System and method for cold-start machine learning models

A computer-implemented method for generating a prediction using a cold-start model, comprising:

• providing, at a memory, a cold start model and at least one data set from at least one data source, the at least one data set comprising historical transactional data for a first plurality of individuals, and contextual data for a second plurality of individuals, the first plurality of individuals comprising a subset of the second plurality of individuals;
• determining, at the processor, at least one activity from the at least one data set, the at least one activity comprising at least one feature of the corresponding data set;
• generating, at a processor in communication with the memory, a cold start prediction comprising at least one candidate identifier corresponding to at least one individual in the second plurality of individuals lacking corresponding historical transaction data, the cold start prediction based on the cold start model and the at least one activity;
• generating, at the processor, at least one attribution value based on the at least one feature of the at least one activity, the at least one attribution value corresponding to a contribution of each feature of the at least one activity;
• and
• generating, at the processor, an explainable prediction comprising the cold start prediction and the at least one attribution value corresponding to the cold start prediction.