Comprehensive Guide to Automated Credit Scoring Process

Credit scoring and analysis are crucial components of the lending process. In 2020, the global credit scoring market size was valued at $2.65 billion and is expected to reach $8.57 billion by 2027, growing at a CAGR of 16.2% from 2020 to 2027.

It is a more comprehensive process which includes evaluating the borrower’s financial statements, credit history, and other relevant information to determine the borrower’s ability to repay the loan and make informed decisions about whether or not to extend credit. With so many high-value credit applications to evaluate and qualify, credit professionals need to make sure they make quick and accurate decisions.
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