12
Nov
Technological advancement has given modern financial lenders an unparalled capacity to reduce lending risk, now that lenders can utilize more customer data than ever to make informed considerate lending decisions. Lenders stay in business when borrowers pay back loans. Some borrowers consistently make prompt payments while others are slow to repay and still others default – meaning they do not pay back the money they borrowed. So how do lenders distinguish between good borrowers and risky ones? They rely on various proprietary credit scoring systems that use past borrower repayment history and other factors to predict the likelihood of future…
