Navigating Financial Uncertainty: Lessons from the SVB Collapse on Effective Risk Management
The recent collapse of Silicon Valley Bank (SVB) has brought the importance of risk management to the forefront of the financial industry. As one of the largest lenders in the start-up ecosystem, SVB’s collapse highlights the importance of dynamic and robust risk management strategies in maintaining financial stability and, thus, the avoidance of similar disasters […]
Top Tips for Data Security
The success of companies in the 21st-century depends on the ability to mitigate data breaches, proactively tend to privacy risks, and manage both compliance and cybersecurity fundamentals that secure customer data. Companies that offer financial services handle large amounts of highly sensitive financial and personal information, making them more vulnerable to cyberattacks. The push for […]
How Explainable AI Looks to Overcome AI’s Greatest Challenges
With the proliferation of artificial intelligence (AI) technologies in different financial and IT industries, AI’s potential has only increased. As AI tools become more advanced, there is an increased possibility that most of the decision-making computations are done in a “black-box” with no human explainability. Explainability is the key to customer trust, especially in the […]
Our Bet on Alternative Data for Credit Scoring
Recently five federal regulators issued a joint statement advocating the use of alternative data in credit scoring. Ultimately, the statement was to expand access to credit and provide more favourable terms to borrowers. At Trust Science we’ve been firm believers in the use of alternative data to not only serve the underbanked but also give lenders […]
3 Sources of Unfair Credit Scores in Credit and Lending Decisions
How do you know if you’ve produced a fair or unfair credit score? Unfair credit scores hurt your business and your customers. In this post we’ll explore 3 sources that may result in unfair credit scores when using AI and machine learning credit scoring prediction models in your credit and lending decisions. Credit scoring helps […]
