Zest Finance: A New Credit Scoring Model

Zest Finance is a unique credit scoring and underwriting operation that uses big data in a world where a few lines of financial information were once sufficient. Zest Finance has found all the loopholes in the traditional underwriting model, and they have created an underwriting system that benefits everyone involved. Lenders are seeing higher rates of repayment, and credit is becoming available to more borrowers.

More Factors In Loan Decisions

Loan decisions were once made by a man or woman at a desk with a paper application. The applications had supporting documentation attached, and the underwriter would make a decision based on this small amount of information. Zest Finance has come up with a brand new model that uses big data to make these same decisions.

Zest Finance brings technology usage, family credit history, information availability and community financial information into the decision-making process. A lender that wants to use a brand new underwriting model must consider how the Zest Finance model changes the way they approve loans.

More Availability

Applicants who were once turned away because of their marginal credit may now be approved under the Zest Finance system. The applicant who has information available to them and lives in a community with a quality financial record is approved more often under this system. The credit score becomes only the first part in a long process that uses several different pieces of information to make a decision.

Uncovering Deadbeats

There are deadbeats out there with very good credit. Businesses and individuals alike can keep their credit relatively clean even though they do not maintain healthy relationships with lenders. The Zest Finance underwriting system finds the holes in the credit or personal history of a deadbeat. Further questions may be asked of the applicant to uncover their unsavory history, and the applicant can be denied before they cause trouble for the lender.

Installation Of A New System

Any company that looks to use the Zest Finance system must commit to a complete installation of their software. The Zest Finance software package is an essential part of loan underwriting, and all loan underwriters must have this software at their disposal. Information from an application may be entered into the system at any time, and the underwriter will receive different results than a cursory review of the application would provide.

Making A Change

Zest Finance is making a change in the industry that helps people with little or no credit. Home ownership is becoming a reality for younger people, and their access to information is a benefit that helps them reach their financial goals. Zest Finance has not overlooked the many ways people maintain their credit, and their model for underwriting has completely revolutionized how loans are approved. A hidden deadbeat can be discovered in moment, and a young borrower may receive the loan they desperately need that would have otherwise been denied.

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