Helene Stafferöd Westerlund

Helene Stafferöd Westerlund
Helene is CTO at Instantor and has a background as Technical Manager at Specops Software. She has also been development manager for the technical platform at the gaming company Betsson.
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Recent Posts

How Algorithmic Bias can Creep into Machine Learning

Apr 29, 2019 / by Helene Stafferöd Westerlund

Machine learning has been an incredible breakthrough in the past quarter-century. From diagnostic decisions in hospitals to loan approvals in banking, the conclusions made by machine learning algorithms have key implications on our personal lives, allowing us to process larger quantities of data faster than ever before.

While machine learning and associated artificial intelligence inarguably provide many benefits, unfortunately, they are also prone to error through biases, just like humans. Once we understand how algorithms are designed, we realise that these algorithms that we place so much trust in will sometimes get things wrong.

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Topics: Lending, Credit Scoring, AI/ML, Financial Inclusion/Social Good

Women In FinTech

Mar 28, 2019 / by Helene Stafferöd Westerlund

Sweden is the famous home to several infamous tech giants and unicorns such as iZettle, Bambora and Spotify. It is also very well known for ranking very highly when it comes to gender equality. Yet, for some reason, there is a mismatch between these two facts and in fields such as FinTech women are still greatly under-represented. A 2018 FinTech report by Stockholm School of Economics found only 38% of employees in the FinTech sector in Stockholm are women. 

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Topics: Instantor News

Transactional Data: The Future of Credit Scoring

Feb 28, 2019 / by Helene Stafferöd Westerlund

The financial services landscape has been radically evolving for the past decade, and credit scoring is no exception. Once the domain of a small number of credit bureaus, alternative credit scoring is democratising the credit underwriting process for banks and other lenders. This global trend shows no signs of slowing down, especially with the rise of digital-only banks and as more and more people use banking in unconventional ways, e.g. applying for a mortgage online.

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Topics: Compliance (GDPR, PSD2), Credit Scoring, Onboarding, Digitalisation, Digital Identity, KYC/AML, Alternative Credit Scoring, Credit Risk Management

Product Update: Additional Stack Support in LATAM and Asia

Feb 6, 2019 / by Helene Stafferöd Westerlund

 

Here at Instantor, we’re all about making our service (even) easier for our customers. Over the last 8 years, we’ve been lucky to grow to different parts of the world. And while we’re humbled by the customers who’ve chosen to join us over the years, we are always on the lookout for how we can make the Instantor experience even better.

 

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Topics: Product Updates, Instantor News

How Can AI and Machine Learning Explain Why? - The SHAP Model

Nov 5, 2018 / by Helene Stafferöd Westerlund

AI has been gaining popularity in recent years, particularly as it’s been improving in leaps and bounds for a whole range of tasks: from predicting the risk of child abuse in a given family to beating world champion Go players. 

However, one critical problem with using it for decision making in business is that the machine learning models can't explain the predictions they make: a customer might, reasonably, want to know why their cred it card or home loan application was denied. 

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Topics: Credit Scoring, AI/ML

The big Challenges Faced in KYC Implementation Today

Oct 25, 2018 / by Helene Stafferöd Westerlund

Recent developments, such as the European Union’s 4th AML Directive, highlight the challenges faced by financial institutions in ensuring KYC compliance in a continuously evolving regulatory landscape. It is now required that European companies disclose information regarding the beneficial owners. However, it’s extremely difficult to create best practices that multinational financial institutions can follow.

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Topics: Lending, Digitalisation, Digital Identity, KYC/AML

The Secret of Speeding up Commercial Risk Management

Oct 12, 2018 / by Helene Stafferöd Westerlund

The recent announcement by Santander to partner with nCino to support its business banking activities comes as no great surprise. Although nCino claims its platform offers benefits across the entire commercial banking model, it is the improvements in loan origination — a reduction of 40% in the time taken for loan decisions — that’s driving Santander’s initial implementation activities. 

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Topics: Onboarding, Digitalisation, KYC/AML

Your Opportunity to Reach Half a Billion People

Sep 4, 2018 / by Helene Stafferöd Westerlund

2018 has been a fantastic year for Swedish startups. In the past 8 months alone, Stockholm has given birth to 3 new unicorns, and has been home to some of the world's biggest tech exits, including the $29B IPO of home-grown Spotify in April.

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Topics: Product Updates, Instantor News, AI/ML

A Sneak Peek into Instantor's New Products

May 3, 2018 / by Helene Stafferöd Westerlund

You are probably familiar with our income and ID verification products. Now, after seven years, 250 bank integrations, 22 markets, and millions in end-user-usage, our product portfolio is evolving.

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Topics: Product Updates, Instantor News