With its mission to “make people more powerful than their debt,” Splash’s proprietary risk modeling will now incorporate FairPlay’s Fairness-as-a-Service Solutions
FairPlay, the world’s first Fairness-as-a-Service company, is announcing a new customer relationship with Splash Financial, the online lending platform that democratizes access to loan offers. As a new customer, Splash is using FairPlay to ensure the fairness of the underwriting and pricing algorithms that power its Student and Personal loan programs.
“Our mission at Splash is to make people more powerful than their debt,” said founder and CEO Steve Muszynski. “FairPlay helps us achieve this by increasing access to life-changing loans. We love working with mission-aligned companies, and we’re excited to partner with FairPlay to advance solutions that create a more equitable world for everyone.”
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For nearly a decade, Splash has served as a leading digital lending platform, helping borrowers shop and compare financial products from a network of credit unions and bank partners. The company provides personal loans, in-school loans, student loan refinancing and medical school loan refinancing through a frictionless process that puts people first.
Founded in 2020, FairPlay works with financial services companies to identify blind spots in their algorithms and provide “second-looks” that safely increase approval rates and access to credit. The company’s products are designed to drive growth, reduce risk and keep pace with ever-evolving regulatory requirements.
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“Splash Financial is a pioneer in the fintech industry – we’re delighted to assist them in the deployment of technologies that help a wide-range of consumers finance some of the important decisions in their lives,” said FairPlay founder and CEO Kareem Saleh. “With interest rates surging, a recession looming and regulatory policies changing by the day, lenders need fairness solutions that are as sophisticated and flexible as the systems powering their decisions. Our fairness-as-a-service solutions are designed to help lenders find growth, reduce risk and enhance customer satisfaction in a challenging market.”
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