AI-Powered Credit Scoring for the Thin File and Informal Economy

This story was originally published on HackerNoon at: https://hackernoon.com/ai-powered-credit-scoring-for-the-thin-file-and-informal-economy. AI-powered credit scoring uses alternative data to help thin-file and informal borrowers access fair loans. Check more stories related to tech-stories at: https://hackernoon.com/c/tech-stories. You can also check exclusive content about #new-technology, #top-new-technology-trends, #ai, #credit-score, #e-commerce-business, #signal, #artificial-intelligence, #future-of-artificial-intellige, and more. This story was written by: @nikhilkassetty. Learn more about this writer by checking @nikhilkassetty's about page, and for more stories, please visit hackernoon.com. The decision to credit someone is being transformed by AI-driven credit scoring. This could be life-changing for thin-file borrowers and those who are in the informal economy. Traditional credit ratings assume that an individual has a bank account, formal financial products and has borrowed a loan or used a credit card previously.