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ZestFinance Makes Machine Learning Tools Available Via Microsoft Cloud

Lenders using ZestFinance Inc.’s technology can now use Microsoft’s cloud-based Azure platform rather than their own servers to analyze machine learning models. “Testing and training machine learning models is a very compute-intensive task,” said ZestFinance founder and Chief Executive Doug Merrill. “Being able to tap Microsoft’s Azure cloud allows customers using Zest tools to train […]

Automated Decisioning Platform Zoot Enterprises Mulls Expansion Into Powersports

ORLANDO — Zoot Enterprises, an automated credit decisioning platform, is “in talks” with powersports groups, but requires more data before it commits to the market, Eric Hathaway, vice president of marketing, told Powersports Finance at CBA Live yesterday. Zoot typically works with the top 100 banks, but it does have partnerships with six auto lenders because […]

ZestFinance to Sign With 2 Lender Partners

ZestFinance, an artificial intelligence-based underwriting company, plans to make its foray into powersports with the addition of two potential lender partners, Chief of Staff Kareem Saleh told Powersports Finance. “We have had two powersports companies came to talk to us, and we haven’t signed deals with them yet, but we are still negotiating,” Saleh said, adding […]

ZestFinance Seeks Growth in ‘Huge’ Chinese Market

China has potential to be a “huge market” for alternative credit decisioning, ZestFinance Chief Executive Douglas Merrill told Auto Finance News. “Only 20% of Chinese citizens have data available in the country’s primary credit bureau, The People’s Bank of China,” he said. “I think there’s a lot of opportunities for financing, I’m pretty excited about […]

8 Tips for Marketing to Millennials as Sales Slip

As baby boomers continue to age out of the industry — replaced with millennial buyers — manufacturers like Harley-Davidson Inc. and Polaris Industries Inc. are brainstorming ways to target these consumers. But as this age demographic shifts, lenders will also need to be innovative in their underwriting and marketing efforts to cater to this “up […]

Why Machine Learning for Credit Approvals Sparks Interest From Lenders

When Ford Motor Credit Co. announced it would start to use machine learning for underwriting practices in August, the automotive industry took notice. It is estimated that 30 to 40 auto lenders are looking at alternative credit data for underwriting, either in active usage or in viability testing, according to Brian Landau, senior vice president […]

ZestFinance Preps for Powersports Debut

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 […]

VC Firm Poised to Invest in Mobility Startups by Yearend

Autotech Ventures, a venture capital firm that primarily invests in startups, will announce several investments in ground transportation companies within the next few months, Quin Garcia, managing director of the VC, told Auto Finance News. “We are actively looking at several companies across the ground transportation spectrum, but unfortunately cannot go into specifics beyond that,” […]
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