FairPlay AI

Exciting news! ?? Kareem Saleh, Founder and CEO of FairPlay AI , will be joining us at the #JustEconomy Conference to share insights on equity, fairness, and the future of inclusive finance. Don’t miss this opportunity to hear from a leader shaping the industry! ?? #FairFinance #EquityForAll

Calling all Consumer Bankers: FairPlay is heading to Orlando next week for CBA Live! If you’re interested in how automated fair lending testing and optimization can help you make more money and do more good, email us at [email protected] to set up a meeting. And don’t miss our Monday morning panel on AI featuring colleagues from M&T Bank, Relman Colfax PLLC, and SolasAI in the Palazzo room. If you want to turn compliance from a cost center to a competitive advantage, let's connect in Orlando!

Happy Monday, everybody! I am hiring for an exciting and impactful role! Please share with anyone that you think might be a good fit or message me directly if you are interested. Thanks!

I'm thrilled to announce that JPMorganChase, Infinity Ventures and Nyca Partners have made a $10m investment in FairPlay. This new funding will accelerate our mission to build a fairness infrastructure for the Internet, thereby creating greater safety for consumers in today’s race to AI adoption. The future of responsible AI is bright, and to have the support of these three organizations is both a privilege and a validation of our mission. We’re honored to have them by our side. A heartfelt thank you to Shuman Chakrabarty, Ashwini Krishnamurthy, Jacob Clark, Mary Wang, Julia Decerega, Katherine Hunter, Jay Ganatra, Jeremy Jonker, Samantha Klingelhofer, Levi King, Tom Brown, Jeremy Solomon, Hans Morris, Max Liebeskind, Ryan Falvey, Tyler Griffin and many many others (TTV Capital, Fin Capital, Third Prime, WillowTree Investments, Restive Ventures) for their belief in and support of FairPlay. You can read more about what we’re up to in: The The Wall Street Journal: https://shorturl.at/86NVO American Banker: https://lnkd.in/g_G2di2k If you want to find and fix AI blindspots, #werehiring

The FairPlay team is excited to announce a new $10M funding raise, with participation from Infinity Ventures, JPMorganChase and Nyca Partners. This new funding will accelerate our mission to build a fairness infrastructure for the Internet, thereby creating greater safety for consumers in today’s race to AI adoption. The future of responsible AI is bright, and we are honored to have the support of these three organizations. You can read more about what we’re up to in today’s The Wall Street Journal: https://lnkd.in/g6vy898s If you want to find and fix AI blindspots, #werehiring

Check out the latest episode of "The Buzz" podcast by Bank Automation News, featuring FairPlay AI Founder and CEO Kareem Saleh. Saleh explains how even automated algorithms are not immune to biases, how FairPlay is using AI to help banks and credit unions identify "blind spots" in fair decisioning, and shares what's in the pipeline this year for FairPlay. #podcast #ai Listen here: https://lnkd.in/d2g8Vw5r

https://hubs.la/Q0382m5Z0 FairPlay AI, a “fairness as a service” startup is launching an index tool in Q3 of this year that shows financial institutions how their underwriting affects consumers. Founder and CEO Kareem Saleh joins "The Buzz" podcast to discuss how FairPlay is using AI to help lenders make fairer decisions. #ai #banking #digitalbanking #tech #podcast

Would AI have drafted Michael Jordan? AI is a powerful tool but it often misses the mark when evaluating human potential. Consider some of history’s greatest athletes: Muggsy Bogues, at 5’3”, led the NBA in steals and defied every expectation of what a point guard “should” be. No algorithm would draft him—too short. Cal Ripken Jr. redefined baseball as a 6'4" shortstop. Machines would have rejected him as "too tall" for the role. Michael Jordan didn’t fit any mold. He wasn’t the best scorer, playmaker, or defender—but he fused all three with an unquantifiable competitive fire. These legends had intangible qualities like creativity, adaptability, and grit. Traits no spreadsheet can capture. AI excels at optimizing within predefined parameters of what “good” looks like. Yet, transformative potential often lies beyond these boundaries. Jordan didn’t just play the game—he rewrote it. Similarly, in lending, traditional underwriting models focus on conventional credit scores and employment histories, overlooking important signals like cash flow stability, bill payment consistency, and other indicators of financial responsibility. At FairPlay, we help companies build AI systems that see beyond the obvious metrics to recognize the full spectrum of human potential. If even the greatest athletes would’ve been overlooked by AI, how might it fail other unseen innovators, entrepreneurs, and borrowers? The question isn't whether AI can quantify intangibles. It's whether we're brave enough to use tools that try.

With the Consumer Financial Protection Bureau (CFPB) effectively shut down, should mortgage originators still submit their Home Mortgage Disclosure Act (HMDA) data to the government? Yes. Here’s why: 1. Legal Requirements Remain Unchanged:? Even though the CFPB’s operations are in question, HMDA itself remains in effect. The statute and its implementing regulations remain valid federal law. The current situation at the CFPB doesn't alter the fundamental legal obligation to collect and report lending data, regardless of the agency's operational status. 2. HMDA Submission Infrastructure Continues to Function: For now, the HMDA filing portal remains operational and continues to accept submissions. The technical infrastructure for reporting hasn't been affected by the CFPB's current situation and there has been no official suspension of reporting requirements.? This means lenders can fulfill their reporting obligations through the established channels. 3. State-Level Enforcement Remains Possible: Even if the CFPB’s enforcement capabilities are limited, state Attorneys General and state financial services regulators retain the authority to enforce HMDA requirements. They can bring actions against lenders that fail to file. For lenders other than national banks, state regulators could impose penalties. What Happens After You Submit? While the obligation to submit HMDA data is clear, the use of that data by the government is less certain. Historically, the CFPB has published aggregate data by mid-June each year. With bureau staff reportedly instructed to stand down from various supervision and enforcement activities, this timeline may shift. Before the CFPB's creation, the Federal Reserve was responsible for HMDA data collection and reporting. Given current discussions about consolidating federal financial regulators, we might see a return to this arrangement. While uncertainty surrounds the CFPB's operational status, the prudent approach for mortgage originators is to maintain compliance with HMDA reporting requirements. The legal obligation remains in force, the submission infrastructure is operational, and state-level enforcement capabilities are unaffected. Better to be safe than sorry!

#Pathward is partnering with FairPlay AI, a market leader in regulatory compliance for credit decisioning, to leverage FairPlay’s technology to advance its analytical capabilities—driving efficiency through automation and software while promoting financial inclusion. Learn more about the partnership in today’s press release at https://pthwrd.com/4gTWGkE. #FinancialInclusion #Compliance #FairLending #Technology