MeridianLink, Inc. announced on January 28, 2025, an expanded partnership with Zest AI, a leader in AI lending technology. This collaboration provides MeridianLink's over 2,000 customers with access to Zest Protect, Zest AI's AI-powered fraud detection tool. The goal is to enable more accurate and quicker identification and prevention of fraudulent activity during the application process.
Consumer fraud losses exceeded $10 billion in 2023, with credit unions and community banks reporting a 69% surge in fraud cases. Zest Protect offers robust protection against compromised identities, first and third-party fraud, and misreported income, fully integrated with lenders' existing fraud review processes. This aims to significantly reduce fraud losses while maintaining a speedy borrower experience.
Megan Pulliam, SVP of MeridianLink Marketplace, stated that Zest Protect will be a game-changer due to its seamless integration with the loan origination system, covering all application fraud. The tool is configurable and customizable, allowing financial partners to fine-tune risk thresholds by fraud type, portfolio, and region.
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