Does artificial intelligence have a role in credit scoring?

Powell Slaughter, July 19, 2017 HIGH POINT – Many potential buyers of home furnishings who don’t have a strong FICO score face a stumbling block when it comes to obtaining financing for their purchases. How can retailers and their financing partners tap those shoppers without taking too much risk? Furniture Today is exploring the use of artificial intelligence programs to get a measure of credit-worthiness among consumers who haven’t qualified for traditional financing. With the amount of shopping and information swapping happening online, do those activities create patterns that could help potential customers who don’t correspond to FICO measurements get approved for purchases of furniture and mattresses? We want to talk with retailers and credit providers to get their thoughts on the potential benefits – and the problems – related to using non-traditional credit measurements that could lead to more approvals for purchases while protecting against consumer defaults. Feel free to contact Powell Slaughter with your thoughts at pslaughter@furnituretoday.com or by phone at (336) 605-1123.


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