Q: What type of data does BeeEye use from the Web?
A: BeeEye’s data enrichment policy is to use only publicly available information from open government, municipal, and local state agencies. When it comes to other portals across the web, BeeEye only uses data that is readily available in the public domain.
Q: Will BeeEye have access to my customer information?
A: No, BeeEye’s unique enterprise technology is deployed on-premise behind the bank/lender’s firewall. The BeeEye Scoring Engine (SE) does the data enrichment and calculates the EyeOnRisk™ score automatically inside the bank/lender’s data-center.
Q: Does BeeEye provide visibility into the EyeOnRisk score?
A: Yes, BeeEye will provide the bank/lender with a EyeOnRisk™ model explanation document that shows the components, weighting, and make up of their specific EyeOnRisk™ score. BeeEye can also provide transparency on a per record/customer basis.
Q: Is BeeEye GDPR compliant?
A: Yes. BeeEye does not retain any customer specific identifiable information (PII). The consumers data is kept on the BeeEye Scoring Engine which is managed within the bank/lender’s data-center.
Q: Are you able to use the EyeOnRisk™ score in the USA?
A: The EyeOnRisk™ score is FCRA compliant as it can be used as a second screen for applicants/customers which have been rejected by the bank/lender’s initial credit scorecard/model. The EyeOnRisk™ provides additional insight to allow the bank/lender to accept applicants who in the past were rejected or lost.
Q: My bank/lender operates in many different states with different regulations/compliance, can the EyeOnRisk™ score be customized per individual state?
A: The EyeOnRisk™ score and machine learning methodology is customized and optimized for each bank/lender, therefore it can be customized based on each state/region regulations.
Q: What steps does BeeEye take to make sure that the EyeOnRisk™ does not discriminate on age, gender, ethnicity, religion, marital status, or national origin?
A: During the training and testing phase of the EyeOnRisk™ score, BeeEye makes sure that we assess whether or not our approach to understanding an individual’s personality deferentially effects individuals based on any of the factors laid out in the ECOA or FHA. Fair lending is very important to BeeEye, in fact, our whole purpose is to level the playing field to those consumers challenged by traditional methods. Our analysis shows that EyeOnRisk™ does not bias against individuals based on their age, gender, ethnicity, religion, marital status, or national origin.