OPPORTUNITIES FOR DIGITALIZATION OF THE CREDITWORTHINESS ASSESSMENT

Dimitar Rafailov ()
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Dimitar Rafailov: University of Economics - Varna, Varna, Bulgaria

Economic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 139-150

Abstract: Creditworthiness assessment is an important element of financial management not only for credit institutions but also for many other “players” in the financial and the real sector of economy. Digitalization has the potential to increase the efficiency of this process by improving the collection, processing and analysis of information about borrowers. In this respect, big data, artificial intelligence and cloud services make possible to work with unstructured data and take into account non-financial parameters, including related to digital "life" and the psychological characteristics of credit seekers. Since the use of new financial technologies has some drawbacks, digitalization does not completely eliminate the need for human intervention in assessing the borrowers’ creditworthiness.

Keywords: technology adoption; digitalization; creditworthiness; credit check (search for similar items in EconPapers)
JEL-codes: G21 O33 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:cfdide:y:2020:i:1:p:139-150

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