CredoLab claims alternative data can improve credit scoring

True innovators look for new data points to predict delinquency, as traditional credit raters load more transaction history into their scoring models.

This summer, Fair Isaac Corporation, the Silicon Valley-based data science and predictive analytics company, will launch the latest version of its famous credit score, FICO Score 10.

The FICO score, which is used in 90% of all consumer credit decisions in the US and by all the large credit card and auto loan companies, will in future include trended credit bureau data, rather than just an assessment of individuals’ income, indebtedness and previous credit event history at a given moment in time.

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