Central bank of Belarus presented Creditinfo model for commercial banks

The National Bank of the Republic of Belarus recently presented the Creditinfo developed credit score in a specialized banking magazine.

„Some banks use local scores evaluating clients while others don‘t. Therefore credit scoring model will now reduce the technological gap between different banks. It will also unify the usage of credit information as well as enable banks to compare internally used scores with external one”, – National Bank describes the advantages at the article for banks. National Bank also mentions that new model will have positive effect on banks‘ expenditure treating with credit applications and will reduce the human factor while taking decisions. National Bank decided to entrust the score developing solution in 2014 to Creditinfo which guaranteed model Gini up to 60. In fact, our Econometrical modeling experts achieved Gini more than 69. Creditinfo won the international tender where also participated well known international companies such as Fair Isaac Corporation (FICO), Experian, Equifax  and others. The credit score provides an estimate of the likelihood that a private borrower will be unable to meet its debt obligations, 90 days or more, over the next 12 month period.