Callcredit and Fair Isaac Introduce Next Generation of Credit Risk Scoring for U.K. Lenders
Callcredit and Fair Isaac Corporation announce the launch of CallScore 2.0, a next-generation suite of credit risk scores. CallScore 2.0 has been developed exclusively for Callcredit by Fair Isaac and takes full advantage of analytical techniques in Fair Isaac's industry-proven FICO scoring technology. Utilising the availability of new data sets, it delivers significantly more predictive power than its predecessor, CallScore, which is already matching or exceeding the performance of rival scoring models.
CallScore 2.0 combines Fair Isaac's analytical capabilities with the diversity and richness of Callcredit's data. In particular, it harnesses the predictive power of Callcredit's unique time series data on credit balances, limits and monthly repayments, as well as innovative geo-demographic data from its Cameo and GeoRisk suites.
CallScore 2.0 features separate scorecard suites to support account opening and account management decisions. Using Fair Isaac's multiple scorecard technology to maximise risk prediction accuracy across a wide range of market areas, CallScore 2.0 also segments the market according to the quantity and quality of data returned on individuals, for example 'thin', 'clean' and 'adverse'. As a result, CallScore 2.0 comprises many empirically derived scoring models. Variants of each model are available which take into account the data access rights of the user – full SHARE, partial SHARE and public data only.
CallScore 2.0 is available online as an on-demand service - available 24/7. Also, CallScore 2.0 calculates scores in real time and delivers a score for each applicant/customer. In the case of joint credit applications, two scores are delivered, giving users the flexibility to base their lending decision on just one of the scores or a combination of the two – depending on their risk strategy. CallScore 2.0 also scrutinises the consumer's existing debt levels more thoroughly, which enables lenders to support responsible lending practices.
CallScore 2.0 is designed to maximise the use of eligible data under the revised Third Party Data Protection rules, enabling lenders to easily make use of Alert Decision and Household Override scores, when appropriate.
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