Clasp will incorporate FairPlay's Fairness-as-a-Service Solutions to further its mission of offering inclusive financing programs and solving critical talent shortages through a forward-looking approach that benefits both learners and employers.
LOS ANGELES, Oct. 7, 2024 /PRNewswire/ -- FairPlay, the world's first Fairness-as-a-Service™ company, is announcing its partnership with Clasp (formerly Stride Funding), a retention-driven recruitment platform supporting learners around the country with access to education financing, career pathways, and student loan repayment support. Clasp addresses critical talent shortages in hard-to-hire sectors by bridging the gap between education and employment, offering innovative solutions to both learners and employers.
In addition to its recruitment services, Clasp continues to innovate in the inclusive financing space by providing learners with flexible financing options, particularly those from underserved backgrounds or with limited credit history. Through this partnership, Clasp will leverage FairPlay's advanced fairness solutions to ensure the inclusivity and equity of its proprietary decision models. This collaboration will allow Clasp to assess and enhance the fairness of its loan repayment support and student lending offerings, ensuring that employers and learners benefit equally from its programs.
"Clasp is proud to offer financing solutions that support learners traditionally overlooked by other financial systems. We're committed to breaking down barriers by partnering with schools and nonprofits to ensure students across the country have equitable access to education and career opportunities," said David Kafafian, Clasp's Chief Operating Officer.
Founded in 2020, FairPlay provides best-in-class algorithmic debiasing, providing its clients with real-time fairness monitoring and optimization solutions designed to drive growth, reduce risk, keep pace with ever-evolving regulatory requirements and improve positive outcomes for consumers.
"Clasp was founded from a student-first perspective — increasing access to education and career pathways for students while tackling critical talent shortages in fields like healthcare that need it most. By matching students with employers who will commit to not only hiring them after graduation, but repaying a substantial amount of their student loans as they retain, we create a win-win scenario," said Tess Michaels, Founder and CEO of Clasp. "We are excited to use FairPlay's Fairness-as-as-Service solutions to further our mission and ensure that our models remain fair."
"Clasp has established itself as a leader in reshaping the modern labor market," said Kareem Saleh, Founder and CEO of FairPlay. "We're excited to support their mission by helping ensure that their models are as fair and inclusive as possible, while giving employers a greater stake in education financing to foster a more sustainable, equitable, and skilled workforce."
For more information about FairPlay, visit FairPlay.ai. For more information about Clasp, visit Clasp.com.
About FairPlay AI
FairPlay AI is the world's first "Fairness-as-a-Service" solution empowering companies to de-bias their AI models, without increasing risk. Built by some of world's foreknown leaders in AI, FairPlay's technology serves financial institutions, lenders, insurance carriers, marketers, and others, identifying blind spots in their algorithms and providing automated "second-looks" to improve decisioning systems. FairPlay's tools help lenders identify more good loans and increase the fairness of their portfolios, resulting in higher profits and fairer portfolios all without higher risk.
About Clasp
Clasp, a retention-driven recruitment platform, was founded by Tess Michaels in 2018 to tackle critical talent shortages in hard-to-hire fields by bridging the gap between education and employment. By enabling employers to invest in future talent where it matters most—easing overwhelming student debt—Clasp creates lasting bonds between employers and employees. Clasp believes employers having a stake in the cost of education leads to a more sustainable, equitable, and skilled workforce. Clasp works with current students in higher education to match them with companies nationwide looking to fill critical roles across their organization. Once matched, the organization agrees to pay some or all of the student's future loan payments over a specified work commitment. Clasp also offers inclusive financing options to ensure learners from all backgrounds have access to education and career opportunities. To learn more about Clasp, please visit www.clasp.com.
SOURCE Fairplay
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