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On the Rise of FinTechs: Credit Scoring Using Digital Footprints

Publication ,  Journal Article
Berg, T; Burg, V; Gombović, A; Puri, M
Published in: Review of Financial Studies
July 1, 2020

We analyze the information content of a digital footprint - that is, information that users leave online simply by accessing or registering on a Web site - for predicting consumer default. We show that even simple, easily accessible variables from a digital footprint match the information content of credit bureau scores. A digital footprint complements rather than substitutes for credit bureau information and affects access to credit and reduces default rates. We discuss the implications for financial intermediaries' business models, access to credit for the unbanked, and the behavior of consumers, firms, and regulators in the digital sphere. (JEL G20, G21, G29)

Duke Scholars

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Published In

Review of Financial Studies

DOI

EISSN

1465-7368

ISSN

0893-9454

Publication Date

July 1, 2020

Volume

33

Issue

7

Start / End Page

2845 / 2897

Related Subject Headings

  • Finance
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 1502 Banking, Finance and Investment
  • 1402 Applied Economics
  • 1401 Economic Theory
 

Citation

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Berg, T., Burg, V., Gombović, A., & Puri, M. (2020). On the Rise of FinTechs: Credit Scoring Using Digital Footprints. Review of Financial Studies, 33(7), 2845–2897. https://doi.org/10.1093/rfs/hhz099
Berg, T., V. Burg, A. Gombović, and M. Puri. “On the Rise of FinTechs: Credit Scoring Using Digital Footprints.” Review of Financial Studies 33, no. 7 (July 1, 2020): 2845–97. https://doi.org/10.1093/rfs/hhz099.
Berg T, Burg V, Gombović A, Puri M. On the Rise of FinTechs: Credit Scoring Using Digital Footprints. Review of Financial Studies. 2020 Jul 1;33(7):2845–97.
Berg, T., et al. “On the Rise of FinTechs: Credit Scoring Using Digital Footprints.” Review of Financial Studies, vol. 33, no. 7, July 2020, pp. 2845–97. Scopus, doi:10.1093/rfs/hhz099.
Berg T, Burg V, Gombović A, Puri M. On the Rise of FinTechs: Credit Scoring Using Digital Footprints. Review of Financial Studies. 2020 Jul 1;33(7):2845–2897.
Journal cover image

Published In

Review of Financial Studies

DOI

EISSN

1465-7368

ISSN

0893-9454

Publication Date

July 1, 2020

Volume

33

Issue

7

Start / End Page

2845 / 2897

Related Subject Headings

  • Finance
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 1502 Banking, Finance and Investment
  • 1402 Applied Economics
  • 1401 Economic Theory