DocumentCode
1750760
Title
Credit scoring for billions of financing decisions
Author
Nikravesh, Masoud
Author_Institution
Dept. of Electr. Eng. & Comput. Sci., California Univ., Berkeley, CA, USA
Volume
1
fYear
2001
fDate
25-28 July 2001
Firstpage
191
Abstract
When you apply for credit, whether it is for a new credit card, a car, a student loan, a mortgage, or financing, about forty pieces of information from your credit card report are fed into a statistical model. That model provides a numerical score designed to predict your risk as a borrower. We introduce fuzzy query and ranking as an alternative to predict the risk in an ever-changing world and an imprecise environment which includes subjective considerations for credit scoring. Fuzzy query and ranking is robust, provides better insight and a bigger picture, contains more intelligence about an underlying pattern in data and provides the ability of flexible querying and intelligent searching. This greater insight makes it easy for users to evaluate the results related to the stated criterion and make a decision faster with improved confidence. A fuzzy query is very useful for multiple criteria and when users want to vary each criterion independently with different degrees of confidence or weighting factor
Keywords
financial data processing; fuzzy logic; fuzzy set theory; query processing; risk management; confidence factor; credit card report; credit scoring; flexible querying; fuzzy logic; fuzzy query; fuzzy ranking; fuzzy set theory; intelligent searching; multiple criteria; numerical score; risk management; statistical model; weighting factor; Aggregates; Costs; Credit cards; Fuzzy logic; History; Information analysis; Loans and mortgages; Numerical models; Predictive models; Statistical analysis;
fLanguage
English
Publisher
ieee
Conference_Titel
IFSA World Congress and 20th NAFIPS International Conference, 2001. Joint 9th
Conference_Location
Vancouver, BC
Print_ISBN
0-7803-7078-3
Type
conf
DOI
10.1109/NAFIPS.2001.944250
Filename
944250
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