Can A.I. algorithms help end unfair lending?

December 5, 2020

Zest A.I. was developed to remove human bias in lending. But, according to their CEO, they are now ”solely focused on selling software to banks and credit unions to help create and manage A.I. lending models.” Recently, Zest A.I. joined forces with Freddie Mac to increase approval rates for mortgages.

Within the world of SaaS, we see A.I. being deployed for everything related to finance. Funding being available unbiasedly to the best companies and founders would be a huge positive. However, we are hesitant about A.I. lending because we believe many stories cannot be told with only numbers.

We’re looking forward to seeing how this develops.

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