Beyond Traditional Lending: Credit Product and Service Innovations

Frank J. Fabozzi

Chapter 4 in Credit Market Innovations:How Institutions, Technology, and Regulation Are Reshaping Global Lending, 2026, pp 89-143 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:Introduction: A New Paradigm in Credit Products and ServicesFinancial Inclusion and Expanding Credit AccessChallenges of traditional credit systemsAlternative credit scoring and risk assessmentMobile payments and financial inclusionConsumer Credit InnovationsBuy now, pay laterPayday loans and short-term creditIncome share agreements for student loansCredit cards, digital lending, and competition from fintechMortgage Product InnovationsExpanding access to mortgage creditAlternative Business Credit ModelsPeer-to-peer lendingCrowdfunding platformsMicrofinance and community lendingRegulatory ConsiderationsCase StudiesChallenges and RisksFuture OutlookSummary

Keywords: Credit; Innovation; Lending; Technology; Regulation; Risk; Institutions; Markets; Credit Risk; Securitization; Credit Scoring; Fintech; Private Credit; Structured Finance; Credit Instruments; Blockchain; Artificial Intelligence; Machine Learning; Stress Testing; Risk Models; Debt Markets; Digital Lending; Central Banks; Financial Regulation; Credit Cycles; Institutional Investors; Capital Markets; Credit Products; Legal Innovation; Market Structure; ESG; Macroprudential; Asset-backed Securities; CLOs; Credit Analytics; Big Data; Data Privacy; Financial Technology; Underwriting; Alternative Data; Credit Access; Risk Management; Credit Derivatives; Distributed Ledger; Tokenization; DeFi; Credit Enhancement; Yield Curves; Credit Spreads; Default Risk; Credit Innovation; Loan Syndication; Legal Frameworks; Compliance; Basel III; Systemic Risk; Lending Platforms; SME Lending; Consumer Credit; Mortgage-backed Securities; Securitized Products; Credit Performance; Credit Transformation; Credit Monitoring; Algorithmic Lending; Digital Identity; Financial Inclusion; Credit Exposure; Peer-to-peer Lending; Nonbank Lenders; Financial Infrastructure; Payment Systems; Real-time Data; Financial Resilience; Geopolitical Risk; Regulatory Arbitrage; Collateral; Capital Requirements; Loan Origination; Portfolio Risk; Operational Risk; Credit Risk Transfer; Data Analytics; Transparency; Investor Protection; Risk-adjusted Returns; Rating Agencies; Credit Default Swaps; Legal Risk; Structured Credit; Lending Innovation; Compliance Tech; Stress Scenarios; AI Credit Modeling; Privacy Laws; Quant Credit Models; Credit Policy; Regulatory Innovation; Market Transparency; Cyber Risk; Default Models (search for similar items in EconPapers)
JEL-codes: D82 G21 G28 G32 O33 (search for similar items in EconPapers)
Date: 2026
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