Technology

FINREGLAB ANNOUNCES NEW RESEARCH TO EVALUATE INCLUSION IMPACTS OF MACHINE LEARNING CREDIT MODELS WITH AND WITHOUT ALTERNATIVE DATA

Published

7 months ago

May 29, 2024

It will also co-chair an OCC technology working group to further address inclusion barriers in financial services

WASHINGTON, May 29, 2024 /PRNewswire/ — FinRegLab announced that it is conducting new empirical research to evaluate the inclusion impact of machine learning credit models, including those built with bank account data as well as traditional credit report information. The organization has also been invited by the Office of the Comptroller of the Currency (OCC) to co-chair a new Technology Working Group within the OCC’s Project REACh initiative.

While large banks and fintechs are increasingly adopting machine learning techniques and cash-flow data sources for credit underwriting, no publicly available research directly compares their separate and combined effects on lending models’ predictiveness, fairness, and inclusion. This unique research will build on FinRegLab’s prior evaluations of the potential for cash-flow data to increase financial inclusion and explainability and fairness tools to help manage machine learning credit models by assessing the financial inclusion benefits of using machine learning models with and without bank account data.

“Machine learning analytics combined with more representative data have the potential to significantly expand access to financial products and services that improve people’s financial wellbeing, but guardrails for responsible use are critical to protect historically underserved populations as artificial intelligence transforms the financial sector,” said FinRegLab CEO Melissa Koide. “I am thrilled to announce these new initiatives to further our mission of filling knowledge gaps and creating platforms for stakeholders to discuss critical issues to spread best practices and increase consumer benefits from these innovations.”

Credit plays a critical role in helping households bridge short-term financial gaps and make long-term investments in homes, reliable transportation, and small business formation. Yet millions of consumers and entrepreneurs—including disproportionate numbers of Black, Hispanic, and low-income applicants—struggle to access affordable credit because they are difficult to assess using traditional data sources and analytical techniques.

In addition to the empirical research, FinRegLab has been invited by the Office of the Comptroller of the Currency to co-chair the new Technology Working Group as part of its Project REACh (Roundtable for Economic Access and Change) initiative. The initiative brings together leaders from banks, community and civil rights organizations, and technology firms to facilitate solutions to address barriers that prevent full, equal, and fair participation in the nation’s economy.

The Technology Working Group will focus on machine learning, artificial intelligence, and digitalization topics. Among other projects, the group will seek to build a shared understanding of safe, responsible, and inclusive practices in deploying machine learning in credit underwriting. The working group will build on FinRegLab’s deep engagement with industry, advocates, and regulators to analyze policy issues such as explainability, fairness, and model risk management when lenders use new types of data and more complex, or even “black box,” analytic techniques.

About FinRegLab
FinRegLab is an independent, nonprofit research organization that conducts research and experiments with new technologies and data to drive the financial sector toward a responsible and inclusive marketplace. We also facilitate discourse across the financial ecosystem to inform public policy and market practices.

Contact:
Kelly Cochran
FinRegLab
communications@finreglab.org

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SOURCE FinRegLab

Technology

SP Manufacturing Expands with New Malaysia Plant, Acquires Ideal Jacobs

Published

19 minutes ago

December 26, 2024

SINGAPORE, Dec. 25, 2024 /PRNewswire/ — SP Manufacturing (SPM), a leader in Electronic Manufacturing Services (EMS), is strengthening its global presence with two major moves: opening a new manufacturing facility in Senai, Malaysia, and successfully acquiring Ideal Jacobs Corporation.

Malaysia Expansion: Enhancing Operations and Supporting Growth

The state-of-the-art Senai facility, which opened in October, will enhance the company’s operational resilience to meet growing customer demands in medical devices, industrial machinery, and automotive electronics.

Equipped with advanced automation and strict quality controls, the factory enables SPM to deliver mission-critical products with precision and reliability while supporting Malaysia’s vision of becoming a leader in high-value, high-tech industries.

“This facility reflects our commitment to serving our global customers while participating in a key location of the global supply chain network,” said Jackson Tan, Global Business Development Director of SP Manufacturing. The plant’s capabilities include cable harness assembly, PCB assembly, and box-build solutions.

The Senai facility is equipped with comprehensive manufacturing capabilities, including:

Functional testingIn-circuit testing and automated optical inspection (AOI)State-of-the-art cleaning processesRigorous inspection protocolsRapid prototyping and expert assembly processes

Ideal Jacobs Acquisition: Expanding Capabilities

In a parallel move, SPM also acquired Ideal Jacobs Corporation, which is known for its human-machine interface, printed electronics and die-cut solutions. The move will expand SPM’s engineering capabilities and provide access to a diversified client portfolio, including leading names in the medical, industrial, semiconductor, and telecommunications sectors.

Comprehensive Design Support in the U.S.

SPM continues to provide comprehensive engineering and design services for its U.S. customers using industry-standard software for PCB and electrical design. These services help clients with their new product introductions (NPI), early supplier involvement (ESI), and DFx processes, optimising costs and reducing time to market.

Founded in 2000 and headquartered in Singapore, SP Manufacturing has built its reputation serving mission-critical industries like medical, automotive, and aerospace. The company specialises in cable harnesses, PCB assemblies, and box-build products.

For more information about SP Manufacturing’s latest developments, visit www.sp-manufacturing.com or follow us on LinkedIn.

About SP Manufacturing

SP Manufacturing (SPM), founded in 2000 and headquartered in Singapore, has established itself as a leader in the EMS sector. Serving mission-critical industries such as industrial, medical, automotive, and aerospace, SPM excels in providing comprehensive manufacturing solutions from design to full production, specialising in high-quality cable harnesses, PCB assemblies, and box-build products.

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SOURCE SP Manufacturing

Technology

Casect Launches AI-Enhanced Case Log Platform for Surgeons

Published

3 hours ago

December 25, 2024

SHERIDAN, Wyo., Dec 25, 2024 /PRNewswire/ — Casect, LLC, a medical education technology company, announces the launch of an innovative platform to revolutionize how surgeons and medical professionals document cases. Casect empowers users to track surgical Cases, refine Techniques, organize References, and collaborate with Colleagues — all within a user-friendly, HIPAA-compliant system.

Say goodbye to inefficient notebooks, spreadsheets, and outdated case logs. Casect offers a modern, comprehensive solution tailored to the surgical community, enabling professionals to focus on growth, learning, and excellence in patient care.

A New Era of AI-Powered Case Tracking

Time is critical for surgeons, yet valuable insights are often lost due to outdated documentation methods like handwritten notes or spreadsheets. Casect’s HIPAA-compliant platform, with a no data retention policy for protected health information, uses optional AI to pre-fill case details, analyze uploads, and organize data seamlessly. This transforms hours of documentation into minutes, giving surgeons more time to refine skills and improve patient care.

Casect addresses an unmet need in medical education, residency, fellowship, credentialing, and research. It enables detailed documentation of Cases, Techniques, and References, accessible from any computer or mobile device with a subscription.

Key Features

AI-Assisted Case Entry (Optional): Streamline input with AI or manually add details; supports spreadsheet uploads.Customizable Fields: Track cases your way.Refine Techniques: Create, document, and improve surgical techniques.Multimedia Support: Upload, organize, and access photos, videos, and documents.Organize References: Annotate, markup, and securely store documents and literature.Collaborate Seamlessly: Share cases and techniques effortlessly with colleagues.Analyze and Export: Generate insights through charts or export data as CSV.HIPAA-Compliant: Designed to meet strict HIPAA standards, ensuring the security and confidentiality of protected health information.

Additional Resources

Stay Informed: Unlock a 30-day free trial by signing up for the latest updates on Casect’s launch.Learn More: Discover why Casect is the preferred choice for surgeons at Why Casect?Explore Features: View the Full Feature List.Stay Connected: Follow us on X, Facebook, Instagram, and LinkedIn for updates, tips, and stories. Join the conversation with #MedEd, #CaseLog, and #Casect.

About Casect

Born from decades of tracking cases with stickers, notes, and spreadsheets, Casect empowers surgeons with efficient, comprehensive tools to document cases, collaborate, and drive professional growth. By simplifying the case log, Casect helps surgeons identify trends, enhance skills, and improve patient outcomes. For more information, visit www.casect.com or follow us on X, Facebook, Instagram, and LinkedIn @CasectLLC.

CONTACT: support@casect.com

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SOURCE Casect, LLC

Technology

Interact Marketing Expands AI Marketing Offerings for 2025

Published

3 hours ago

December 25, 2024

Campaign Optimization, Video, and Content lead the pack.

NEWBURGH, N.Y., Dec. 25, 2024 /PRNewswire-PRWeb/ — Interact Marketing, a leading national digital marketing agency in Newburgh, is thrilled to announce the expansion of its AI-powered marketing solutions for 2025. With a focus on cutting-edge campaign optimization, AI-enhanced video production, and content generation, Interact Marketing continues to push the boundaries of what’s possible in digital marketing innovation.

“As AI technology evolves, so do our strategies,” said Joe Beccalori, CEO of Interact Marketing. “Our expanded AI offerings represent a commitment to helping businesses thrive in an increasingly competitive digital landscape, especially search.”

Revolutionizing Campaign Optimization
Leveraging advanced machine learning algorithms, Interact Marketing’s AI tools now provide unprecedented insights into campaign performance. These enhancements enable businesses to predict customer behaviors, optimize ad placements in real-time, and achieve higher ROI through precise targeting and budget allocation.

AI-Driven Video Production
Video remains a cornerstone of digital engagement, and Interact Marketing is leading the charge with AI-assisted video production. The latest offerings include automated editing, personalized video content for targeted audiences, and AI-powered analytics to measure video effectiveness. These tools empower businesses to create dynamic video content that captivates and converts audiences.

Elevating Content Creation
In 2025, content reigns supreme, and Interact Marketing is ensuring clients stay ahead with AI-driven content solutions. From blog posts and social media updates to comprehensive SEO-optimized web content, AI technology enables faster production of high-quality, engaging material. The result is content that drives traffic, enhances brand visibility, and resonates with target audiences. Rigid human editing and content-humanization is also included to reduce over dependence on AI and protect against future algorithm decisions which may penalize pure AI content.

A Commitment to Innovation
“As AI technology evolves, so do our strategies,” said Joe Beccalori, CEO of Interact Marketing. “Our expanded AI offerings represent a commitment to helping businesses thrive in an increasingly competitive digital landscape, especially search. By harnessing the power of AI, we aim to deliver smarter, faster, and more impactful marketing solutions for our clients.”

Media Contact

Joe Beccalori, Interact Marketing, 845-567-7703, press@interactmarketing.com, www.InteractMarketing.com

View original content to download multimedia:https://www.prweb.com/releases/interact-marketing-expands-ai-marketing-offerings-for-2025-302338570.html

SOURCE Interact Marketing