MENLO PARK, Calif., April 1, 2024 /PRNewswire/ -- Oscilar, the AI risk and fraud management company co-founded by Confluent Co-founder Neha Narkhede and former Meta engineering executive Sachin Kulkarni, is announcing a partnership with FairPlay, the world's first Fairness-as-a-Service™ company.
The partnership will enable Oscilar clients to access FairPlay's fairness analytics tools, from assessing bias in AI credit models to monitoring the fairness outcomes associated with credit decisions to automating key aspects of regulatory and model validation reporting.
The partnership represents a joining of industry firsts: Oscilar as the first generative AI and ML powered solution for risk decisioning, and FairPlay as the first Fairness-as-a-Service solution in financial services. This combination furthers Oscilar's ability to provide greater security and efficiency in adopting AI for consumer credit decisioning.
Founded in 2020, FairPlay works with financial services companies to provide real-time fairness testing, monitoring and optimization solutions designed to drive growth, reduce risk, keep pace with ever-evolving regulatory requirements, and improve positive outcomes for consumers.
"Oscilar is a leader in the use of generative AI in financial services, and we needed an equally innovative partner to help us adopt new fairness solutions safely and responsibly," said Oscilar Co-Founder and Chief Technology Officer Sachin Kulkarni. "Working with FairPlay was an easy choice. By integrating FairPlay, Oscilar's clients can build and host their models with fair lending compliance native to our platform."
"Successful lenders need next-generation credit decisioning software to unlock organizational agility and separate themselves from the competition," said Kareem Saleh, founder and CEO of FairPlay. "Oscilar's easy-to-use no-code UI means that lenders can adjust their credit policies within hours, rather than days or months. FairPlay's tools now add additional value: the ability to remain fair and compliant while also moving quickly."
For more information about FairPlay, visit FairPlay.ai. For more information about Oscilar, visit Oscilar.com.
About FairPlay AI
FairPlay AI is the world's first Fairness-as-a-Service solution helping financial companies mitigate algorithmic bias, without increasing risk. Built by some of the world's foremost leaders in AI, FairPlay's technology serves financial institutions, lenders, insurance carriers, marketers, and others, identifying blind spots in their algorithms and providing automated "second-looks" to improve decisioning systems. FairPlay's tools help lenders identify more good loans and increase the fairness of their portfolios, resulting in higher profits and fairer portfolios all without higher risk. For more information about FairPlay and its products, visit FairPlay.ai.
About Oscilar
Oscilar was founded in 2021 by Confluent Co-Founder Neha Narkhede and former Facebook engineering executive Sachin Kulkarni. The company, composed of a team that created advanced risk management platforms at Apple, Uber, and LinkedIn, has rapidly gained traction since emerging from stealth in April. With $20 million in funding from the company's two co-founders, Oscilar has attracted dozens of fintech customers, including Flexcar, Super, Finsync, Slope and more. Learn more about Oscilar and its products by visiting Oscilar.com.
