Today the Bank of Italy has published 'Artificial intelligence in credit scoring: an analysis of some experiences in the Italian financial system', the new issue of the 'Occasional Papers' series (Questioni di Economia e Finanza).
The paper was presented during an online event for financial intermediaries and providers in the sector.
The paper investigates the use of artificial intelligence and machine learning (AI-ML) techniques by Italian financial intermediaries to assess creditworthiness. The analysis aims to evaluate how financial intermediaries use AI-ML techniques for customer selection and management within their credit processes and to gather information on their awareness of the specific risks that characterize such methodologies.
Following a theoretical analysis of the conceptual and technical determinants and of the legal and institutional context of AI-ML for credit scoring, the report goes on to describe the findings of a survey on the adoption of such methodologies by financial intermediaries.