Next-Generation Credit Scoring: Leveraging AI to Integrate Alternative Data for Financial Inclusion

@article{1710203,
      author = {Godwin David Akhamere},
      title = {Next-Generation Credit Scoring: Leveraging AI to Integrate Alternative Data for Financial Inclusion},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {8},
      number = {2},
      pages = {1112-1124},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1710203.pdf},
      abstract = {A new suite of AI-powered credit scoring systems that richly incorporate alternative data-including mobile payments, telecommunications data, behavioral digital traces, and psychometric indicators-can provide a new approach to broadening access to credit by members of traditionally underserved communities. This paper presents a conceptual motivation to exploit the predictive accuracy and fairness potential of these non-conventional inputs over the traditional scoring models of the past. Basing the evidence on quantitative research, case studies, and theory analysis we are developing a more specific research question and testable hypothesis. Finally, the paper will also attempt to lay out a road-map on how a robust ethical credit can be deployed, which in a globalized world will need to be inclusive of diversities of economies.},
      month = {August},
  }