Machine learning can produce better credit scores – BIS paper
Fintech firms may be better at predicting default rates, researchers find
Fintech firms that use machine learning and “non-traditional” data sources may be able to generate a more accurate picture of the credit risks posed by their customers, a working paper published by the Bank for International Settlements finds.
Leonardo Gambacorta, Yiping Huang, Han Qiu and Jingyi Wang study transaction data from a “leading Chinese fintech company”, which asked to remain anonymous. This allows the authors to separate traditional data (such as credit card information) from more
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