<p><span>The Monetary Authority of Singapore (MAS) today 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.</span><mas-footnote id="1-footnote-1" group="1" class="ts:xs"> </mas-footnote><span>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. The Veritas Consortium,</span><mas-footnote id="2-footnote-2" group="2" class="ts:xs"> </mas-footnote><span>comprising MAS and industry partners, also published whitepapers on the fairness assessment methodology and the <a class="mas-link" target="_blank" href="https://github.com/veritas-project/phase1/"><span class="mas-link__text">open source code</span> <span class="mas-icon mas-glyphs-external--link"> </span></a> of these two use cases.</span></p>