Open Finance enables individuals to share their financial data, which helps financial institutions to originate new credit opportunities for the underserved and improve the financial health of the entire society.
The key to such an opportunity is Open Finance and by leveraging AI, but such AI systems must be developed using Responsible AI to ensure auditability and avoid potential bias.
In this talk, AI software leader FICO and Brazilian fintech Belvo will discuss their work on an innovative Open Finance credit score, and cover:
- The status of Open Finance in Brazil and data availability ;
- Need for Responsible AI that is robust, explainable, ethical, and auditable;
- Need for interpretable machine learning to address the ‘black box’ of machine learning ;
- Using blockchain in AI model development to ensure auditability