Technical briefing by Kareem Saleh and Rae Hanley
Overview of Briefing
Kareem Saleh, founder and CEO, opens up the demo with a brief introduction about Fairplay, the world’s first fairness-as-a-service.
We jump to the Fairplay website, where users go to access their accounts. Users can login using a major cloud environment or with an email.
The user is prompted with a question about what financial product they are analyzing. For this demo, we are doing a non-mortgage. Then, the user is asked to import all their data, including inflows and outflows. Immediately we see what functions are being performed based on the data the user provided.
Kareem Saleh continues to explain each function.
First we get a closer look at customer composition. Top 10 banks said it took them 9 months to implement this type of function.
Next we dive into proxy detection. Here, every variable used by the algorithm is plotted. Kareem dives into a couple of the variables and explains the use case for this information.
Kareem then dives into fair lending analysis. This is where we can see the fairness of the overall underwriting decision. The system is able to create a summary of the potential bias that is detected. This analysis can be done for every protected class.
There are many definitions of fairness, Kareem dives into what definition of fairness they use to ensure the best outcome for the customer.
We then move into seeing what variables are driving different outcomes of any protected class. For this demo, Kareem shows the drivers of disparity for black applicants.
Next we see the map function on this tab. Here we see a map that highlights the level of approval ratings, for a selected group, across the United States. These levels can be filtered by company, state, and county.
Kareem shows how simple it is to export this analysis out of the Fairplay dashboard.
The next function to highlight is fairness optimizer. This allows a user to adjust the amount of money at risk. Along with this, the user can see the difference between just using credit scores, their current model, and the proposed new Fairplay model.
Below the chart, the details of the current and new model are highlighted to show differences in number of loans, rate, profit, and overall fairness.Further details can be found about the current and new model as well.
The last function Kareem dives into is second look.