchmarks. This feature aims to help lenders meet regulatory and fair lending requirements through comprehensive documentation and validation processes.

Operate: With Zest AI's operate application, lenders can monitor the performance of their models in production. According to the vendor, lenders gain insights into loan-level and model performance, enabling them to identify booking trends, borrower changes, and feature importance. The goal is to help lenders detect market and borrower changes early on and make necessary adjustments to mitigate any adverse effects on their business.

Zest Model Management System: Zest AI's Model Management System is designed to provide lenders with everything they need for effective credit model management and easy AI adoption. The system includes a suite of applications, such as build, adopt, and operate, which aim to streamline the work of various stakeholders involved in the lending process. According to the vendor, lenders can leverage this system to increase approvals and loan growth, automate credit decisioning, manage risk and control losses, improve borrower experience, and drive operational efficiency. The Zest Model Management System is said to benefit multiple teams involved in lending, including credit risk, compliance, loan operations, and IT.