FairPlay, the world’s first Fairness-as-a-Service company, is announcing a new partnership with FS Vector, in a bid to introduce fair lending to more financial service firms.
As a result of the partnership, FS Vector will offer FairPlay’s “fairness-as-a-service” products to clients, ranging from Series A startups to Fortune 50 companies, who express interest in fair lending and compliance solutions.
FairPlay founder and CEO Kareem Saleh, said: “Regulation and compliance are growing areas of concern for financial institutions. We’re excited to work with FS Vector’s clients to help them navigate the ever-evolving regulatory landscape.”
Founded in 2020, FairPlay works with financial institutions, lenders, marketers and others to identify blind spots in their algorithms and provide second looks to improve decisioning systems. The company’s products are specifically designed to safely increase loan approval rates, keep pace with regulatory requirements, and enhance customer satisfaction.
FS Vector works with FinTechs of all levels as an extension of their team to navigate complex and ever-changing compliance and regulatory policies.
John Beccia, CEO and Co-founder of FS Vector, said: “In today’s environment, our clients are routinely coming to us seeking fair lending solutions to update their processes and ensure they’re compliant.
“FairPlay’s products can easily be integrated into our clients’ decision-making solutions, increasing fairness and profits. We’re excited to partner with FairPlay to offer their fair lending products to our clients for the first time.”
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