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This project investigates the use of AI in credit score assessment within the banking industry, highlighting the limitations of traditional models that often overlook new-to-credit consumers. AI-driven approaches can enhance credit scoring by utilizing alternative data sources and behavioral patterns, promoting financial inclusion and personalized loan products. The project includes a timeline for research activities and aims to engage with industry professionals to gather insights.

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Dharani Amaram
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8 views

Synopsis_Group1 (2)

This project investigates the use of AI in credit score assessment within the banking industry, highlighting the limitations of traditional models that often overlook new-to-credit consumers. AI-driven approaches can enhance credit scoring by utilizing alternative data sources and behavioral patterns, promoting financial inclusion and personalized loan products. The project includes a timeline for research activities and aims to engage with industry professionals to gather insights.

Uploaded by

Dharani Amaram
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Synopsis: AI-Powered Credit

Score Assessment in Banking


Focus Area and Key Technologies
This project explores digital transformation in the banking industry for credit score assessment.
Traditional credit scoring models rely on vast historical data and are time-consuming. In contrast, AI-
driven models can analyze alternative data sources, behavioral patterns, and real-time financial
activities to provide a more accurate and optimized assessment of an individual's creditworthiness.
Problem Statement
Standard credit scoring systems (e.g., FICO, CIBIL) tend to miss new-to-credit consumers, freelancers,
and small entrepreneurs who do not have long credit histories. Banks require a more robust, data-
driven, equitable credit rating system that minimizes defaults and provides room for financial
inclusion.
Significance of the Problem
1. Importance – AI-driven credit scoring enables banks to offer personalized loan products, optimize
risk management, and expand credit access to underserved populations.
2. Features – AI models can review alternative data points, like social media activities,
utility payments, and payment history, giving a better understanding of risk.
3. Implications – AI-based credit scoring allows banks to provide tailored loan products, optimize risk
management, and provide increased credit access to the underserved.

Resource Person Identified


To obtain practical knowledge, we want to have an interaction with a data scientist, credit
risk professional, or an AI specialist in a bank or a fintech firm. Probable sources are:
• Bank professionals such as HDFC, ICICI, or SBI professionals working in credit risk and assessment.
• Companies like Zest Money, Cred, or Lending Kart utilize AI for alternate credit scoring.
• Researchers or consultants who have expertise in AI applications for banking and finance.

Project Timeline Plan


Task Deadline
1) Finalize research topic & team roles March 8, 2025
2) Conduct a review on AI in credit scoring March 10, 2025
3) Identify and reach out to a resource March 11, 2025
person
4) Design a questionnaire and conduct an March 14, 2025
interview
5) Analyze findings and relate them to March 15, 2025
DTIS concepts
6) Prepare Report and Submit March 18, 2025

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