Strategy Driven

JANUARY 5, 2021

The state of our education system rests upon the hands of our teachers. If they cannot pay the installments back on time, they rack up a bad credit score, which makes it extremely difficult for them to apply for another loan. Many teachers can have a bad credit score due to late loan repayments or even late credit card payments.

Credit Scoring 82

Credit Scoring Banking Education Survey 82

Harvard Business Review

APRIL 26, 2017

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.

Banking 11

Banking Stage-Gate Credit Scoring Competitive Advantage 11

Harvard Business Review

DECEMBER 6, 2017

At the same time, we can anticipate friction as new forms of identity verification are integrated into old systems (technological, business, and social systems) with the potential for further erosions of privacy. Much like credit data, we could soon have a burgeoning cottage industry in what I call extrapolated uses of biometric data.

Crisis 9

Crisis Insurance Technology Credit Scoring 9

Harvard Business Review

FEBRUARY 20, 2015

Companies like Uber, Airbnb, and OpenTable have been in the news lately for rating their customers — rating systems that the users themselves are not always privy to. Without a good management system, these ratings can become perverse. You need a management system, or it becomes a way of punishing people.

Hotels 8

Hotels System Credit Scoring Sample 8

Harvard Business Review

SEPTEMBER 22, 2017

In other words, if you have ever borrowed money or been extended credit, then Equifax (along with Transunion and Experian, the other bureaus) was probably given your most sensitive personal information by a third party — information such as your date of birth, Social Security number, financial details, and credit score.

Information 8

Information Company Class Credit Scoring 8

Harvard Business Review

FEBRUARY 19, 2018

This friction has many causes — some are infrastructural or because of poor design and functionality; some are systemic, such as regulatory or legal requirements or identification and data security measures; and some are because of uncertainty between parties to the transaction. This translates into different ways to measure trust.

Survey 9

Survey Environment Technology Comparison 9

Harvard Business Review

DECEMBER 9, 2016

These software systems can in some cases be so efficient at screening resumes and evaluating personality tests that 72% of resumes are weeded out before a human ever sees them. Any HR manager using such a system needs to be aware of its limitations and have a plan for dealing with them.

Credit Scoring 8

Credit Scoring Software Efficiency Review 8

Harvard Business Review

MAY 17, 2017

Every transaction and its associated value are visible to anyone with access to the system. Simply copying the banking systems of the West, which have been built up over centuries, would not have been as easy or as effective for the people of Kenya and Tanzania. India’s Aadhaar biometric ID card system is a great example.

Marketing 8

Marketing Technology Banking Efficiency 8

Harvard Business Review

SEPTEMBER 21, 2012

Drug stores like CVS and Walgreens have been using this system for years to track customer behavior and get a full picture of purchasing patterns, loyalty trends, and lifetime customer value. In this case, shared identifiers can help to bridge different data sets and systems that otherwise might have trouble "speaking" to each other.

Insurance 15

Insurance Team Credit Scoring Retail 15

Harvard Business Review

AUGUST 10, 2018

Machine learning is the ideal technology for creating a set of predictive scores from a collection of data. Other AI technologies can also be used to extract data from transactional systems, or to analyze and quantify textual data.

Benchmarking 8

Benchmarking Software B2B GAAP 8

Harvard Business Review

NOVEMBER 8, 2012

Underwriting based on a credit officer's opinion used a lot of perspective about the applicant, but wasn't very scalable — there are only so many loan officers in the world. And, of course, the officers were using a small number of signals, and so there was systemic bias in the process.

Credit Risk 9

Credit Risk Credit Scoring Retail Technology 9

Harvard Business Review

FEBRUARY 1, 2016

These companies often benefit from having data scientists with software engineering backgrounds who can quickly build the systems that learn new trends in real time. Instead, a strong statistics background can ensure the credit models withstand rigorous statistical scrutiny and do not overfit the data. You and Your Team. race or sex).

Incubator 8

Incubator Credit Scoring Software Engineering 8

Harvard Business Review

NOVEMBER 6, 2018

In our Digital Evolution Index (DEI), we place them in the “digital south” which means the full deployment and adoption of online systems is still in development. The data will establish a social credit system expected to be both mandatory by 2020. billion citizens.

Airlines 10

Airlines Technology Objective Policies 10