Achroma in Action.
Achroma is a fintech startup that eliminates discrimination from financial processes. We use proprietary AI-based de-identification and scoring technology to remove the possibility of explicit and implicit bias based on race, ethnicity, religion, gender or orientation in applications for loans, credit cards, insurance and other financial instruments.
“Achroma is a commitment to ethics, equity and progress and a promise to communities
that institutions are doing their part to eliminate systemic bias.”
Why the world needs Achroma.
For people of color, banks are shutting the door to homeownership
Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts.
Reveal – February 15, 2018
Black, Latino mortgage rejection rates still high
More than two decades after a landmark study showed a pattern of lending discrimination against minorities, black and Latino borrowers in Massachusetts continue to be rejected for home mortgages at much higher rates than whites, according to a new analysis of loan records.
Globe Correspondent – December 22, 2015
Researchers Combat Gender and Racial Bias in Artificial Intelligence
Companies use AI to predict everything from the credit worthiness to preferred cancer treatment. The technology has blind spots that particularly affect women and minorities.