AI in Financial Services

Overview

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Research

RegFi Episode 21: Navigating the AI Revolution in Consumer Lending with Kelly Cochran

FinRegLab Deputy Director Kelly Cochran joins RegFi cohosts Jerry Buckley and Caroline Stapleton for a conversation about how machine learning – including generative artificial intelligence – is used by consumer lenders and the evolving regulatory response. Kelly begins with a helpful distinction between the technologies commonly included under the broad “AI” moniker, noting that many…
Learn More: RegFi Episode 21: Navigating the AI Revolution in Consumer Lending with Kelly Cochran
Consumer AI Underwriting and Explainability with Melissa Koide

“Melissa discusses her organization’s work in evaluating the explainability of complex machine learning algorithms in credit underwriting, model governance and adverse action notices. The conversation covers the CFPB’s recent guidance on credit denial by lenders using artificial intelligence as well as the role explainability plays in promoting fairness and inclusion in lending, methods and tools…
Learn More: Consumer AI Underwriting and Explainability with Melissa Koide
Consumer Reports Launches Video Series in Partnership with Kapor Foundation Highlighting Racial Bias in Algorithms

Consumer Reports released a video series exploring biases in machine learning algorithms and data sets and the resulting unfair practices faced by communities of color. The series is designed to educate consumers on the risks hidden in seemingly “neutral” technologies. FinRegLab CEO Melissa Koide is featured in the Mortgage Lending episode of the series.
Learn More: Consumer Reports Launches Video Series in Partnership with Kapor Foundation Highlighting Racial Bias in Algorithms
The Credit Scoring System has its Downsides — Here’s What a New Credit Scoring and Reporting System Could Look Like

“Credit underwriting with cash-flow data involves using financial data insights from a bank account or other types of transaction accounts to evaluate consumers and small businesses for credit,”
Learn More: The Credit Scoring System has its Downsides — Here’s What a New Credit Scoring and Reporting System Could Look Like
Tackle the ‘credit invisibles’ to help close the racial wealth gap

“Some fintechs think including more data and analyzing it with more advanced algorithms could solve the problem. Others say it’s time to build whole new systems.”
Learn More: Tackle the ‘credit invisibles’ to help close the racial wealth gap

Related Publications

RegFi Episode 21: Navigating the AI Revolution in Consumer Lending with Kelly Cochran

FinRegLab Deputy Director Kelly Cochran joins RegFi cohosts Jerry Buckley and Caroline Stapleton for a conversation about how machine learning – including generative artificial intelligence – is used by consumer lenders and the evolving regulatory response. Kelly begins with a helpful distinction between the technologies commonly included under the broad “AI” moniker, noting that many…

Learn More: RegFi Episode 21: Navigating the AI Revolution in Consumer Lending with Kelly Cochran
Consumer AI Underwriting and Explainability with Melissa Koide

“Melissa discusses her organization’s work in evaluating the explainability of complex machine learning algorithms in credit underwriting, model governance and adverse action notices. The conversation covers the CFPB’s recent guidance on credit denial by lenders using artificial intelligence as well as the role explainability plays in promoting fairness and inclusion in lending, methods and tools…

Learn More: Consumer AI Underwriting and Explainability with Melissa Koide
Consumer Reports Launches Video Series in Partnership with Kapor Foundation Highlighting Racial Bias in Algorithms

Consumer Reports released a video series exploring biases in machine learning algorithms and data sets and the resulting unfair practices faced by communities of color. The series is designed to educate consumers on the risks hidden in seemingly “neutral” technologies. FinRegLab CEO Melissa Koide is featured in the Mortgage Lending episode of the series.

Learn More: Consumer Reports Launches Video Series in Partnership with Kapor Foundation Highlighting Racial Bias in Algorithms
The Credit Scoring System has its Downsides — Here’s What a New Credit Scoring and Reporting System Could Look Like

“Credit underwriting with cash-flow data involves using financial data insights from a bank account or other types of transaction accounts to evaluate consumers and small businesses for credit,”

Learn More: The Credit Scoring System has its Downsides — Here’s What a New Credit Scoring and Reporting System Could Look Like
Tackle the ‘credit invisibles’ to help close the racial wealth gap

“Some fintechs think including more data and analyzing it with more advanced algorithms could solve the problem. Others say it’s time to build whole new systems.”

Learn More: Tackle the ‘credit invisibles’ to help close the racial wealth gap

Events

Beyond the Buzzwords: Building a Tech-Ready CDFI Culture

Learn More: Beyond the Buzzwords: Building a Tech-Ready CDFI Culture
Harnessing Data and Technology for Financial Inclusion in Identity Verification and Transaction Monitoring

FinRegLab co-hosted a convening with the Aspen Institute Financial Security Program for a level-setting conversation about challenges in identity proofing and transaction monitoring, their impacts for consumers’ financial access and stability, and emerging data and technology trends. Learn More
Learn More: Harnessing Data and Technology for Financial Inclusion in Identity Verification and Transaction Monitoring

About FinregLab

FinRegLab is an independent, nonprofit organization that conducts research and experiments with new technologies and data to drive the financial sector toward a responsible and inclusive marketplace. The organization also facilitates discourse across the financial ecosystem to inform public policy and market practices. To receive periodic updates on the latest research, subscribe to FRL’s newsletter and visit www.finreglab.org. Follow FinRegLab on LinkedIn.

FinRegLab.org | 1701 K Street Northwest, Suite 1150, Washington, DC 20006

Overview

Research

RegFi Episode 21: Navigating the AI Revolution in Consumer Lending with Kelly Cochran

Consumer AI Underwriting and Explainability with Melissa Koide

Consumer Reports Launches Video Series in Partnership with Kapor Foundation Highlighting Racial Bias in Algorithms

The Credit Scoring System has its Downsides — Here’s What a New Credit Scoring and Reporting System Could Look Like

Tackle the ‘credit invisibles’ to help close the racial wealth gap