Tearsheet explains the concept of decentralized credit scoring and how it is different from traditional credit scoring. The three major...
It all started with a cold LinkedIn message back in 2016. The co-founder of the (then) tiny startup Nova Credit,...
The big three credit bureaus, whether in the UK or the US, have excellent coverage on the majority of consumers....
When we really started covering financial inclusion and financial health here at LendIt five years ago it seemed that we...
Credit bureaus have had a tough past year with the Equifax breach of customer data and new legislation in the U.S. looking to increase competition by allowing lenders to use different sources; changing the credit bureau system is not as easy as it may sound as they have been intertwined in the financial services system for a long time; lenders still use the bureaus for a large majority of lending decisions, even though some alternative bureaus have seen traction; the breach at Equifax could have a lasting effect because people did have a lot of trust in the company to secure their sensitive information like social security numbers; as data sharing in financial services becomes commonplace a premium will need to be placed on how that data is secured. Source.
The ranks of thin file consumers continues to grow in this country. According to Experian these consumers now number 25% of...
The way we have stored and used credit information has not fundamentally changed in decades. The big three credit bureaus...
Most countries in the world today have some kind of centralized repository for credit data. But this data exists in...
A new blockchain-based anti-fraud and identity verification system is being built by Spring Labs in cooperation with major online lenders;...