Credit Scoring — the 64-year-old algorithm meets a Black Swan
3 min readSep 2, 2020
Credit Scoring was created 64 years ago. It is time this legacy system was put into retirement…
The Fair Isaac Corporation created the credit score in 1956. Now age 64, the FICO has become the “most widely used scoring system” in the world. So, what happens when a 60-year old algorithm meets a Black Swan?
Neobank’s and crowd funders use AI to assess credit seamlessly. Xero, MYOB, and QuickBooks could do the same. Perpetual, dynamic AI solutions that credit score based on historical patterns and live…
