Alt data aims to shake up credit scoring business

Young firms, using machine learning methods to scrape consumer info, challenge established agency model

Custom dictates that lenders rate an individual’s ability to repay a loan by checking their credit history. It’s a simple concept that has been the bedrock of consumer lending since the Fair Isaac Corporation – now Fico – designed the first credit scoring algorithms 30 years ago.

Now, a new generation of upstarts are trying to topple this convention. Two challengers, Credit Kudos and Aire, are developing ways of collecting and analysing a wider range of data on consumers. They claim their

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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