Operations research in consumer finance: challenges for operational research
Operations research in consumer finance: challenges for operational research
Consumer finance has become one of the most important areas of banking both because of the amount of money being lent and the impact of such credit on the global economy and the realisation that the credit crunch of 2008 was partly due to incorrect modelling of the risks in such lending. This paper reviews the development of credit scoring,-the way of assessing risk in consumer finance- and what is meant by a credit score. It then outlines ten challenges for Operational Research to support modelling in consumer finance. Some of these are to developing more robust risk assessment systems while others are to expand the use of such modelling to deal with the current objectives of lenders and the new decisions they have to make in consumer finance
University of Southampton
Thomas, L.C.
a3ce3068-328b-4bce-889f-965b0b9d2362
2009
Thomas, L.C.
a3ce3068-328b-4bce-889f-965b0b9d2362
Thomas, L.C.
(2009)
Operations research in consumer finance: challenges for operational research
(Discussion Papers in Centre for Operational Research, Management Science and Information Systems, CORMSIS-09-06)
Southampton, UK.
University of Southampton
Record type:
Monograph
(Discussion Paper)
Abstract
Consumer finance has become one of the most important areas of banking both because of the amount of money being lent and the impact of such credit on the global economy and the realisation that the credit crunch of 2008 was partly due to incorrect modelling of the risks in such lending. This paper reviews the development of credit scoring,-the way of assessing risk in consumer finance- and what is meant by a credit score. It then outlines ten challenges for Operational Research to support modelling in consumer finance. Some of these are to developing more robust risk assessment systems while others are to expand the use of such modelling to deal with the current objectives of lenders and the new decisions they have to make in consumer finance
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Consumer_Finance_wp.pdf
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Published date: 2009
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Local EPrints ID: 71319
URI: http://eprints.soton.ac.uk/id/eprint/71319
PURE UUID: 355db45f-d386-4d2b-aaa2-5a1589b236a5
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Date deposited: 03 Feb 2010
Last modified: 13 Mar 2024 20:24
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Author:
L.C. Thomas
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