Achroma in Action.
Achroma is a consumer-centered mortgage origination platform that aggregates loan products from top regional banks. Utilizing AI and blockchain to ensure personalized consumer service, fair decisioning, and ultimate data privacy and protection.
Consumers get choice in the marketplace with no additional time and effort, unprecedented transparency, and world-class loan application preparation and coaching.
Banks benefit from the reach and access of a 24/7 digital loan officer and a technology platform that competes with leading mortgage players. Achroma provides access to new sales channels and geographies; verified, vetted and clean mortgage packages; increased fair lending, compliance and CRA benefits.
Top-line Growth
Opened access to profitable, underserved and systematically ignored markets.
Cost Savings
Reduced risk from unfairly favored loans. Protection from investigations, litigation and judgments. Reduced cost and time associated with internal audits and monitoring.
Brand Image
Implementing Achroma creates founded PR opportunities, repaired brand image, and improved overall brand equity - signaling a strong stance on fairness and consumer privacy.
“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.