Tag Archives: Credit Risk

Risk & Compliance U.S. Credit Scoring Trends to Watch in 2019

Feb252019

After a 2018 that had its highs and lows, what might 2019 have in store from a credit risk management standpoint?  Here are four key developments in credit scoring that we will be keeping an eye on in the new year: Consumer-Contributed Data Takes Center Stage Momentum is high in the consumer-contributed data space: consumers are getting more comfortable with sharing their data, provided they are presented with clear benefits for doing so.  Mandates, such as the Revised Payment Services Directive (PSD2), are ushering in the era of Open Banking around the globe.  Additionally, developments, such as the recent launch of the Financial Data Exchange (FDX), point to increasing collaboration between financial institutions and data aggregation vendors (such as Finicity, Plaid, Quovo, and Envestnet | Yodlee) to facilitate secure and efficient transfer of consumer-permissioned financial data. In 2019, enhanced credit underwriting via digitally contributed-consumer data will hit the mainstream.  With... [Read More]

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