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How Cashless Payments Affect Our Credit Worthiness

The Horizons Tracker

Traditionally, lenders use a range of criteria to assess our credit risk, but the new wave of fintechs entering the market tend to rely more on alternative data that goes beyond your credit score. Verifiable records.

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AI-Based Credit Risk Tools Can Be Ruined By Noisy Data

The Horizons Tracker

One’s credit score is often hugely important, with it very difficult to secure substantial loans, such as mortgages, without a healthy credit rating. The researchers themselves used AI to analyze vast quantities of consumer data, which allowed them to test various credit-scoring models. Risk assessment.

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Understanding Gen Z in the Workplace

HR Digest

Generation Z are known for being more responsible with their money than millennials, so they tend to have a higher credit score. They are also very innovative and come up with new ideas. Generation z work characteristics include looking for jobs that offer stability, flexibility, and growth opportunities.

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Black Entrepreneurship In The United States

The Horizons Tracker

The researchers believe that a part of this is due to poor financial literacy, with 82% of those African Americans surveyed lacking knowledge of things such as their credit score, or of the state agencies designed to help small businesses. Despite this, Black entrepreneurs make up just 3.5% of all business owners in the US.

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Study Suggests AI Could Reduce Bias In Car Finance

The Horizons Tracker

The researchers highlighted that discriminatory pricing practices, such as setting loan prices based on a customer’s credit score, may not be permissible in all countries. Many nations mandate that loans must be offered at the same price to all consumers, regardless of individual credit scores or other factors.

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Minority Entrepreneurs Still Face Discrimination When Seeking Finance

The Horizons Tracker

Equipped with business profiles that exceeded the criteria for loan qualification, the Black testers were furnished with even stronger profiles (including higher business income, longer operational history, greater funds in their accounts, and superior credit scores).

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All You Need to Know About Unsecured Business Loans

Strategy Driven

Credit Score: Your credit history is very important, to lend you money, banks will also want to know your credit scores and details about your credit card history. Tax Details: How much tax you have paid annually as an individual and how much you have paid as a business entity.