AI solution FairPlay and Splash Financial are teaming up to offer unbiased loan decisioning to the digital lending platform’s network of bank and credit union partners for student and personal loans.

Cloud-based FairPlay uses API integration to detect biases within decisioning including pricing, disadvantaged groups and recent decisions that lead to loans being declined, Kareem Saleh, chief executive of Los Angeles-based FairPlay, told Bank Automation News.

“What we do is make software that helps you assess your decisioning systems for bias, then turn them to be fairer,” Saleh said, noting that following integration, FairPlay automates the re-underwriting of declined decisions based on the AI findings.

Cleveland-based Splash Financial, backed by Citi Ventures, CMFG Ventures and Northwestern Mutual Future Ventures, has a network of banks and credit unions including partnerships with First Tech Federal Credit Union, First Fed Bank and Bethpage Federal Credit Union, according to the Splash Financial website.

“[Banks] want to make sure that loans they are participating in are being fairly made, especially given the use of more advanced AI technology and big data,” he said. “The loans [Splash] sells essentially come with reporting that reflects the fairness of these loans.”

Splash Financial has raised $70 million in venture capital, according to a company release.

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