Zest AI Expands Credit Union Fraud Protection Through Integration with Sync1 Systems

Expanded partnership brings smarter, more efficient AI fraud detection to financial institutions

BURBANK, Calif., Jan. 30, 2025 /PRNewswire/ -- Zest AI, the leader in AI lending technology, today announced an expanded partnership with Sync1 Systems, an industry-leading cloud-based Loan Origination System, focused on lending and digital experience. This strategic collaboration provides Sync1 Systems' customers with access to Zest Protect, Zest AI's smarter, configurable, and seamless AI application fraud detection tool, to more quickly and accurately identify and capture different types of origination fraud during the loan application process. Building on Sync1 Systems' June 2023 integration of Zest AI's automated underwriting capabilities, this expansion builds on the established partnership between the two companies.

"Credit unions need sophisticated fraud protection that works seamlessly with their lending technology," said Steve Maloney, CEO of Sync1 Systems. "By integrating Zest Protect into our platform, we're giving our partners enterprise-grade fraud detection that fits simply, and easily into their existing workflows and can be tailored to their specific needs and communities."

The Federal Trade Commission estimates that consumer fraud losses in 2023 exceeded $10 billion. Credit unions and community banks reported a 69% surge in fraud cases across consumer accounts and 79% of credit unions and community banks reported more than $500K in direct fraud (more than any other segment).

Zest Protect addresses this challenge by embedding sophisticated, holistic fraud detection directly into the decisioning workflow. The solution boosts confidence for automated approvals while providing additional insights for suspicious applications. Credit unions can customize fraud detection thresholds, configure portfolio-specific rules, and protect against multiple fraud types – including synthetic identities and misreported income – all within their existing loan origination interface. This partnership allows Sync1 Systems' customers to maintain their decisioning processes with confidence, providing borrowers with a modern, speedy experience, while also significantly reducing their fraud loss.

"Through our partnership with Sync1 Systems, we're making advanced fraud protection accessible to financial institutions with no per-application fees, ensuring comprehensive screening while staying ahead of emerging fraud patterns," said José Valentin, Head of Strategic Partnerships at Zest AI. "We're thrilled to expand our partnership with Sync1 Systems because robust fraud prevention isn't just about protecting individual transactions – it's the cornerstone of maintaining trust and stability in our entire financial system. "

About Zest AI‍
Zest AI is a tech company on a mission to broaden access to equitable lending. Since 2009, we've worked with financial institutions to use AI lending technology to better serve their borrowers. Today, we work with all types of lenders as a catalyst for economic equity by helping them leverage AI's potential for good. Most recently we were named to the Forbes Fintech 50. Learn more at Zest AI and connect with us on LinkedIn.

About Sync1 Systems
Sync1 Systems is an Austin-based loan origination software CUSO focused on lending and digital experience. We use the most effortless and seamless technology to transform the user experience and bring power to our partners for today's ever-changing lending landscape. Founded by innovative experts, we understand our credit union partners' unique needs. Sync1 Systems exists to serve the needs of our partners, and lending is our core foundation, bringing a turnkey solution to the credit union industry. For more information, visit https://www.sync1systems.com/, call (888) 200-7801, or email [email protected].

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SOURCE Zest AI