Big Data Scoring
What is Big Data Scoring?
Big Data Scoring is an online, cloud-based service that helps consumer lenders like banks and leasing companies to improve their loan quality, acceptance rates and credit losses using big data.
Where have you heard about Big Data Scoring?
The company is a big name in the world of consumer lending and credit scoring. It's made headlines thanks to its somewhat controversial method of collecting data - through Facebook and other online publicly-available sources - to build their credit scoring model.
What you need to know about Big Data Scoring.
Big Credit Scoring collects data from a variety of public sources - including social media, Google searches and IP addresses - to build up a picture of a potential client's payment behaviour. It's aimed at helping underwriters to do their jobs, especially with more difficult clients like millennials, or in emerging markets where credit information is scarce.
The company promises better credit quality and smaller credit losses based on this client profile, because it helps the consumer lender make better decisions.