Monetary Authority of Singapore announces success of Veritas Initiative phase 1

The Monetary Authority of Singapore (MAS) announced the successful conclusion of the first phase of the Veritas initiative which saw the development of the fairness assessment methodology in credit risk scoring and customer marketing. These are the first two use cases to help financial institutions validate the fairness of their Artificial Intelligence and Data Analytics (AIDA) solutions according to the Fairness, Ethics, Accountability and Transparency (FEAT) principles.

For more information see the MAS press release.