How to Leverage Economic Volatility
The COVID-19 pandemic might be coming to an end, but the economic volatility and ongoing instability it created is just beginning. For the first time in decades, the American and Canadian economies have seen soaring inflation and record-setting central interest rate hikes. Since March 2022, the US Federal Reserve interest rate has climbed 225 basis […]
Adopting AI for Credit and Lending Decisions: 4 Common Data Mistakes
Are you interested in adopting AI and machine learning to grow your lending? If so, the journey to realizing AI and machine learning for your credit and lending decisions essentially begins with data. Handling and preparing a massive amount of data for AI and machine learning can be uncharted territory for many. If you’re looking […]
The Role of Time Series in Loan Data Analysis
In the first two blogs of our four part blog series we covered structured and unstructured data in underwriting and the importance of ontologies, or agreements of what the data mean. This brings us to the next topic, time, and its impact when analyzing loan data. Time series modeling is a very popular and powerful way to […]
The Importance of Data Ontology in Big Data Loan Underwriting
This is the second blog of our four part blog series with topics pertaining to structured and unstructured data in big data loan underwriting. In our first blog of the series, we provided an overview of structured and unstructured data, its impact in data driven underwriting, and how to integrate unstructured data into machine learning […]
Structured and Unstructured Data in Data Driven Underwriting
Gartner estimates that 80% of enterprise data is comprised of unstructured data. Yet until tech advances afforded by machine learning, structured data has been the go-to for data analytics and models. The advances in computation power have afforded organizations the ability to analyze and incorporate unstructured data into their business decisions. One could even say, unstructured […]
Top 2020 Underwriting Data Trends
Are you ready for 2020? We believe in giving people the credit they deserve and arming lenders with credit decisioning tools and analytics that keep their business current. And to continue working on helping the credit underwriting market our CEO and CTO put together the top 5 underwriting data trends lenders need to consider for their business in 2020. […]
The Role of Protected Attributes in AI Fairness
Although there is high corporate demand to leverage the power of artificial intelligence and machine learning, it is critical to provide fairness and mitigate bias when implementing AI and machine learning. In this post we’ll explore a few fundamentals to implement fair AI and ML practices for machine learning credit underwriting. The post can serve […]
Automated Loan Underwriting: Trust Science Scoring Explained
Want better predictions on bad loans, higher originations, and accelerated lending cycles to impact your bottom line? Automated loan underwriting can help you achieve these goals. In this post, I’ll walk you through our Trust Science credit scoring mechanism using a sample customer loan performance with anonymized test data. The example will not only demonstrate […]
Trust Science: Why Do We Talk About Patents?
Technology companies around the world are investing in artificial intelligence (AI) and machine learning (ML) at a breakneck speed. From health to telecommunications and transportation to finance, both technologies are becoming table stakes in a data-driven world. Unsurprisingly, AI is also the fastest growing section of patent requests in the world, with universities and tech […]
Disrupting Credit Scoring with Credit Bureau 2.0™: Mobile or Nothing
In October, as a part of the Money 20/20 show in Las Vegas, Evan Chrapko, CEO & Founder of Trust Science® had the opportunity to speak to the audience about Breaking News & Fintech Views. Watch the talk here.
How Alternative Data Increases Accuracy in Credit Assessment
An estimated 45 million1 Americans are either “credit invisible”, or “unscorable”. These individuals have credit score that would generally be perceived as subprime and thus, considered by traditional lenders to be less desirable candidates for new credit. And while lenders need to pay careful attention to mitigating the risk of delinquency, the fact remains that there […]
Rethinking Trust: The Next Generation of Credit Scoring
Humans are biologically programmed to develop a sense of who is trustworthy. But in a rapidly evolving digital economy, what role does trust play? Trust is, and always has been, at the core of the economy. We recognize factors like ability, benevolence, reputation, credibility and integrity as natural components of trustworthiness. However, in commerce, and […]
