Artificial intelligence in credit scoring. An analysis of some experiences in the Italian financial system

Emilia Bonaccorsi Di Patti (emilia.bonaccorsidipatti@bancaditalia.it), Filippo Calabresi (filippo.calabresi@bancaditalia.it), Biagio De Varti (biagio.devarti@bancaditalia.it), Fabrizio Federico (fabrizio.federico@bancaditalia.it), Massimiliano Affinito, Marco Antolini (marco.antolini@bancaditalia.it), Francesco Lorizzo (francesco.lorizzo@bancaditalia.it), Sabina Marchetti, Ilaria Masiani (ilaria.masiani@bancaditalia.it), Mirko Moscatelli (mirko.moscatelli@bancaditalia.it), Francesco Privitera (francesco.privitera@bancaditalia.it) and Giovanni Rinna (giovanni.rinna@bancaditalia.it)
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Emilia Bonaccorsi Di Patti: Bank of Italy
Filippo Calabresi: Bank of Italy
Biagio De Varti: Bank of Italy
Fabrizio Federico: Bank of Italy
Marco Antolini: Bank of Italy
Francesco Lorizzo: Bank of Italy
Ilaria Masiani: Bank of Italy
Mirko Moscatelli: Bank of Italy
Francesco Privitera: Bank of Italy
Giovanni Rinna: Bank of Italy

No 721, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This report investigates the use of artificial intelligence and machine learning (AI-ML) techniques used by the Italian financial intermediaries to assess creditworthiness. The analysis aims to evaluate how financial intermediaries use AI-ML techniques for customer selection and management within credit processes, and to gather information on their awareness of specific risks that characterise such methodologies. Stemming from the theoretical analysis of conceptual determinants, techniques and legal/institutional context of AI-ML for credit scoring, the report provides insights on the survey on the adoption of such methodologies by financial intermediaries.

Keywords: artificial intelligence; machine learning; credit; credit scoring; algorithmic bias; discrimination (search for similar items in EconPapers)
JEL-codes: C52 G21 J15 J16 O32 (search for similar items in EconPapers)
Date: 2022-10
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_721_22

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