FICO
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Credit Scoring in Fintech and Consumer Loans

Published by FICO

This whitepaper explores the role of FICO scores in consumer lending and how AI-driven alternative scoring models are being used by some fintechs. It emphasizes that while AI models can help expand credit access for underserved populations, they do not replace the FICO score's reliability and regulatory compliance. The FICO score remains the industry standard, providing a comprehensive view of credit risk using established credit bureau data. The paper also discusses innovations like UltraFICO and FICO Score XD, which incorporate alternative data to broaden credit access.

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Related Categories AI Ethics, Finance, Fraud Detection, Risk Management, Algorithmic Trading, Financial Forecasting, Credit Scoring, Robo-Advisors, Financial Analytics, Compliance & Regulation, E-learning Platforms, AI Tutors, Assessment Tools