Empowered Underwriting with Explainable AI
Today, financial services companies leave money on the table by restricting themselves to simple underwriting models. With AI loan underwriting insights, businesses can save millions of dollars by reducing the number of bad loans, finding new customers, and increasing revenue. Explainable AI is the way forward: with visibility and insights into the ‘why’ behind underwriting decisions, teams ensure underwriting models produce responsible results. Learn more about understanding underwriting through AI below.
Deploy efficiently and produce human-readable explanations accessible to users, regulators and risk managers.
Reduce bad loans. Save millions of dollars by increasing the accuracy of models
Use explanations to make end-user recommendations on how to change their
Use of advanced AI is limited due to the black-box nature of AI models. This results in bias and unfairness risks.
Model Risk Managers have limited tools to review AI models and effectively assess the risks - why are there errors?
Limited transparency for end users on corrective actions. How can we enable more people to get loans?