#3431: How Zest AI's $200 Million Growth Investment Will Expand Equitable Lending via AI...

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Zest AI CEO Mike de Vere joined us on the show to talk about how securing its recent $200 million growth investment from Insight Partners will help his fintech firm expand its mission of making lending more equitable through AI.

Mike also introduced their latest fraud fighting product called “Zest Protect," which quickly and accurately identifies fraudulent activity during the loan decisioning process, helping credit unions, banks and other lenders navigate the rising application fraud environment while safeguarding the borrower experience.

Lastly, he commented on his recent visits to our nation’s capitol discussing the many virtues of AI fintech with lawmakers.

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Q&A summary
What recent investment has Zest AI secured and how will it impact their mission?
Zest AI has secured a $200 million investment aimed at expanding its mission to make lending more equitable through AI.

What is Zest Protect and how does it address fraud in lending?
Zest Protect is a product designed to combat fraud by leveraging AI to identify risky loan applications, significantly reducing fraud losses for credit unions.

How does Zest Protect improve fraud detection for credit unions?
Zest Protect can identify over 50% of fraud by flagging just 15% of the most risky loan applications, enhancing the safety of credit unions.

What unique features does Lulu, Zest AI's generative AI lending intelligence companion, offer?
Lulu provides credit unions with tailored insights and answers to specific questions, improving decision-making and operational efficiency.

What challenges do credit unions face in combating fraud, and how does Zest Protect address these?
Credit unions face advanced fraud tactics, and Zest Protect uses AI to counter these threats effectively, ensuring member safety.

How does Zest AI's approach to AI differ from traditional methods in the credit industry?
Zest AI utilizes advanced data and AI to provide more accurate lending decisions, moving beyond outdated methods that often leave opportunities on the table.

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Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.