A review of credit scoring research in the age of Big Data

C. Onay, E. Öztürk

Research output: Contribution to journalArticlepeer-review


This paper aims to survey the credit scoring literature in the past 41 years (1976-2017) and presents a research agenda that addresses the challenges and opportunities Big Data bring to credit scoring.

Content analysis methodology is used to analyze 258 peer-reviewed academic papers from 147 journals from two comprehensive academic research databases to identify their research themes and detect trends and changes in the credit scoring literature according to content characteristics.

The authors find that credit scoring is going through a quantitative transformation, where data-centric underwriting approaches, usage of non-traditional data sources in credit scoring and their regulatory aspects are the up-coming avenues for further research.

Practical implications
The paper’s findings highlight the perils and benefits of using Big Data in credit scoring algorithms for corporates, governments and non-profit actors who develop and use new technologies in credit scoring.

This paper presents greater insight on how Big Data challenges traditional credit scoring models and addresses the need to develop new credit models that identify new and secure data sources and convert them to useful insights that are in compliance with regulations.
Original languageEnglish
Pages (from-to)382-405
Number of pages23
JournalJournal of Financial Regulation and Compliance
Issue number3
Publication statusPublished - 9 Jul 2018


  • Big Data
  • Financial inclusion
  • Credit scoring
  • Access to credit
  • Data privacy
  • Discriminatory scoring


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