Why the credit score is broken and how to fix it?

A credit score is important for both the borrower and the lender as this score is a measure of the trustworthiness and the creditworthiness of the borrower. It is a statistical figure which is derived from the credit history of the borrower. It helps in understanding the probability of the…

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Why a Good Credit Score Doesn't Mean Much

Worked really hard to maintain a credit score of above 700? Well, there is a good chance that you may have overestimated its efficacy. There is growing evidence which suggests that the traditional credit scores might well be on their way to become obsolete. Financial institutions are now looking to…

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The Importance of Financial Inclusion in Credit Scoring Decisions

“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”- Franklin D Roosevelt In a world where the majority of the population remains unbanked, the expansion of financial…

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Behavioral Economics and its Impact on Credit Decision Making

Behavioral economics is a field of economics that has changed the fundamentals of looking at human behavior. It makes use of insights from human psychology, judgment, decision making and economics to provide a more accurate way of understanding human behavior in terms of credit. Though behavioral economics dates back to…

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NO CREDIT SCORE ? HERE IS HOW YOU CAN GET LOAN

As we have learnt earlier, anyone who has a CIBIL score less than 700 have some kind of troubles getting a loan. There could be delays in the credit decision or a downright rejection. For those with a CIBIL score of -1, getting a loan might not be an easy…

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