Predictive modeling in a disrupted environment

Concurrent with creating a once-in-a-century health crisis, COVID-19 has driven dramatic shifts in consumer spending and other financial activity, sounding an alarm bell for deeper visibility to credit risk. Beyond the pandemic, social justice, equality, and corporate responsibility have entered a new era, with many organizations renewing their commitment to ensure fairness and transparency in their interactions with consumers. In this Q&A, Chris Frothinger, Senior Global Solutions Architect for FICO, explains how scorecards, machine learning (ML), and explainable AI (xAI) capabilities in FICO® Analytics Workbench™ can help credit risk professionals to achieve two key objectives: gain deeper insights into credit risk, and ensure that each decision made is ethical, explainable, and supports the responsible use of AI.