INDUSTRY INSIGHTS YOUR PEERS ARE READING
When it comes to capital one, a small business line of credit means you only have to pay back what you use. If the credit just sits in a bank account, there’s no interest added and no need to give it back. Because Credit Scores Vary. MORE
and Barclays, scored a 740 on the GMAT, and climbed Mount Everest. BONUS BITS First Impressions The Science of Meeting People (Wired) Should Your Credit Score Matter on Job Interviews? A Bunch of Seemingly Smart People Look Who Harvard and Stanford B-Schools Just Rejected Fortune It''s not especially surprising that there''s steep competition to get into these two top business schools. MORE
Prototypically, a bank officer would make credit decisions for applicants based on the applicants' "character" — which church they attended, which school their kids were in, etc. The standardized score massively increased credit availability and thus lowered the cost of borrowing. MORE
For example, developing a credit scoring model using data of past defaults and then testing the model on that same data is an exercise in circularity: you’re predicting what you’ve explained already. Predictive analytics often sounds a bit like quantum mechanics: fiendishly complex to look at and wildly counter-intuitive. So when someone sells you a tool, how can you verify that the black box is fit for its purpose or even lives up to the vendor’s claims? MORE
Recent analysis by Bain and SAP found that only 7% of bank credit products could be handled digitally from end to end. Approval times are cut to days or, in some cases, a few minutes, fueled by data-driven algorithms that quickly pre-qualify borrowers based on a handful of data points such as personal credit scores, Demand Deposit Account (DDA) data, tax returns, and three months of bank statements. MORE
The idea is that direct driving behavior over time will be more predictive than traditional proxies such as age, credit rating, or geography. For insurers, transforming these data into their most usable form may require the creation of new composite variables or scores from the existing data — something like a driving risk score that gives weight to telematics data, geography, and credit score. MORE
In short, the health of American small businesses depends significantly on credit. And as we describe in a recent HBS Working Paper , gaps remain in traditional bank credit supply. Neither sales nor employment have fully recovered, and credit seems harder to come by. MORE
After the recession, for instance, one large lender made a practice of looking for “rehab” customers whose credit suffered in the downturn but who had since managed to achieve more stable incomes. MORE
When you’re trying to be careful with your funds, and save wherever you can; you might think that getting yourself a credit card might be a bad idea. However, it’s worth getting one so that you’ll have a credit rating or score for you and your business. MORE
Governments must ensure that the massive amounts of data these new methods require don’t become the province of only a few companies, as has occurred in the data-intensive worlds of online advertising and credit scoring. Jennifer Maravillas for HBR. Imagine that the next time you see your doctor, she says you have a life-threatening disease. The catch? A computer has performed your diagnosis, which is too complex for humans to understand entirely. MORE
Mainstream software companies are beginning to hold “ data mirrors ” up to their customers, allowing scoring and benchmarking of their customers’ strategies. In such situations, the use of publicly available external data can be used for scores and rankings. MORE
As opposed to meeting with entrepreneurs, this model is largely based on financial reporting information, credit scoring, and the quality of accessible assets as collateral. And that even when they are approved for financing, they face more demanding credit terms compared to men. They include not paying taxes or invoices on time, breaking credit agreements, the use of undocumented workers and trades in services. Veronica Grech/Getty Images. MORE
Help banks determine who’s worthy of receiving credit. Though there are credit scores, there are many ways people game the system. Should everyone get credit? This was the year most every large company took notice of the rise of artificial intelligence. MORE
You’ve likely experienced a fair amount of credit card companies trying to entice you via offers in the mail. When you consider the fact that the United States’ total credit debt reached $1 trillion in 2017, it becomes clear why: these credit cards are a massive source of revenue. MORE
Some innovative companies are connecting data traditionally used by banks to assess the credit score of loan applicants with information ranging from mobile phone usage data to online social media relations data, in order to better and faster assess the creditworthiness of a micro-loan applicant. MORE
Educational records, business histories, health care information, and credit ratings could all be made usable the world over, helping those who want to trade or travel to prove their credentials. Anybody who has ever paid too much for a college transcript or tried to clear a shadow on their credit score can see how systems like this would be helpful in our daily lives. MORE
Access to credit is a key constraint for entrepreneurs. And limited credit is in part caused by the difficulty of predicting which small businesses will and won’t succeed. Since the crisis, banks have reconsidered their overreliance on personal credit scores in small business lending. MORE
This bias shows up in numerous aspects of our lives, including algorithms used for electronic discovery, teacher evaluations, car insurance, credit score rankings, and university admissions. This way, no single metric, such as SAT score, would exclude a qualified candidate. More and more, human resources managers rely on data-driven algorithms to help with hiring decisions and to navigate a vast pool of potential job candidates. MORE
household credit card debt at an all-time high of more than $1 trillion , delinquent payments can be more costly than ever. For consumers, delinquency can mean late fees, increased interest rates, downgraded credit scores, the loss of vehicles or homes, or even bankruptcy, despite their intentions to bring their accounts current by making a payment large enough to satisfy their credit card balance. Ryan McVay/Getty Images. With U.S. MORE
Credit card companies could be doing a much better job of saving us from ourselves. It’s well known that very few consumers are familiar with the terms of their credit card agreements and that even fewer are aware of those terms’ implications. MORE
Know your sender's reputation Email sender score will be like credit score for marketers Over 1/3 of the world will have an email address by 2019 How does this relate to the conference theme? Sender score > credit score(for work!) This week the team at Proactive Talent Strategies is attending the 10th Anniversary of SourceCon in Austin, Texas. MORE
Ensure your credit score remains high to garner the best interest rate deal. MORE
However, if your company can build business credit, you will find yourself gaining more opportunities to access cash. Whatever you do, don’t operate your business on your personal credit. Not only does it make your personal finances vulnerable, but business credit is a much more powerful tool professionally than personal credit. Make the financially fit decision Use these 5 quick tips to start building business credit today. MORE
The company’s original focus was personal lending – individuals borrowing a few thousand dollars here and there to pay off credit card bills or fund a home improvement project. MORE
Build Your Credit Score. If you are new to Canada, you may not have a credit history that banks can rely on to lend you the money for your startup. There are several fast ways to build up your credit score. MORE
For example, developing a credit scoring model using data of past defaults and then testing the model on that same data is an exercise in circularity: you’re predicting what you’ve explained already. Predictive analytics often sounds a bit like quantum mechanics: fiendishly complex to look at and wildly counter-intuitive. So when someone sells you a tool, how can you verify that the black box is fit for its purpose or even lives up to the vendor’s claims? MORE
Women On Business Sponsors credit credit scoreWe've Moved! Update your Reader Now. This feed has moved to: [link] If you haven't already done so, update your reader now with this changed subscription address to get your latest updates from us. link]. MORE
And the ability to secure finance is often directly related to the business’s credit score. But it’s often a challenge for small businesses to establish their credit when they have nothing to show for it. Open Multiple Credit Accounts. Use Your Credit. MORE
Your life account gets credited when you include others positively and debited when you smash them. When you smash others, it does not just damage the people or the things you crush on, it damages your credit score as well. Does a good credit score matter to you? The post Smashing Others and Credit Score appeared first on Self Help Zen. In fictions, often the lead character kicks down the ladder. He smashes others that come his way. MORE
Access to credit is a key constraint for entrepreneurs. And limited credit is in part caused by the difficulty of predicting which small businesses will and won’t succeed. Today, community banks are being consolidated and larger banks are relying more and more on data-driven credit scoring to make small business loans—if they are making them at all. MORE
We assume our personal information has been compromised in some way, take reasonable precautions like canceling a credit card or instituting credit monitoring, and move on with our lives. At the time of this writing, the credit bureau has been named in more than 50 class-action lawsuits (two were filed within hours of the announcement) and a lawsuit filed by the Massachusetts attorney general. Equifax is one of the three major credit bureaus in the United States. MORE
The consumer financial institution we work with also hires our fellows for their credit department that assesses underwriting risks. Instead, a strong statistics background can ensure the credit models withstand rigorous statistical scrutiny and do not overfit the data. MORE
Much like credit data, we could soon have a burgeoning cottage industry in what I call extrapolated uses of biometric data. For instance, based on your credit score, profession, age group, or zip code, marketers infer that you fit into specific marketing demographics. Behavioral biometrics can become a passive watcher that triggers a flag when it recognizes a break in the usual pattern, similar to the expert systems that flag credit card fraud. 4×6/Getty Images. MORE
Something else that you should do on a personal level is to know what your credit score is. It means that knowing where you stand with regards to credit is essential. As an entrepreneur, you know how important money management is. MORE
People with higher credit scores tend to be less impulsive, better at delaying rewards, and more trustworthy than those with lower scores, according to a study of 63 university students and employees by Shweta Arya, Catherine Eckel, and Colin Wichman of the University of Texas at Dallas; the study included a survey and a set of tasks and games. Fair Isaac credit scores are calculated on a scale from 300 to 850 , with the U.S. MORE
It created all this anxiety among users, but they didn’t know how to influence the score, what behaviors were being measured. We all want to get that perfect score, and yet what’s the point of having a five-point scale if it’s “5 is great, anything less is bad”? MORE
Finance Women On Business Sponsors credit scoreWe've Moved! Update your Reader Now. This feed has moved to: [link] If you haven't already done so, update your reader now with this changed subscription address to get your latest updates from us. link]. MORE
Even China’s opaque behemoths have started the year with unprecedented acknowledgements of the need to address trust concerns: Tencent had to publicly deny that it collects user WeChat history after it was openly challenged; Alibaba’s Ant Financial apologized to users of its mobile-payment service for automatically enrolling them in its social-credit scoring service. You can find our scores on these dimensions across 42 countries in the graphic below. MORE
The data will establish a social credit system expected to be both mandatory by 2020. The private sector, companies such as Alibaba – e.g. Sesame Credit, run by the Ant Financial, an Alibaba affiliate. Jeff Greenberg/Getty Images. MORE
We've Moved! Update your Reader Now. This feed has moved to: [link] If you haven't already done so, update your reader now with this changed subscription address to get your latest updates from us. link]. Women On Business Sponsors MORE
Improving cash flow within your business can reduce your need for loans and credit which come with interest, thus helping you to save money. Credit checking your customers can also help you to improve your cash flow and save money. Saving money in business can be done in numerous ways. MORE
Credit Scoring Related Topics Women on Business
SEPTEMBER 21, 2016
Women On Business Sponsors credit credit scoreWe've Moved! Update your Reader Now. This feed has moved to: [link] If you haven't already done so, update your reader now with this changed subscription address to get your latest updates from us. link].
Women on Business
APRIL 9, 2018
Finance Women On Business Sponsors credit scoreWe've Moved! Update your Reader Now. This feed has moved to: [link] If you haven't already done so, update your reader now with this changed subscription address to get your latest updates from us. link].
Self Help Zen
JULY 12, 2014
Your life account gets credited when you include others positively and debited when you smash them. When you smash others, it does not just damage the people or the things you crush on, it damages your credit score as well. Does a good credit score matter to you? The post Smashing Others and Credit Score appeared first on Self Help Zen. In fictions, often the lead character kicks down the ladder. He smashes others that come his way.
Women on Business
AUGUST 14, 2018
We've Moved! Update your Reader Now. This feed has moved to: [link] If you haven't already done so, update your reader now with this changed subscription address to get your latest updates from us. link]. Women On Business Sponsors
Strategy Driven
NOVEMBER 13, 2018
And the ability to secure finance is often directly related to the business’s credit score. But it’s often a challenge for small businesses to establish their credit when they have nothing to show for it. Open Multiple Credit Accounts. Use Your Credit.
Harvard Business Review
NOVEMBER 29, 2013
People with higher credit scores tend to be less impulsive, better at delaying rewards, and more trustworthy than those with lower scores, according to a study of 63 university students and employees by Shweta Arya, Catherine Eckel, and Colin Wichman of the University of Texas at Dallas; the study included a survey and a set of tasks and games. Fair Isaac credit scores are calculated on a scale from 300 to 850 , with the U.S.
Strategy Driven
SEPTEMBER 26, 2017
When it comes to capital one, a small business line of credit means you only have to pay back what you use. If the credit just sits in a bank account, there’s no interest added and no need to give it back. Because Credit Scores Vary.
Strategy Driven
JULY 1, 2018
Build Your Credit Score. If you are new to Canada, you may not have a credit history that banks can rely on to lend you the money for your startup. There are several fast ways to build up your credit score.
Strategy Driven
FEBRUARY 20, 2018
When you’re trying to be careful with your funds, and save wherever you can; you might think that getting yourself a credit card might be a bad idea. However, it’s worth getting one so that you’ll have a credit rating or score for you and your business.
Strategy Driven
NOVEMBER 21, 2018
Something else that you should do on a personal level is to know what your credit score is. It means that knowing where you stand with regards to credit is essential. As an entrepreneur, you know how important money management is.
Strategy Driven
SEPTEMBER 2, 2018
You’ve likely experienced a fair amount of credit card companies trying to entice you via offers in the mail. When you consider the fact that the United States’ total credit debt reached $1 trillion in 2017, it becomes clear why: these credit cards are a massive source of revenue.
Leadership Freak
DECEMBER 20, 2017
Help banks determine who’s worthy of receiving credit. Though there are credit scores, there are many ways people game the system. Should everyone get credit? This was the year most every large company took notice of the rise of artificial intelligence.
Strategy Driven
APRIL 11, 2018
Improving cash flow within your business can reduce your need for loans and credit which come with interest, thus helping you to save money. Credit checking your customers can also help you to improve your cash flow and save money. Saving money in business can be done in numerous ways.
Rich Gee Group
OCTOBER 29, 2010
Ensure your credit score remains high to garner the best interest rate deal.
Women on Business
JULY 9, 2012
However, if your company can build business credit, you will find yourself gaining more opportunities to access cash. Whatever you do, don’t operate your business on your personal credit. Not only does it make your personal finances vulnerable, but business credit is a much more powerful tool professionally than personal credit. Make the financially fit decision Use these 5 quick tips to start building business credit today.
Harvard Business Review
SEPTEMBER 16, 2014
Access to credit is a key constraint for entrepreneurs. And limited credit is in part caused by the difficulty of predicting which small businesses will and won’t succeed. Since the crisis, banks have reconsidered their overreliance on personal credit scores in small business lending.
Harvard Business Review
SEPTEMBER 16, 2014
Access to credit is a key constraint for entrepreneurs. And limited credit is in part caused by the difficulty of predicting which small businesses will and won’t succeed. Today, community banks are being consolidated and larger banks are relying more and more on data-driven credit scoring to make small business loans—if they are making them at all.
Harvard Business Review
AUGUST 28, 2014
The company’s original focus was personal lending – individuals borrowing a few thousand dollars here and there to pay off credit card bills or fund a home improvement project.
Harvard Business Review
APRIL 26, 2017
Recent analysis by Bain and SAP found that only 7% of bank credit products could be handled digitally from end to end. Approval times are cut to days or, in some cases, a few minutes, fueled by data-driven algorithms that quickly pre-qualify borrowers based on a handful of data points such as personal credit scores, Demand Deposit Account (DDA) data, tax returns, and three months of bank statements.
Harvard Business Review
OCTOBER 21, 2013
Some innovative companies are connecting data traditionally used by banks to assess the credit score of loan applicants with information ranging from mobile phone usage data to online social media relations data, in order to better and faster assess the creditworthiness of a micro-loan applicant.
Harvard Business Review
NOVEMBER 6, 2018
The data will establish a social credit system expected to be both mandatory by 2020. The private sector, companies such as Alibaba – e.g. Sesame Credit, run by the Ant Financial, an Alibaba affiliate. Jeff Greenberg/Getty Images.
Harvard Business Review
FEBRUARY 1, 2016
The consumer financial institution we work with also hires our fellows for their credit department that assesses underwriting risks. Instead, a strong statistics background can ensure the credit models withstand rigorous statistical scrutiny and do not overfit the data.
Harvard Business Review
MARCH 26, 2015
After the recession, for instance, one large lender made a practice of looking for “rehab” customers whose credit suffered in the downturn but who had since managed to achieve more stable incomes.
Harvard Business Review
AUGUST 10, 2018
Mainstream software companies are beginning to hold “ data mirrors ” up to their customers, allowing scoring and benchmarking of their customers’ strategies. In such situations, the use of publicly available external data can be used for scores and rankings.
Harvard Business Review
DECEMBER 9, 2016
This bias shows up in numerous aspects of our lives, including algorithms used for electronic discovery, teacher evaluations, car insurance, credit score rankings, and university admissions. This way, no single metric, such as SAT score, would exclude a qualified candidate. More and more, human resources managers rely on data-driven algorithms to help with hiring decisions and to navigate a vast pool of potential job candidates.
Harvard Business Review
JULY 26, 2018
household credit card debt at an all-time high of more than $1 trillion , delinquent payments can be more costly than ever. For consumers, delinquency can mean late fees, increased interest rates, downgraded credit scores, the loss of vehicles or homes, or even bankruptcy, despite their intentions to bring their accounts current by making a payment large enough to satisfy their credit card balance. Ryan McVay/Getty Images. With U.S.
Harvard Business Review
SEPTEMBER 19, 2018
As opposed to meeting with entrepreneurs, this model is largely based on financial reporting information, credit scoring, and the quality of accessible assets as collateral. And that even when they are approved for financing, they face more demanding credit terms compared to men. They include not paying taxes or invoices on time, breaking credit agreements, the use of undocumented workers and trades in services. Veronica Grech/Getty Images.
Harvard Business Review
NOVEMBER 8, 2012
Prototypically, a bank officer would make credit decisions for applicants based on the applicants' "character" — which church they attended, which school their kids were in, etc. The standardized score massively increased credit availability and thus lowered the cost of borrowing.
Harvard Business Review
JUNE 11, 2014
Credit card companies could be doing a much better job of saving us from ourselves. It’s well known that very few consumers are familiar with the terms of their credit card agreements and that even fewer are aware of those terms’ implications.
Harvard Business Review
MAY 8, 2018
Governments must ensure that the massive amounts of data these new methods require don’t become the province of only a few companies, as has occurred in the data-intensive worlds of online advertising and credit scoring. Jennifer Maravillas for HBR. Imagine that the next time you see your doctor, she says you have a life-threatening disease. The catch? A computer has performed your diagnosis, which is too complex for humans to understand entirely.
Harvard Business Review
DECEMBER 6, 2017
Much like credit data, we could soon have a burgeoning cottage industry in what I call extrapolated uses of biometric data. For instance, based on your credit score, profession, age group, or zip code, marketers infer that you fit into specific marketing demographics. Behavioral biometrics can become a passive watcher that triggers a flag when it recognizes a break in the usual pattern, similar to the expert systems that flag credit card fraud. 4×6/Getty Images.
Harvard Business Review
SEPTEMBER 21, 2012
The idea is that direct driving behavior over time will be more predictive than traditional proxies such as age, credit rating, or geography. For insurers, transforming these data into their most usable form may require the creation of new composite variables or scores from the existing data — something like a driving risk score that gives weight to telematics data, geography, and credit score.
Harvard Business Review
SEPTEMBER 22, 2014
For example, developing a credit scoring model using data of past defaults and then testing the model on that same data is an exercise in circularity: you’re predicting what you’ve explained already. Predictive analytics often sounds a bit like quantum mechanics: fiendishly complex to look at and wildly counter-intuitive. So when someone sells you a tool, how can you verify that the black box is fit for its purpose or even lives up to the vendor’s claims?
Harvard Business Review
AUGUST 11, 2014
In short, the health of American small businesses depends significantly on credit. And as we describe in a recent HBS Working Paper , gaps remain in traditional bank credit supply. Neither sales nor employment have fully recovered, and credit seems harder to come by.
Harvard Business Review
SEPTEMBER 22, 2017
We assume our personal information has been compromised in some way, take reasonable precautions like canceling a credit card or instituting credit monitoring, and move on with our lives. At the time of this writing, the credit bureau has been named in more than 50 class-action lawsuits (two were filed within hours of the announcement) and a lawsuit filed by the Massachusetts attorney general. Equifax is one of the three major credit bureaus in the United States.
Harvard Business Review
SEPTEMBER 22, 2014
For example, developing a credit scoring model using data of past defaults and then testing the model on that same data is an exercise in circularity: you’re predicting what you’ve explained already. Predictive analytics often sounds a bit like quantum mechanics: fiendishly complex to look at and wildly counter-intuitive. So when someone sells you a tool, how can you verify that the black box is fit for its purpose or even lives up to the vendor’s claims?
Harvard Business Review
FEBRUARY 20, 2015
It created all this anxiety among users, but they didn’t know how to influence the score, what behaviors were being measured. We all want to get that perfect score, and yet what’s the point of having a five-point scale if it’s “5 is great, anything less is bad”?
Harvard Business Review
FEBRUARY 19, 2018
Even China’s opaque behemoths have started the year with unprecedented acknowledgements of the need to address trust concerns: Tencent had to publicly deny that it collects user WeChat history after it was openly challenged; Alibaba’s Ant Financial apologized to users of its mobile-payment service for automatically enrolling them in its social-credit scoring service. You can find our scores on these dimensions across 42 countries in the graphic below.
Harvard Business Review
DECEMBER 20, 2013
and Barclays, scored a 740 on the GMAT, and climbed Mount Everest. BONUS BITS First Impressions The Science of Meeting People (Wired) Should Your Credit Score Matter on Job Interviews? A Bunch of Seemingly Smart People Look Who Harvard and Stanford B-Schools Just Rejected Fortune It''s not especially surprising that there''s steep competition to get into these two top business schools.
Harvard Business Review
MAY 17, 2017
Educational records, business histories, health care information, and credit ratings could all be made usable the world over, helping those who want to trade or travel to prove their credentials. Anybody who has ever paid too much for a college transcript or tried to clear a shadow on their credit score can see how systems like this would be helpful in our daily lives.
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