Fido Announces Filing of US Patent Application for Credit Scoring System and Method with Digital Footprints
MILAN, March 10, 2021 /PRNewswire/ -- Fido today announced that it has filed a nonprovisional patent application with the United States Patent and Trademark Office (USPTO) for providing a new credit score system and method with digital footprints.
- MILAN, March 10, 2021 /PRNewswire/ -- Fido today announced that it has filed a nonprovisional patent application with the United States Patent and Trademark Office (USPTO) for providing a new credit score system and method with digital footprints.
- Credit scoring using so-called hard information (income, employment time, assets and debts) is nothing new.
- First, hard information tends to be "procyclical": it boosts credit expansion in good times but exacerbates contraction during downturns.
- The service is functional to companies of any size (consumer credit companies, digital retailers, small start ups).