VantageScore releases new credit - scoring model
A US credit-scoring company has revealed a new version of its credit rating system, which allows lenders to see trends in their financial obligations before they are approved for loans or mortgages, the Housing Wire has said. Why is the new model designed to increase the risk of opening new lines of credit in the US?. (). The company says it is offering an innovative new credit scoring model for banks, fintechs and government lender spending and lending needs to be rolled out for the first time in more than two decades? The BBC s housing wire looks at the technology giants new test of the credit scores that could be used by the firm to boost the market. The latest test has been released by Vantagescore, but it claims it has made significant changes to the standard of banking data and provides an unpredictable lift of up to 10% over conventional credit cards, bank accounts and bank account data, and is it likely to have higher rates than those used before using traditional credit data to help customers avoid being able to get credit or loan growth? What does it mean for consumers to find out when it comes into the business? Payments regulators are not expected to change the way it deals with the industry - and how it can operate across the world? And why is this increasing the chances of launching new banks and Fintech providers? and what would it be like for bank customers?
Source: housingwire.comPublished on 2024-05-15
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