Open Banking and Explainable AI at the Lending Summit and Open Banking Expo
On Tuesday the 12th of November we attended the Lending Summit, an event hosted by Credit Strategy in London. The event, of which Equifax was a sponsor, covered a variety of topics across three core streams: Alternative Finance, Commercial Finance and Mortgage Lending. As such, we took the opportunity to present on two subjects that are increasingly important for us - Open Banking and AI.
Karl-Magnus Wadsack, Strategic Alliances Director, co-presented "Bigger data, smaller risk" with Emma Steeley, CEO of our partner AccountScore, who - we are delighted to announce - also came away from the event with an award for Business Leader of the Year! No small achievement, and a testament to the calibre of our partners and the solutions that we're working on together.
On the subject of AI, John Power, VP Strategic Client Engagement, International D & A, took to the stage in the afternoon to discuss the role AI can play for lenders, why explainability is key, and covered some of the great work our D&A function has done - not least in the creation of NeuroDecision, Equifax's own explainable AI solution.
We teamed with AccountScore once again on Wednesday at the Open Banking Expo, a short distance from our London office in St Paul's - where our resident Open Banking expert, Dan Weaver guided the audience through the benefits of our new Financial Health Index, which alongside traditional credit scores offers a powerful combination of data for our clients to help them make better credit decisions.
This event saw over 500 delegates come together to develop a greater understanding of the many use cases of Open Banking and Equifax sponsored a stream at the event, where Karl-Magnus was kept busy for a second day running as stream host, introducing the speakers and chairing a panel of experts discussing "global developments in an open finance world”.
Together both events over two days provided a fantastic opportunity to meet new and existing clients face-to-face and reinforce the value we can add to their businesses by helping them implement a variety of solutions.