Financial Services firms turn to data ethics to manage digital risks

In 2019, the California-based lender loanDepot made headlines when it managed to offer an end-to-end digital mortgage that closed in just 8 days, more than 80 percent faster than the 45-day industry average.Digital solutions enable this kind of agility at scale, but individual and societal risks can also scale in digital systems. For instance, if the training of the loan approval model utilized historical data that exhibited lower loan amounts for women and minority groups, the risk of that d
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