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Standard Chartered partners with Truera

Thursday 6 August 2020 09:36 CET | News

Standard Chartered has collaborated with US-based startup Truera, to use its model intelligence platform to identify and eliminate unjust biases in the decision-making process.

Truera collaborated with the bank’s retail analytics, risk, digital, and technology teams on a pilot that focused on one of Standard Chartered’s challenger credit decisioning algorithms which uses a combination of traditional and alternative data.

A solution that has been developed works across multiple machine learning platforms and is able to pinpoint the specific variables that influence risk scoring. It also can look for correlations between impartial variables that can act as proxies for demographic indicators such as race or gender, which could lead to the introduction of unjust bias resulting in unfair decisions.

The bank will now work with Truera to further develop the software and explore its application across a range of AI use cases.


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Keywords: Standard Chartered, partnership, Truera, AI, artificial intelligence, US, startup, retail, digital, technology, data, machine learning, banks, software
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United States
This article is part of category

Banking & Fintech