The new Origence platform integrates credit scoring technology from Zest AI

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Origence, an Irvine, Calif.-based lending tech CUSO, unveiled a new platform at its Lending Live ’22 conference in Aurora, Colorado this week – and a new partnership with intelligence software provider artificial Zest AI is expected to improve the platform with fairer and more accurate credit scoring and loan decision capabilities for credit union users.

CUSO on Tuesday introduced Origence arc, which allows users to access and leverage its loan origination software and consists of three products: arc OS, CUSO’s loan origination system, formerly known as the name of Lending 360; arc DX, a new digital member experience product offering online loan application and account opening functionality; and arc MX, a marketing automation platform formerly known as Intuvo Marketing Automation that supports digital, mobile, email, and SMS marketing communications.

“Origence arc is a modern platform with the ability to transform the entire origination journey for credit unions and their members,” said Origence CEO Tony Boutelle during his keynote address. opening during the conference. “We know that the future of the lending industry lies in digital platforms – and Origence arc will help us create a new digital experience for members that is one of the most important breakthroughs we’ve engineered in years. .”

In a separate announcement Wednesday, Los Angeles-based Zest AI said it has partnered with Origence, integrating its Model Management System credit scoring technology into Origence’s automated underwriting module for arc OS. According to Zest AI, credit unions that use its machine learning algorithms in credit underwriting can access thousands of data points to determine a credit score, leading to fairer credit decisions than those made. using traditional credit scoring models.

“The integration of Zest AI’s advanced machine learning technology dramatically improves the overall loan decision capabilities of our consumer lending platform,” said Brian Hendricks, chief product officer at Origence. “We are excited to partner with Zest AI to provide unparalleled automated underwriting and credit scoring capabilities that further simplify the lending process, benefiting both our credit union partners and their members.”

Jose Valentin, SVP of Partnerships for Zest AI, added, “Our integration with Origence helps remove barriers that can limit access to technology for lenders, especially those who may not have the necessary resources. to support large IT projects and changes. We’re really excited to see this partnership increase the adoption of machine learning and provide more members with access to fairer credit decisions. »

Additionally, Origence announced on Wednesday that it has partnered with Informed.IQ, a San Francisco-based artificial intelligence software provider for financial institutions, to integrate its technology into Origence’s Document Process Automation functionality, automating the identification of documents and the validation of funding policies. .

“Partnering with Informed.IQ to integrate their industry-leading AI-powered technology allows us to improve the capabilities and performance of our lending systems, further streamlining the overall lending process for our credit unions and their members. “, said Hendricks.

According to CUSO, Informed.IQ’s technology will not only enable users of the Origence system to process loans quickly and efficiently, but also to more easily comply with regulatory requirements and combat fraud.

Informed.IQ CEO Justin Wickett commented, “We’re making auto loan processing easier for credit unions. Using machine learning and accurate data to streamline the decision-making process enhances Origence’s end-to-end solution and their ability to improve staff efficiency, accelerate their lending process, and improve members’ experience.

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