Zest AI says it has introduced a tool to help banks make AI-powered lending decisions. LuLu Strategy is the newest model of the company’s artificial intelligence (AI) lending intelligence platform, according to a Monday (May 5) news release. The new offering will — at least initially — be available exclusively to customers of digital lending firm MeridianLink, per the release. “By equipping financial institutions with advanced generative AI tools like LuLu Strategy, we’re not just helping individual organizations, we’re strengthening the entire financial ecosystem by fostering greater innovation throughout the sector,” Zest AI CEO Mike de Vere said in the release. “Now, financial institutions have better insights to responsibly expand access to affordable credit to Main Street consumers, which strengthens the economy overall.”

AI-Automated Underwriting and Fraud Detection Helps Banks and Credit Unions in U.S. to Compete with Fintechs While Expanding Lending AccessBURBANK, Calif., April 29, 2025 /PRNewswire/ -- Zest AI , a leader in AI lending technology, today announced the native integration of its AI-automated underwriting and fraud detection with the Temenos Loan Origination solution. This seamless integration arms traditional financial institutions in the U.S. with sophisticated tools to increase loan approvals while maintaining robust risk management in an increasingly competitive landscape.The collaboration delivers two significant advantages: Zest AI's technology is able to analyze thousands of data points—far beyond traditional credit models—enabling more accurate and efficient lending decisions. Additionally, the Zest Protect system identifies fraudulent applications in real-time without disrupting the customer experience, allowing institutions to customize security levels to match their risk tolerance.Temenos Loan Origination is a flexible application designed for both direct and indirect lending. It offers advanced automation, strong decision-making capabilities, customizable applications, and seamless integration with third-party services, making the lending process more efficient and adaptable."By integrating with Temenos' industry-leading loan origination solution, we're dramatically accelerating the lending innovation for financial institutions of all sizes," said Mike de Vere, CEO of Zest AI

Fraud is getting more sophisticated, thanks to artificial intelligence (AI). Fraud can be perpetrated in the form of deepfake videos or voice, with AI producing a clone of a family relative supposedly in an emergency and needs a cash transfer immediately. AI can write more convincing phishing emails, removing telltale signs such as broken English. [] The post 5 Myths About Fraud Prevention for Financial Services Firms appeared first on PYMNTS.com.