FairPlay was recently selected for Mastercard’s Start Path New Networks program, an initiative designed to accelerate startups that are redefining financial services through technology. As artificial intelligence (AI) increasingly influences lending decisions, risk assessments, and compliance enforcement, FairPlay’s inclusion in this prestigious program underscores the growing need for fairness in AI-driven finance. Without the right safeguards, AI models risk perpetuating biases, limiting financial access for underserved communities.
By joining Start Path, FairPlay is now part of an elite cohort of eight fintech pioneers, including Aazzur, Astrada, Carrington Labs, FutureBank, Impactica, Ozone API, and Trudenty, all working toward democratizing financial systems. This collaboration positions FairPlay at the forefront of AI fairness innovation, ensuring financial institutions adopt more transparent and equitable AI-driven processes – a mission that CEO Kareem Saleh believes will be critical in shaping the future of AI fairness in finance.
As part of the program, FairPlay will work closely with Mastercard’s financial network to scale its AI fairness solutions, refine machine learning models, and support financial institutions in improving transparency, accuracy, and equity in AI-driven financial decisions. With regulatory scrutiny on AI fairness intensifying, responsible AI is no longer optional – it is essential. In this exclusive interview later in this article, FairPlay CEO Kareem Saleh shares his insights on the challenges financial institutions face, the risks of biased AI models, and how proactive lenders can turn compliance into a competitive advantage.
Mastercard’s Start Path and FairPlay’s Mission to Make AI Lending Fair
Mastercard’s Start Path program is a globally recognized accelerator that supports fintech startups in scaling, forming strategic partnerships, and integrating into Mastercard’s financial ecosystem. As part of its New Networks cohort, FairPlay joins a select group of companies using AI, open banking, and alternative data to enhance financial inclusion and transparency. This collaboration reinforces FairPlay’s mission to eliminate bias in AI-driven lending, helping financial institutions expand their reach responsibly while ensuring fairness in decision-making.
FairPlay is the first “Fairness-as-a-Service” platform, enabling lenders to develop AI systems that are both accurate and equitable. Its fairness infrastructure includes tools for detecting bias in underwriting, monitoring AI models in real-time, and reassessing declined applications to ensure fair decision-making. By improving AI-driven lending outcomes, FairPlay helps financial institutions meet regulatory standards, drive sustainable growth, and expand access to credit for underserved communities.
Exclusive Interview with Kareem Saleh, CEO of FairPlay
To gain deeper insights into what this partnership means for the industry, Techish spoke with Kareem Saleh, CEO of FairPlay, about AI fairness, regulatory challenges, and the future of inclusive financial decision-making.
FairPlay’s Selection for Mastercard’s Start Path Program
Q: Mastercard’s Start Path program is highly competitive. Why do you think FairPlay was chosen, and how does this partnership accelerate your mission in ways that weren’t possible before?
Kareem Saleh: “Open banking and AI-driven lending are reshaping financial services, but fairness must be part of that transformation. Lenders using AI must ensure their models expand access to credit while maintaining profitability and compliance. FairPlay provides fairness-as-a-service solutions that integrate with cash flow underwriting, helping lenders identify missed opportunities and responsibly grow their portfolios. Mastercard’s Start Path program gives us the platform to scale this approach globally and shape the next era of lending.”
The Problem of AI Bias in Financial Services
Q: AI-driven financial decision-making is often criticized for reinforcing biases. What do financial institutions get wrong about AI fairness today?
Kareem Saleh: “Many lenders assume AI is inherently neutral—but that’s not true. AI models inherit historical biases unless actively corrected. Most financial institutions lack effective tools to uncover and address these biases. At FairPlay, we build technical solutions for non-technical users—lawyers, compliance officers, and model validators—so they can identify and fix bias in AI-driven decisions. This empowers organizations to choose the best algorithm for their business needs in a rigorous and cost-efficient way.”
Ensuring Fairness Without Increasing Risk
Q: AI models rely on historical data, which often reflects systemic inequalities. How does FairPlay ensure that ‘de-biasing’ improves fairness without distorting legitimate risk assessments?
Kareem Saleh: “One of our key innovations is helping lenders evaluate the potential performance of applicants who were previously declined. We analyze whether these borrowers—if given a chance—would have repaid successfully. This allows lenders to responsibly expand access to credit while staying within their risk tolerance. Some lenders prefer to keep their existing AI models unchanged, so they use FairPlay’s second-look models to identify qualified borrowers their current algorithms might miss. This approach increases approval rates by 10%, take rates by 13%, and positive outcomes for historically underserved groups by 20%.”
Turning Compliance into a Competitive Advantage
Q: With growing regulatory scrutiny on AI decision-making, how are financial institutions responding? Are they proactive or still reactive?
Kareem Saleh: “The best institutions see this as an opportunity rather than a burden. They’re going on offense—using fairness tools to spot and acquire customers that competitors overlook. This shifts compliance from a cost center to a profit driver. We’ve seen this firsthand, working with top-tier banks and fintechs. Meanwhile, regulators are increasing oversight, especially in jurisdictions like Colorado, New York, California, and Massachusetts, where new AI fairness laws are emerging.”
Transparency in AI Lending Decisions
Q: Consumers are increasingly concerned about how AI models determine their loan eligibility. Do you believe they should have more transparency?
Kareem Saleh: “Absolutely. People are rightfully concerned about black-box algorithms making key financial decisions they don’t understand. There’s a push for lenders to disclose the variables influencing loan approvals, helping denied applicants understand what they need to improve. The challenge is presenting this information in a way that is actionable, rather than overwhelming. We work with lenders to create transparency frameworks that benefit both consumers and institutions.”
The Role of Open Banking in AI Fairness
Q: Open banking is often cited as a tool for financial inclusion. Do you believe better access to consumer data can help fix AI bias, or does it risk reinforcing existing inequalities?
Kareem Saleh: “Open banking and cash flow underwriting paint a more complete picture of a borrower’s ability and willingness to repay. This can help people who lack traditional credit histories get approved. But AI models will always have a bias risk—it’s inherent in any predictive system. The key is balancing the predictive power of alternative data while actively mitigating bias through proper oversight and fairness interventions.”
The Future of AI Fairness in Finance
Q: Looking ahead, what will be the primary forces shaping AI fairness in finance—regulations, consumer demand, or financial institutions’ strategic priorities?
Kareem Saleh: “It’s all three. Consumers are demanding fairness, financial institutions see it as a growth strategy, and regulators are stepping up oversight. AI fairness is no longer just about compliance—it’s an industry-wide expectation. We’re also entering an era of agentic AI, where autonomous systems make lending decisions. The question is: How do we govern these agents to ensure they operate in ways that are good for businesses, consumers, and society at large? Getting AI governance right will be one of the most important challenges in the coming years.”
Final Thoughts: The Future of AI-Driven Lending
FairPlay’s inclusion in Mastercard’s Start Path program marks a significant step toward making AI-driven finance more inclusive, aligning with Mastercard’s goal of democratizing access to financial services through responsible technology. As AI-driven finance grows, ensuring that technology benefits everyone – not just the privileged few – is critical.
Mastercard’s decision to include FairPlay in its accelerator program reinforces a crucial industry shift: AI fairness is now a foundational requirement for responsible and inclusive financial services.
As regulatory scrutiny intensifies and financial institutions seek new ways to expand their market, those prioritizing fairness will lead the future of AI-driven lending.
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