The new era of data intelligence in credit scoring

Credit scoring solutions have dominated retail banking decision models for decades. In the 1990s and early 2000s when financing was rapidly growing, these credit decision process tools started as basic models with limited data, mainly demographics. Now, credit scoring has become the core decision tools used in the banking industry. However, in an age of data abundance, this is set to change. 

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Why the EDR schemes need reform

When clients have a dispute with a Financial Services Provider (FSP) and have the basis to pursue their complaint with an ASIC-approved External Dispute Resolution (EDR), we typically advise them not to do it on their own. This is not done based on inclination or personal preference. Our advocates have a specific responsibility to put our client’s interests first.

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