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The applicability and rationality of “credit score based on digital footprint”

In: Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)

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  • Qianhui Yang

    (The University of Waikato Joint institute at Zhejiang University City College, Hangzhou City University)

Abstract

Because of the application of the internet and the strong penetration of mobile phone usage, financial institutions realize that credit scores can be performed based on the access records of each user, that is, digital footprints. This approach can not only predict consumer default but also make it easier for the unbanked. However, there are also a series of problems with using digital footprints for credit scores. This paper will mainly affirm the applicability of using the digital footprint model for credit scores by comparing the traditional and new credit score models, the FICO scoring system and the user-generated digital footprint model. Finally, describe the problems of the UGDF model and the measures to be taken.

Suggested Citation

  • Qianhui Yang, 2023. "The applicability and rationality of “credit score based on digital footprint”," Advances in Economics, Business and Management Research, in: Amalendu Bhunia & Rubi Binti Ahmad & Yifeng Zhu (ed.), Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023), pages 552-560, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-298-9_60
    DOI: 10.2991/978-94-6463-298-9_60
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