How can alternative credit scoring enhance customer acquisition strategies for lenders?

Feb 12, 2025 ... Discover how alternative data enhances credit scoring, helping lenders to better assess creditworthiness and predict defaults. these scores help lenders quickly assess the risk associated with lending to a particular borrower. Key challenges of MSME access to finance include a lack of ... Mar 26, 2024 ... Alternative credit data, such as rent payments or other transactional activity, can be used to develop alternative credit scoring models in ... Dec 13, 2019 ... As with prior developments in the evolution of credit underwriting, including the advent of credit scoring, the use of alternative data and ... Jan 28, 2025 ... ... alternative credit scoring models that would meet an institutions' legitimate business needs. The CFPB's examiners also noted that financial ... Jun 5, 2024 ... We find that incorporating retail data increases approval rates for individuals without a credit history, from 15% to between 31% and 47%. Aug 5, 2024 ... Alternative credit scores are an evaluation method for assessing an individual's creditworthiness. They are used instead of traditional credit ... Dec 19, 2023 ... Alternative credit scoring is a paradigm shift from traditional methods. It broadens the scope by incorporating diverse data sources beyond income and credit ... Jun 10, 2020 ... These innovations reflect the continuing evolution of automated underwriting and credit score modeling, offering the potential to lower the cost ... Jul 20, 2022 ... And although it has not stretched as far as GSE conservatorship, the FHFA's review of alternative credit scoring models is now in its seventh ...