As credit behavior and economic conditions continue to evolve, using a model that is validated regularly can give lenders greater confidence in the model’s performance. VantageScore Solutions, LLC validates all its models annually to promote transparency and support financial institutions with model governance.
The results of the most recent validation demonstrate the consistent ability of VantageScore® 3.0 to accurately score more than 30 million to 35 million consumers considered unscoreable by other models — including 9.5 million Hispanic and African-American consumers.
The findings reinforce the importance of using advanced credit scoring models to make more accurate decisions while providing consumers with access to fair and equitable credit.
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