In the 20th century, credit was a simple, rule-bound system: you either had a credit history or you didn’t. You were either in the system or out. If you had no loans, no bank-issued credit cards, and no accounts in good standing with reporting agencies, then it didn’t...
Traditional credit scoring methods, though widely used, exclude a staggering number of individuals globally—approximately 3 billion people—due to insufficient or absent credit histories. Often labeled as "credit invisibles," these individuals face considerable challenges accessing loans and other financial services, emphasizing an urgent need for alternative scoring...
In an era where traditional credit scoring models fall short of accurately assessing the unbanked and underserved populations, alternative data has emerged as a transformative solution. By leveraging non-traditional sources like social media activity, subscription data, marketplace behaviors, and even darknet intelligence, businesses can not only enhance credit risk models...
At its core, credit scoring allows financial institutions to evaluate the creditworthiness of individuals and businesses. Traditionally, this assessment occurs during loan applications and relies heavily on data sourced from credit bureaus and application forms. Traditional credit scoring typically examines several key financial indicators: * Proof of Income: Verification through income...
Traditional credit scoring methods, though widely used, exclude a staggering number of individuals globally—approximately 3 billion people—due to insufficient or absent credit histories. Often labeled as "credit invisibles," these individuals face considerable challenges accessing loans and other financial services, emphasizing an urgent need for alternative scoring...
Scoreplex has signed a Memorandum of Understanding (MoU) with HES FinTech, developing lending automation processing systems that provide cost-efficiency and drive fast operations for financial service companies. This collaboration represents a significant advancement in utilizing HES FinTech's AI-driven credit decisioning capabilities alongside Scoreplex’s expertise in alternative data...
In an era where traditional credit scoring models fall short of accurately assessing the unbanked and underserved populations, alternative data has emerged as a transformative solution. By leveraging non-traditional sources like social media activity, subscription data, marketplace behaviors, and even darknet intelligence, businesses can not only enhance credit risk models...
