The retail credit domain is characterised by data sets which are large in terms of number of cases, number of variables, and acquisition rate. Furthermore, the area presents many novel statistical and mathematical challenges, requiring the development of new methods. This paper outlines some of the areas in which the Consumer Credit Research Group has contributed to the industry over recent years, including developing newmeasures of loan application scorecard performance, tools for detecting fraudulent credit card transactions, and methods for tackling selection bias in fraud and other areas.
CITATION STYLE
Hand, D. J. (2016). Statistical challenges in retail credit analysis. In UK Success Stories in Industrial Mathematics (pp. 281–288). Springer International Publishing. https://doi.org/10.1007/978-3-319-25454-8_36
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