LendingPoint Partners with FairPlay to Enhance Algorithmic Decision-Making
Date – 13-Aug-2024
LendingPoint will integrate FairPlay’s Fairness-as-a-Service™ solutions to advance its mission of delivering comprehensive financing options for both consumers and lending institutions. FairPlay, the pioneer in Fairness-as-a-Service™, is partnering with LendingPoint, an award-winning online loan and servicing originator, to enhance its algorithmic qualification and automated funding decisions.
Established in 2020, FairPlay specializes in algorithmic debiasing, offering real-time fairness monitoring and optimization solutions. These tools are designed to drive growth, mitigate risk, comply with evolving regulations, and improve consumer outcomes.
“LendingPoint’s approach to credit is modern and inclusive, assessing a broader range of factors to evaluate creditworthiness and focusing on the applicant’s complete financial picture,” said Shawn Stone, Chief Executive Officer of LendingPoint. “We are excited to leverage FairPlay’s solutions to ensure our models deliver financing options fairly.”
Kareem Saleh, Founder and CEO of FairPlay, added, “LendingPoint has long been an innovator in utilizing machine learning and alternative data to assess creditworthiness. We are thrilled to partner with them to further their mission of providing accessible, straightforward financial solutions that meet individual needs.”
