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Jamie Twiss, CEO of Carrington Labs – Interview Series
- Jamie Twiss is the CEO of Carrington Labs, specializing in AI-powered credit risk scoring and lending solutions.
- Carrington Labs' risk scoring system differs by using a larger dataset, AI techniques, and tailored scores.
- They integrate open banking transaction data to assess creditworthiness and identify predictors like spending habits.
- To mitigate bias, Carrington Labs excludes protected-class data, ensures explainability, and conducts bias testing.
- The AI models help democratize lending by expanding access to fair credit for underserved populations.
- Regulatory bodies play a crucial role in overseeing the development and deployment of AI-powered lending solutions.
- Carrington Labs' selection into the Mastercard Start Path Program accelerates their US expansion with advice and introductions.
- Insights from Beforepay loans shape Carrington Labs' AI models, enhancing speed and effectiveness.
- AI in lending is expected to evolve significantly over the next decade, transforming the industry with big-data-powered risk models.
- Carrington Labs aims to revolutionize lending with efficient AI models and automation, enabling faster, more effective processes.
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