defi SOLUTIONS and Zest AI Join Forces to Improve Credit Underwriting for Automotive Finance Providers
WESTLAKE, Texas--(BUSINESS WIRE)--Nov 6, 2019--
defi SOLUTIONS, an innovative lending technology and BPO services provider, today announced a partnership with Zest AI, a leader in AI software. Zest AI will provide defi clients direct access to Zest Automated Machine Learning (ZAML) software for loan decisioning.
The partnership between defi SOLUTIONS and Zest AI makes machine learning credit scoring and advanced risk management capabilities more accessible to banks, credit unions, finance companies, and other lenders. Lenders using ZAML software to predict creditworthiness typically achieve a 15% approval rate increase with no added risk, or a 30% decrease in charge-offs with constant approval rates, according to Zest AI.
“defi helps lenders of all sizes leverage and capitalize on innovations such as Zest AI technology,” said Charles Sutherland, defi SOLUTIONS chief strategy officer. ”We welcome Zest AI to the defi COMMUNITY and are excited to bring the benefits of their software to our clients through our defi products.”
“AI and machine learning are the future of business, and our platform is helping lenders better manage and dramatically advance their credit underwriting business,” said Mike de Vere, chief operating officer at Zest AI. “defi SOLUTIONS’ ability to quickly and easily integrate our software into their offerings is of great benefit to their current and future clients.”
About Zest AI
Zest AImakes the power of machine learning safe to use in credit underwriting. Lenders using Zest Automated Machine Learning make better decisions and better loans -- increasing revenue, reducing risk, and automating compliance. Zest AI was founded in 2009 with the mission of making fair and transparent credit available to everyone and is now one of the fastest growing fintech software companies.
About defi SOLUTIONS
defi SOLUTIONS partners with captives, banks, credit unions, and finance companies of all types and sizes to allow lenders to focus and transform their operations. The company’s comprehensive suite of originations, servicing, and analytics solutions together with technology-enabled processing services creates a flexible, configurable, and scalable platform that addresses lenders and borrowers ever-evolving needs. defi SOLUTIONS combines the expertise of defi SOLUTIONS and the former Sagent Auto Lending with the backing of Warburg Pincus, Bain Capital Ventures and Fiserv.
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CONTACT: Charlie Lewis
KEYWORD: TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES AUTOMOTIVE GENERAL AUTOMOTIVE TECHNOLOGY SOFTWARE FINANCE BANKING
SOURCE: defi SOLUTIONS
Copyright Business Wire 2019.
PUB: 11/06/2019 02:30 PM/DISC: 11/06/2019 02:31 PM