Credit scorecard (Scorecard)
A credit scorecard is a model that assigns points to applicant characteristics, such as income, credit history and affordability signals, and sums them into a score that predicts the likelihood of a good or bad outcome. Lenders set cut-offs on the score to accept, refer or decline.
Scorecards can be statistically built (for example logistic regression) or expert, judgement-based rule sets. Each predictive characteristic is divided into bands, each band carries weight, and the total score maps to a risk grade.
Good scorecards are transparent, monitored for drift, and paired with policy rules (knockouts) for cases that scores alone should not pass or fail.
Credit Canary builds credit scorecard into one platform for UK lenders, with the data and decisioning behind it.
Decisioning EngineSee credit scorecard in a working platform
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