9 trends shaping credit assessment this year
1. Inclusion of Diverse Data – there’s no alternative. Spurred by a combination of factors, Lenders are actively looking to include more and different types of data in decisioning processes. In recent years the limits of legacy credit data has been exposed. While exact models vary, legacy bureau credit scores consider the last 5 […]
The 3 C’s of Credit
The three C’s are Character, Capacity and Collateral, and today they remain a widely accepted framework for evaluating creditworthiness, used globally by banks, credit unions and lenders of all types.
Fair credit, from A to Gen Z
This article explores the unique personality characteristics of Generation Z, also known as iGen or Centennials. From their tech-savvy nature to their social inclusivity and purpose-driven mindset, discover what sets this young adult demographic apart from their predecessors.
What an alternative credit score should never check
Predictive credit insights with zero personal data. Credit scores are changing, considering more diverse data than ever before. But while more data can be considered, not all of it should be. Personal information does not need to be shared for an alternative data credit assessment. Today, financial businesses are incorporating new data sources, such as […]
A history of credit scores
The ways of working out who to trust in the world of credit have changed with over the years. Let’s look at the history of credit scores.
UK Focus: Shifting economic conditions
UK regulator, the FCA (Financial Conduct Authority) has this month written directly to more than 3,500 lenders in the UK to “remind them of the standards they should meet as consumers across the country are affected by the rising cost of living. With household bills expected to continue to rise into the autumn, it is […]
The future of lending is first-party data
In a data-rich world, it is increasingly important to know how to select the best data source for each process. What is the difference between first-party and third-party data? And why are some lenders moving to first-party data for risk assessment? Let’s start with some definitions First-party data is data that you create or […]
11 trends shaping credit assessment this year
1. Inclusion of Alternative Data Spurred by a combination of factors, Lenders are actively looking to include more and different types of data in decisioning processes. Notably the fallout from lockdowns in recent years has exposed the limits of traditional data. While exact models vary, traditional bureau credit scores consider the last 5 to 7 […]
