What are the technical challenges in processing and analyzing diverse alternative data sets?

Oct 16, 2023 ... Including this alternative data into scoring models will expand homeownership opportunities for creditworthy borrowers and make scores more ... May 21, 2024 ... This study explores the potential of utilizing alternative data sources to enhance the accuracy of credit scoring models. 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. Jun 28, 2023 ... Several fintechs leverage alternative data such as rent payments to help consumers improve their credit scores. For example, RentPlus and ... Feb 8, 2024 ... A consumer credit score is a numeric metric used by lenders to determine the likelihood of default on a consumer loan. Consumer scores are ... Jan 5, 2022 ... Lenders are increasingly exploring alternative information or data not typically used in credit scoring to determine loan eligibility. 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%. Feb 3, 2022 ... Insurance companies can now calculate real-time credit scores based on evidence, shown in behavioural data from mobiles and web use. This ... Feb 10, 2022 ... Alternative data promise to expand access to loans for the more than one in seven adult Americans who lack an established credit score, Chopra ... Oct 17, 2023 ... Nova Credit Lands $45 Million in Funding for Alternative Credit Scoring ... Borderless credit data company Nova Credit has brought in $45 million ...