Latest / Fintech Conversations with Fexingo: Banking, Payments, and Financial Software Companies
The Hidden Cost of Algorithmic Underwriting
We talk about how financial institutions are using machine learning to assess risk, focusing on the opacity of these models. Lucas and Luna explore a specific case where an algorithm denied a small business loan despite strong cash flow, highlighting the lack of explainability in automated decisions. We discuss the regulatory response from the Federal Reserve and what this means for lenders and borrowers alike.
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The skinny
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