IRVINE, Calif.– Origence said it is joining with Zest AI, a provider of AI-automated underwriting, to offer all Origence arc OS customers a free 90-day trial to access to “accurate, inclusive AI underwriting” for their auto portfolios.
According to the companies, “experiencing the benefits firsthand, in a seamless way through their arc OS platform will give credit unions faster, clearer visibility to how they can benefit from AI adoption. This 90-day AI test drive builds on the momentum of Zest Auto, the AI-automated underwriting model for credit union automotive lenders.”
Origence is an investor in Zest AI. Zest Auto was first announced in May 2023.
More Accurate Insights
The two companies said the solution enables credit unions to access more accurate lending insights and to automate their decisioning to provide better member and dealer experiences and create more durable lending businesses.
Origence said the 90-day, no-obligation trial is being offered free to clients interested in seeing the benefits of AI-automated underwriting for their institutions.
“Preliminary results from Zest AI show a 25+ lift in approvals, a 20% reduction in risk, and an achievement of 80% auto-decisioning,” Origence said. “AI-automated underwriting applies policy equitably, reducing the risk of inconsistent practices. Participating lenders will see results specific to their institution, using their own data.”
The offer is available to Origence arc OS customers through the end of Origence’s Lending Tech Live conference on June 27, 2024.
One CU’s Story
“With Zest Auto, implementation took no time at all and required very little from our team outside of input. Implementing Zest has allowed LincOne to ramp up our efficiency like never before. LincOne is on track to increase our decisioning automation by 156% in just the first few months,” said Terry Zitkovich Jr., chief lending officer at LincOne FCU.
Origence and Zest AI launched an official partnership in July 2022, offering Zest AI’s automated underwriting technology to credit unions using Origence arc OS.
Continuation of Partnership
“This partnership represents the continuation of a successful relationship between Zest AI and Origence. Expanding access to our mutual credit unions allows them to improve their lending performance,” said Tony Boutelle, Origence’s CEO.
Lenders interested in a trial of Zest can submit information request the free trial.
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