Zest AI says it has introduced a tool to help banks make AI-powered lending decisions. LuLu Strategy is the newest model of the company’s AI lending intelligence platform. The new offering will — at least initially — be available exclusively to customers of digital lending firm MeridianLink. “By equipping financial institutions with advanced generative AI tools like LuLu Strategy, we’re strengthening the entire financial ecosystem by fostering greater innovation throughout the sector,” Zest AI CEO Mike de Vere said. “Now, financial institutions have better insights to responsibly expand access to affordable credit to Main Street consumers, which strengthens the economy overall.” By teaming with MeridianLink, he added, Zest can scale its solution quickly across the financial services landscape, giving regional banks and credit unions the same level of technology that was once exclusively available via national lenders. With the new LuLu Strategy module, financial institutions can access: Policy simulations: ask LuLu for policy recommendations to achieve certain business objectives or change policy rules and quantify the impact on automation, approval rate, and risk.
Application insights: provide deeper understanding of borrower behavior patterns, analyze application metrics and track borrower statistics over time.
Unbooked application analysis: identify missed opportunities by comparing pricing and performance of funded versus unfunded loans.
Loan performance monitoring: access ongoing intelligence to continuously refine lending strategies with in-depth tracking of loan performance, approvals, automation, and fraud as well as delinquency and charge-off investigations