Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Credit assessment
A method for forecasting customer behavior. Using data on a specific person, other people with the same characteristics are grouped together. In this way, the payment behaviour and risk of the group are calculated.
Borrower characteristics
There are various rating classes in the credit rating scale. Points are assigned on the basis of borrower characteristics such as place of residence, occupation, collateral, etc., and these are then combined into a single credit rating grade. This then makes it easier to decide whether to grant a loan. If the creditworthiness is sufficient, a loan can be granted.
Scoring
Rules and algorithms of scoring are called "scorecard". Techniques to develop scorecards are logistic regression, discriminant analysis, artificial neural networks and other data mining methods.