Credit Bureau Score
“GLocal” Credit Bureau Score
A credit bureau score is a statistical indicator of the likelihood that a customer will default on a payment over the next year, given that customer’s historical behavior as evidenced by credit bureau data. Credit bureau scores are an invaluable tool for improving the analytical powers of credit risk managers, and implementing automated decision policies.
Scores can be either “expert” or “customized”.
The GLocal Credit Bureau Score is an expert score that comes integrated in the C2BS. It is useful as a “start-up” score in situations where no reliable historical data are available. The model was developed using data from different countries in which CRIF has credit bureau clients. In the period after implementation of a new credit bureau solution (3 to 18 months) as data are processed and stored by the bureau, it is possible to perform a validation which consists of testing the “GLocal” score forecasting capability and, if necessary, re-calculating it in order to fine tune the scorecard weights.
Customized Credit Bureau Score
CRIF has extensive experience in creating customized scores as part of our bureaus. The Perform customized score allows a full rank-ordering of any client’s portfolio according to the probability of default of its customers. With customized scorecards by product and subject type, the Perform score is used by CRIF clients to segment their customers, leading to faster and more accurate decisions at all stages of the loan cycle.