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Stream/Area:
-
Subject:
-
Paper ID:
IJSREM19855
Volume:
7 |
4 |
Apr 2023
Pages:
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
Credit scoring is a system that has revolutionized the way consumer lending is done today. Before the introduction of credit scores, lending decisions were made based on personal relationships, collateral, and a lot of paperwork. Credit scores have changed the game by reducing the amount of time and effort it takes for lenders to make informed decisions on whether to lend money to someone or not. The development of credit scoring has also made it easier for consumers to access credit, even those with little or no credit history. In this Paper, we will explore how credit scoring has changed the consumer lending industry, how it works, and its impact on both lenders and borrowers.
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Publication Date
4/30/2023
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
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Conflict of Interest
The authors declare no conflict of interest related to this research work.
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