On the Rise of FinTechs: Credit Scoring Using Digital Footprints

• 成果类型: Article
• 署名作者: Berg, Tobias; Burg, Valentin; Gombovic, Ana; Puri, Manju
• 署名单位: Frankfurt School Finance & Management; Humboldt University of Berlin; Technical University of Darmstadt; Duke University; National Bureau of Economic Research
• 刊物名称: REVIEW OF FINANCIAL STUDIES
• ISSN/ISSBN: 0893-9454
• DOI: 10.1093/rfs/hhz099
• 发表日期: 2020
• 页码: 2845
• 关键词: Relationship banking; financial services; INFORMATION

摘要

We analyze the information content of a digital footprint-that is, information that users leave online simply by accessing or registering on a Web site-for predicting consumer default. We show that even simple, easily accessible variables from a digital footprint match the information content of credit bureau scores. A digital footprint complements rather than substitutes for credit bureau information and affects access to credit and reduces default rates. We discuss the implications for financial intermediaries' business models, access to credit for the unbanked, and the behavior of consumers, firms, and regulators in the digital sphere.