MIDFLORIDA Credit Union partners with Zest AI to bring AI-powered loans to over 430,000 members in Florida

Zest AI software now provides better and faster access to credit to nearly 2.5 million credit union members across the Sunshine State

LOS ANGELES, May 24, 2022 /PRNewswire/ — MIDFLORIDA Credit Union, one of the largest credit unions in Florida with over $6 billion assets, today announced its partnership with Zest AI, a leader in AI-powered lending software. MIDFLORIDA worked with Zest AI to create and deploy a custom AI credit model that will allow the credit union to increase automation and the number of members approved for auto and personal loans.

Zest AI facilitates models that use thousands of data points and better math than traditional national models. This approach safely approves more members overlooked by legacy scoring, earning 25% to 30% higher approvals with no added risk.

MIDFLORIDA joins many of the largest credit unions in Florida who are deploying Zest AI’s customizable software, dramatically expanding access to more affordable credit across the state.

“MIDFLORIDA Credit Union‘s adoption of Zest’s transparent, AI-powered lending technology brings the implementation of fairer, more accurate and compliant lending activity to more than one third (approximately 37% ) of the state credit union population,” says Jose Valentine, senior vice president of partnerships at Zest AI. “These tools expand access to potential borrowers who may be overlooked by traditional scoring, enriching lives and expanding opportunities by facilitating greater access to more affordable credit.”

“With over 430,000 members across Floridaour partnership with Zest will bring value and expanded opportunities to a significant segment of the population,” says Denis Pershing, EVP/Consumer Lending of MIDFLORIDA Credit Union. “Leveraging their software presents an opportunity to both strengthen our business and provide valuable service to our members.

About Zest AI

Zest AI software helps lenders make better decisions and better loans, which increases revenue, reduces risk and automates compliance. Since 2009, it has made fair and transparent credit available to everyone and is today the leader in more inclusive underwriting software. The company is headquartered in Los Angeles, California. Learn more at www.zest.ai and join us on Twitter at @Zest_AI or Zest AI’s Insights blog.

About Midflorida

MIDFLORIDA is a state-chartered financial institution headquartered in Lakeland, Florida. The Credit Union serves more than 434,000 members with assets totaling more than $6.6 billion through its network of branches, ATMs and its website, MIDFLORIDA.com. MIDFLORIDA Credit Union is open for membership to anyone who lives, works, worships, or attends school in their Florida service area, which extends from Gainesville at Stuart and coast to coast.

Contact: [email protected]


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