For Evan Chrapko, there’s no such thing as a limit to the creation of goodwill. “We strive to pay it forward on numerous fronts. My team—Trust Scientists!—and customers are treated like family so that our long-term execution is sustainable and so that we leave the world a better place.” Evan’s compassionate attitude plus his hard-working spirit led him to pursue his mission to allow deserving people to get what they deserve. He founded Trust Science® to expedite and enhance all manner of personal and business transactions. His first go-to-market is to help lenders get better insights about borrowers with fair, highly-predictive credit scores, achieved via AI/ML.

Enabling accurate credit scoring

There has been increasing inequity in the lending industry because incumbent credit scoring solutions are being eclipsed by the rapidly evolving markets, data sources and changing consumer behavior. Importantly, solutions also had to work “down market”, where trillions of dollars in the global economy were being misallocated (or not even allocated at all), but where the conventional bureaus feared to tread. Their capabilities were largely developed for prime and super-prime borrowers, and not sub-prime borrowers or so-called No Hits or Thin Files. “Trying to serve marginalized or underbanked people using the same data and/or the same computer science and data science techniques that the big, mainframe-class players have been monetizing for over half a century seemed like a recipe for disaster, given that AI, including Explainable AI, was no longer confined to academia,” shares Evan. Taking up this challenge, Trust Science harnesses alternative data and brings it into a platform that “operationalizes” the automatic, legally compliant application of AI to that data to create alternative credit scores. The company calls these highly predictive credit scores Six°Scores™.

“The unique value of AI in lending is the ability to analyze substantially more data at a substantially faster rate, in a highly consistent and compliant way. This gives rise to alternative credit reporting that enables more accurate credit scoring of more people, especially as it relates to financially-stressed, underbanked, or underserved demographics.”

Determining true creditworthiness

Trust Science’s flagship products, Credit Bureau +™ and Credit Bureau 2.0® are SaaS solutions that leverage the ML subset of AI to deliver unbiased credit scoring in an explainable way. By boosting lift 15 percent or more—even without changing anything else, to start with—Trust Science’s lenders can see more loan applicants’ true creditworthiness. “We enable lenders to find the “Invisible Prime™” borrowers—the people who used to be wrongly scored (too low) and systematically excluded by old scorecarding and regression-based computer science as applied to very limited data sets,” explains Evan. Credit Bureau 2.0/+ harnesses AI in a productized platform that leads to increased financial inclusivity, helping deserving people get the loans they deserve.

For instance, by implementing Credit Bureau 2.0®, lenders in the real world have enjoyed up to two hundred times ROI, along with reduced risks/defaults, increased originations, and streamlined/automated decision-making process. This includes the ability to deliver strategy-consistent answers across the lifecycle of a loan, from screening leads in a marketing campaign to adjudicating applications, and supplying recommended loan amounts, maximum loan amounts, and recommended interest rates. Unlike its competitors, as an intelligent platform with a bi-directional (“conversational”) architecture, Credit Bureau 2.0 dramatically enhances any lender’s workflow and gives them the ability to become extremely nimble in an increasingly volatile business environment.

Finally, with an eye on ever-tightening privacy laws all around the world, and a vision to be a global solution, this service has the option for lenders to engage with their borrowers to supply fully consented, “permissioned” data via their mobile or other device. “We bring a whole new and respectful relationship to the very basic function of acquiring data and properly scoring people who deserve to be well treated,” points out Evan.

Evan says that persistence and perspective allow him to thrive in adversity and move at an extremely fast velocity. “Speed and quality of execution is a forcing function to keep you focused on solving the most important problems as they come up. From that, goodwill and ‘mission success’ flow naturally,” he ends.