Incorporating biometric data into scoring
Biometric data are an integral characteristic of any person. The most popular sphere of application of biometric data is the identification of clients. But can biometrics, namely, facial features, help predict – will the borrower pay the loan or not?
FscoreLab conducted a study according to which biometric data are a significant factor in making credit decisions.
When biometric data are included “on the combat scoring” (addition to the remaining variables), the increment of gini is 0.2 – 1 pp (excluding the statistical error). The spread is related to different quality and quantity of variables from the client to the client, in which FscoreLab has already implemented the biometric inclusion.