Climb has teamed up with Zest to use their Model Management System to power our student lending credit model, further enhancing accuracy and fairness. The Zest-built model has the ability both to improve accuracy and can generate higher approval rates by nearly 20% (based on Zest’s prior consumer lending experiences), while further minimizing the impact of credit bureau data known to correlate with race, gender, and ethnicity.
To read more about Climb’s use of Zest software in our underwriting process going forward, check out the official press release below!
About Zest AI
Zest AI makes the power of machine learning safe to use in credit underwriting. Lenders using Zest AI software make better decisions and better loans—increasing revenue, reducing risk, and automating compliance. Zest AI was founded in 2009 with the mission of making fair and transparent credit available to everyone.
About Climb Credit
Climb (NMLS# 1240013) is an innovative student payment platform that makes career creation and transformation more accessible, affordable, and accountable than ever before. Driven by a mission to empower individuals to unlock their career potential – no matter what their credit profile – Climb identifies programs and schools with a demonstrated ability to improve the earnings of their graduates. Then they provide learners with financing options that are priced and structured to meet the unique needs of those seeking career elevation and increased earning power. Recognizing the dynamic and diverse nature of an economy in rapid change, Climb partners with schools that teach everything from cybersecurity to healthcare training, heavy machine operation to data science, and culinary arts to coding. While some colleges are struggling to meet the real-world needs of their students, Climb and its partner schools are committed to an inspiring practicality that brings real career results as individuals Own Their Next chapter.