How can transparency in alternative credit scoring algorithms be improved for consumers? What are the key metrics used to evaluate the performance of alternative credit scoring models?

Moving from the current Classic FICO credit score model to require lenders to use two credit scores generated by the FICO® Score 10 T and the VantageScore® 4.0 ... Feb 21, 2017 ... Harder to educate and explain: The more factors that are integrated into a consumer's credit score or into decisions in the credit process, or ... Oct 24, 2019 ... Alternative credit scoring and predictive models are a solution that would make credit lines for unbanked faster, cheaper, and credit worthy. Mar 17, 2020 ... Pros and cons of alternative credit scoring models. The biggest advantage of alternative credit scoring is that more borrowers can qualify for ... 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 ... While using alternative credit scoring is not a substitute for bad credit, it can be a vehicle to offer more affordable loans than sub-prime programs offer. Mar 22, 2019 ... National Taxpayers Union filed comments this week with the Federal Housing Finance Agency on the possibility of using alternative credit ... May 5, 2009 ... ... alternative credit-based insurance scoring model that would not have such an effect among racial and ethnic groups. insurance credit scoring ... Nov 29, 2021 ... ... loan and how much they should pay. This so-called alternative credit scoring could have profound effects for consumers, many of them ... Jun 22, 2023 ... Alternative credit scoring enables lenders to assess potential borrowers' financial discipline based on their digital footprints.