ZestFinance, an artificial intelligence-based underwriting company, is preparing for its entrance into the powersports sector as the company continues its “deep” discussion with one powersport lender, Powersports Finance has learned.
The company is currently in talks with several lenders — mostly auto lenders — and these talks are “qualified and deep discussions,” Douglas Merrill, co-founder and chief executive of ZestFinane, told Powersports Finance.
“I think [powersports lending] would be very well served by real machine-learning underwriting,” Merrill said. So far, the company has found the powersports lending space to be a bit “weird,” he said, because of missing data and that some customers have more complicated credit.
