FairPlay
FairPlay™️ is fairness analytics for the AI era
FairPlay is a Fairness-as-a-Service solution designed for financial institutions, offering AI-powered tools to assess automated decisioning models quickly. It helps in increasing fairness and profits by optimizing marketing, underwriting, and pricing strategies. The application provides features such as Fairness Optimizer, Second Look, Customer Composition, Redline Status, and Proxy Detection. FairPlay enables users to identify and overcome tradeoffs between performance and disparity, assess geographic fairness, de-bias proxies for protected classes, and tune models to reduce disparities without increasing risk. It offers advantages like increased compliance, speed, and readiness through automation, higher approval rates with no increase in risk, and rigorous Fair Lending analysis for sponsor banks and regulators. However, some disadvantages include the need for data integration, potential bias in AI algorithms, and the requirement for technical expertise to interpret results.
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Features
- Fairness Optimizer
- Second Look
- Customer Composition
- Redline Status
- Proxy Detection
Advantages
- Increased compliance, speed, and readiness through automation
- Higher approval rates with no increase in risk
- Rigorous Fair Lending analysis for sponsor banks and regulators
- AI-powered models to increase fairness and profits for lenders
- Fast assessment of loan portfolio for underwriting and pricing disparities
Disadvantages
- Data integration required
- Potential bias in AI algorithms
- Technical expertise needed to interpret results
Frequently Asked Questions
-
Q:What are the main features of FairPlay?
A:FairPlay offers features like Fairness Optimizer, Second Look, Customer Composition, Redline Status, and Proxy Detection. -
Q:How does FairPlay help in increasing profits?
A:FairPlay's AI models modify loss functions to include a disparity minimization term for protected classes, leading to increased profits while ensuring fairness. -
Q:Is technical expertise required to use FairPlay?
A:Yes, some technical expertise is needed to interpret the results provided by FairPlay's AI-powered tools.
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FairPlay is a Fairness-as-a-Service solution designed for financial institutions, offering AI-powered tools to assess automated decisioning models quickly. It helps in increasing fairness and profits by optimizing marketing, underwriting, and pricing strategies. The application provides features such as Fairness Optimizer, Second Look, Customer Composition, Redline Status, and Proxy Detection. FairPlay enables users to identify and overcome tradeoffs between performance and disparity, assess geographic fairness, de-bias proxies for protected classes, and tune models to reduce disparities without increasing risk. It offers advantages like increased compliance, speed, and readiness through automation, higher approval rates with no increase in risk, and rigorous Fair Lending analysis for sponsor banks and regulators. However, some disadvantages include the need for data integration, potential bias in AI algorithms, and the requirement for technical expertise to interpret results.
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