Renaud Laplanche, one of the first fintech disruptors, is launching an unusual type of credit product at Upgrade, his new company, that is a cross between a credit card and an unsecured loan.
A thorough process for approving experiments with artificial intelligence, clear philosophical principles and diverse human involvement are some of the ways BofA says it's working to ensure AI does no harm.
Melissa Koide, co-founder and CEO of FinRegLab, analyzed loan data from six lenders that use cash-flow data in their underwriting. She shares what she found.
The bank has been deploying artificial intelligence in every business line, conducting research to find out what consumers think about the technology, and holding a roundtable with experts to define "responsible" AI.
Credit decisions were a natural place to start with artificial intelligence, but now banks and credit unions are taking the technology to all parts of their businesses.
