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What is Alternative Credit and How Can It Help Borrowers?

tillful

Over the past two decades, the financial services industry has been gravitating towards a more comprehensive approach to credit risk assessment. Credit scoring models alone don’t tell the whole story, so companies are looking to alternative credit data to fill in the gaps.

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FCA’s Consumer Duty Mandates Sharper Use of Technology

FICO Blog

They apply to both new and existing products and represent one of the single biggest compliance overhauls since the publication of the regulator’s Treating Customer Fairly Initiative in 2006. They’re also sound business practice and a solid pathway for dealing with customers – irrespective of where business is being transacted.