The AI company offers "fairness-as-a-service" to fintechs and lenders, to build a more inclusive financial system
LOS ANGELES, May 2, 2023 /PRNewswire-PRWeb/ -- FairPlay AI, the world's first Fairness-as-a-Service™ company, has been named one of Fast Company's World Changing Ideas. The company was recognized as a finalist in the "On the Rise" category for its innovative approach to financial inclusion, helping level the playing field for historically disadvantaged groups.
The World Changing Ideas list identifies companies using new approaches to solve global problems, from environmental sustainability to social justice. FairPlay's recognition in the list highlights its commitment to using technology to drive progress and profits.
"We started FairPlay with the goal of building fairness infrastructure for the internet to de-bias digital decisions in real time," said Kareem Saleh, founder and CEO of FairPlay. "As we celebrate this recognition from Fast Company, we're reminded that the most significant tech innovations, like fairness-as-a-service, level the playing field, ensuring everyone has an equal opportunity to succeed and driving growth by unlocking potential and expanding market opportunities."
Founded in 2020 by Saleh and AI veteran John Merrill, FairPlay's platform uses cutting-edge AI and machine learning techniques to identify and mitigate bias in decisioning systems. FairPlay's technology gives rejected loan applicants a second look using algorithms tuned to be more sensitive to historically underserved populations. This enables financial institutions to make informed and equitable decisions, leading to greater revenue, reduced regulatory risk and enhanced customer satisfaction. FairPlay works with some of the fintech industry's leading names, including Figure, Octane and Splash Financial.
For more information about FairPlay or to schedule a demo, visit FairPlay.ai.
About FairPlay AI
FairPlay AI is the world's first "fairness-as-a-service" solution helping organizations address algorithmic bias to improve revenues, keep pace with regulations and enhance reputations — all without increasing risk. Built by some of world's foreknown leaders in AI, FairPlay's technology serves financial institutions, lenders, insurance carriers, marketers and others, identifying blind spots in their algorithms and providing automated "second-looks" to improve decisioning systems. FairPlay's tools help lenders identify more good loans and increase the fairness of their portfolios, all without increasing risk. For more information about FairPlay and its products, visit FairPlay.ai.
About the World Changing Ideas Awards
World Changing Ideas is one of Fast Company's major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and help them expand their reach to inspire more people to start working on solving the problems that affect us all.
Media Contact
Hela Sheth, FairPlay AI, 1 678-938-1318, [email protected]
SOURCE FairPlay AI
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