Credit scoring methods: latest trends and points to consider

Journal of Finance and Data Science. 2022. Vol. 8. P. 180–201.

Anton Markov, Zinaida Seleznyova, Victor Lapshin

Credit risk is the most significant risk by impact for any bank and financial institution.
Accurate credit risk assessment affects an organisation’s balance sheet and income
statement, since credit risk strategy determines pricing, and might even influence
seemingly unrelated domains, e.g. marketing, and decision-making. This article aims at
providing a systemic review of the most recent (2016–2021) articles, identifying trends
in credit scoring using a fixed set of questions. The survey methodology and
questionnaire align with previous similar research that analyses articles on credit
scoring published in 1991–2015. We seek to compare our results with previous periods
and highlight some of the recent best practices in the field that might be useful for
future researchers.

Keywords: statistics, survey, data mining, credit scoring, machine learning, performance assessment

Publication based on the results of: Model Risks in Financial Risk Estimation Problems (2021)