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Big Data Scoring

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have shown that "easily accessible digital records of behavior, Facebook Likes, can be used to automatically and accurately predict a range of highly sensitive personal attributes including: sexual orientation, ethnicity, religious and political views, personality traits, intelligence, happiness, use
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of 0.340. In order to build the model, Facebook data about individuals was collected in various European countries with prior permission from the individuals. This data was then combined with the actual loan payment information for the same people and the scoring models were built using the same
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exhibition start-up ALPHA program. In March 2013, Big Data Scoring was selected as one finalists of the Code_n competition, which is part of the
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Big Data Scoring collects vast amounts of data from publicly available online sources and uses it to predict individuals’ behavior by applying
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This results in more people receiving access to credit with a better interest rate thanks to increase of scoring model accuracy.
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used for credit scoring is done legally. According to the company, their solution requires a permission from the users of
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data is lacking, the added benefit can be even greater to people with little or even no credit history, for example:
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On April 9, 2013, the company announced that they have built a credit scoring model based purely on information from
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have cited invasion of privacy as an additional concern regarding using social media information in credit scoring.
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presented their solutions live on stage. The company has been featured in many on-line magazines, including
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to access their data and nothing is collected without the prior permission. Other sources such as
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service that lets consumer lenders improve loan quality and acceptance rates through the use of
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The company is not the first to show the predictive powers of Facebook data.
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Kosinski, Michal; David Stillwell; Thore Graepel (February 12, 2013).
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In October 2013, Big Data Scoring was selected as one finalist of the
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published a paper showing clear patterns in transactional data,
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of addictive substances, parental separation, age, and gender.
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tools used in building traditional credit scoring models.
73: 188: 95: 30:. The company was founded in 2013 and has offices in 600:"Rumor: Facebook 'likes' can hurt your credit score" 586:"We Are Not Data Mining From Social Media Illegally" 87:. According to the company, the scoring model has a 50:. The company's services are aimed at all lenders – 462:"FinovateFall 2015 - Big Data Scoring - Finovate" 623: 286:. Company web page. 9 April 2013. Archived from 78: 148:Predictive powers of big data in credit scoring 487:"When Facebook is bad for one's credit rating" 181:and external factors like the recent price of 637:Information technology companies of Estonia 368: 224:Big Data Scoring is working together with 161:, David Stillwell, and Thore Graepel from 632:Technology companies established in 2013 152: 624: 588:. Baltic Business News. May 8, 2013. 484: 74:Big data based credit scoring models 189:Press coverage and acknowledgements 96:Based on publicly available sources 13: 14: 658: 169: 592: 578: 554: 529: 504: 407:"WebSummit ALPHA Finalist List" 116:. In markets where traditional 478: 454: 430: 399: 362: 323: 294: 276: 262: 60:peer-to-peer lending platforms 1: 255: 228:in their Start Path program. 79:Based on Facebook information 369:Kallerhoff, Philipp (2013). 240:raised the question whether 231: 110:traditional in-house methods 104:data processing and scoring 7: 10: 663: 602:. MSN News. Archived from 438:"List of CODE_n finalists" 378:Filene Research Institute 175:Filene Research Institute 562:"Portfolio | Start Path" 236:Estonian business daily 163:University of Cambridge 350:Cite journal requires 306:www.bigdatascoring.com 64:microfinance providers 485:Pimentel, Benjamin. 153:Facebook information 272:. Company web page. 16:Cloud-based service 647:Big data companies 606:on August 29, 2013 387:on 8 December 2015 270:"Big Data Scoring" 566:www.startpath.com 139:recent immigrants 68:leasing companies 654: 616: 615: 613: 611: 596: 590: 589: 582: 576: 575: 573: 572: 558: 552: 551: 549: 547: 533: 527: 526: 524: 522: 508: 502: 501: 499: 497: 482: 476: 475: 473: 472: 458: 452: 451: 449: 443:. Archived from 442: 434: 428: 427: 425: 424: 418: 412:. Archived from 411: 403: 397: 396: 394: 392: 386: 380:. Archived from 375: 366: 360: 359: 353: 348: 346: 338: 336: 327: 321: 320: 318: 317: 308:. Archived from 298: 292: 291: 280: 274: 273: 266: 207:Big Data Scoring 89:Gini coefficient 20:Big Data Scoring 662: 661: 657: 656: 655: 653: 652: 651: 622: 621: 620: 619: 609: 607: 598: 597: 593: 584: 583: 579: 570: 568: 560: 559: 555: 545: 543: 535: 534: 530: 520: 518: 510: 509: 505: 495: 493: 483: 479: 470: 468: 460: 459: 455: 447: 440: 436: 435: 431: 422: 420: 416: 409: 405: 404: 400: 390: 388: 384: 373: 367: 363: 351: 349: 340: 339: 334: 328: 324: 315: 313: 300: 299: 295: 282: 281: 277: 268: 267: 263: 258: 234: 191: 172: 159:Michal Kosinski 155: 150: 98: 81: 76: 17: 12: 11: 5: 660: 650: 649: 644: 642:Credit scoring 639: 634: 618: 617: 591: 577: 553: 528: 503: 477: 453: 450:on 2014-05-27. 429: 398: 361: 352:|journal= 322: 293: 290:on 2014-05-29. 275: 260: 259: 257: 254: 233: 230: 201:exhibition in 190: 187: 171: 170:Public sources 168: 154: 151: 149: 146: 142: 141: 136: 127: 97: 94: 80: 77: 75: 72: 56:payday lenders 15: 9: 6: 4: 3: 2: 659: 648: 645: 643: 640: 638: 635: 633: 630: 629: 627: 605: 601: 595: 587: 581: 567: 563: 557: 542: 538: 532: 517: 513: 507: 492: 488: 481: 467: 463: 457: 446: 439: 433: 419:on 2013-11-02 415: 408: 402: 383: 379: 372: 365: 357: 344: 333: 326: 312:on 2015-10-22 311: 307: 303: 297: 289: 285: 279: 271: 265: 261: 253: 251: 247: 243: 239: 229: 227: 222: 220: 216: 212: 208: 204: 200: 196: 186: 184: 180: 176: 167: 164: 160: 145: 140: 137: 135: 131: 128: 126: 123: 122: 121: 119: 118:credit bureau 115: 111: 107: 103: 93: 90: 86: 71: 69: 65: 61: 57: 53: 49: 45: 41: 37: 33: 29: 25: 21: 608:. 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Retrieved 310:the original 305: 296: 288:the original 278: 264: 235: 223: 206: 192: 179:credit score 173: 156: 143: 125:young people 99: 82: 19: 18: 491:MarketWatch 391:25 November 242:data mining 211:MarketWatch 183:S&P 500 134:underbanked 114:bottom line 102:proprietary 24:cloud-based 626:Categories 610:August 27, 571:2015-11-27 471:2015-11-27 423:2014-04-15 316:2015-11-27 256:References 226:MasterCard 106:algorithms 546:March 13, 521:March 11, 496:March 13, 232:Criticism 195:Websummit 44:Indonesia 466:Finovate 250:MSN News 246:Facebook 203:Hannover 130:unbanked 85:Facebook 28:big data 516:PCWorld 238:Äripäev 215:PCWorld 36:Finland 48:Poland 541:eWeek 448:(PDF) 441:(PDF) 417:(PDF) 410:(PDF) 385:(PDF) 374:(PDF) 335:(PDF) 219:eWeek 199:CeBIT 52:banks 40:Chile 22:is a 612:2013 548:2014 523:2014 498:2014 393:2015 356:help 337:: 4. 217:and 132:and 66:and 46:and 628:: 564:. 539:. 514:. 489:. 464:. 376:. 347:: 345:}} 341:{{ 304:. 221:. 213:, 185:. 70:. 62:, 58:, 54:, 42:, 38:, 34:, 32:UK 614:. 574:. 550:. 525:. 500:. 474:. 426:. 395:. 358:) 354:( 319:.

Index

cloud-based
big data
UK
Finland
Chile
Indonesia
Poland
banks
payday lenders
peer-to-peer lending platforms
microfinance providers
leasing companies
Facebook
Gini coefficient
proprietary
algorithms
traditional in-house methods
bottom line
credit bureau
young people
unbanked
underbanked
recent immigrants
Michal Kosinski
University of Cambridge
Filene Research Institute
credit score
S&P 500
Websummit
CeBIT

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