FairPlay partners with FS Vector to introduce fair lending to more financial service firms

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Sep 20, 2023, 11:23 ET

FS Vector will offer FairPlay's "fairness-as-a-solution" products to clients, allowing fair lending to be embedded into financial platforms

LOS ANGELES, Sept. 20, 2023 /PRNewswire/ -- FairPlay, the world's first Fairness-as-a-Service^™ company, is announcing a new partnership with FS Vector, a strategic consulting firm for financial services clients. 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.

"Regulation and compliance are growing areas of concern for financial institutions," said FairPlay founder and CEO Kareem Saleh. "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 financial institutions and fintechs of all stages, from Series A startups to Fortune 50 companies, working as an extension of their team to navigate complex and ever-changing compliance and regulatory policies. As FS Vector helps companies launch new products, build a new compliance program, or mature an existing program, they also work to improve their clients' use of technology, including integrating services such as FairPlay to help improve their decisioning systems. FairPlay's products include:

Second Look Credit Underwriting module
Model Optimizer
Fair lending testing and reporting

"In today's environment, our clients are routinely coming to us seeking fair lending solutions to update their processes and ensure they're compliant," said John Beccia, CEO and Co-founder of FS Vector. "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."

FS Vector's services include:

Advisory
Advocacy
Talent Sourcing
Headmaster^™ regulatory compliance training platform

For more information about FairPlay, visit FairPlay.ai. For more information about FS Vector, visit www.FSvector.com.

About FairPlay AI
FairPlay AI is the world's first Fairness-as-a-Service^™ solution helping organizations address algorithmic bias to improve revenues, keep pace with regulations, and enhance reputations—all without increasing risk. Built by some of the world's foreknown leaders in AI, FairPlay's technology serves the world's top financial institutions, lenders, insurance carriers, marketers and more, identifying blind spots in their algorithms and providing automated Second Looks to improve decisioning systems, identify more good loans and boost profits while increasing fairness. For more information about FairPlay and its products, visit FairPlay.ai.

About FS Vector
FS Vector is a Washington, D.C.-based strategic consulting firm that delivers a range of advisory and advocacy solutions to fintech clients, including business strategy, regulatory, compliance, licensing, training, technology, government relations, and public policy matters. For more information about FS Vector, please visit fsvector.com.

SOURCE Fairplay