Implementing a New Credit Score in Lender Strategies (UPDATED STUDY)

October 29, 2020

UPDATED for 2020

At first, the process of converting strategies to use newscores can seem overwhelmingly complex. Generic riskscores have become deeply embedded within strategiesand often strategy design is contingent upon the scoreperformance. In reality, there is just one central question that must beanswered for successfully converting a strategy to use anew credit score:

What is the value of the new score (NewScore) that represents the same default rate orpopulation volume designated by the previous score(OldScore)?

All conversion processes revolve around answering this question and essentially follow the same steps. The analytic and resource requirement for each step in the conversionprocess is determined by the complexity and magnitude ofthe specific strategy. Furthermore, the process must befollowed when converting from one version of a score to anew version or converting from one brand of score toanother brand.

Fill out the form below to download the Implementing a New Credit Score in Lender Strategies whitepaper.

Name(Required)
Subscribe to The VantageScore View:
This field is for validation purposes and should be left unchanged.

Related Articles

VantageScore Market Adoption Study 2019

2020 VantageScore Model Performance Assessment

VantageScore – Innovation History Timeline + 1st to Market list

Popular Articles

Consumer FAQ: Benefits of Adding Rent and Utility Data to a Credit File

Advantage of Adding Rent and Utility Data whitepaper

Credit with a Conscience fact sheet

Driving Financial Inclusion with Data and Analytics fact sheet

Credit Invisible No Longer: Examining the relationship between socioeconomic disparities and scoreability