An artificial intelligence fintech firm is aiming to eradicate racism from lending practices. Stratyfy, a person of color-ran firm that works with AI to “streamline equitable credit underwriting decisions” is partnering with Beneficial State Foundation’s Underwriting for Racial Justice program (URJ) to provide 20 credit lenders with the firm’s technology to decrease racial bias when determining credit risk. The co-founder and CEO of Stratyfy says “The innovative lenders selected for the URJ program are redefining how people of color in their communities are able to access credit.” By banding together, the partners are aiming to achieve a level of equity amongst people of color seeking out credit at lending firms. YPulse research shows that racism is one of the top concerns amongst Gen Z and Millennials, so this partnership will likely be a step in the right direction towards equality for POC consumers in these gens’ eyes. (Essence)
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