This report was recently updated on June 29 2024 with the latest and most recent
market numbers
Global AI in Credit Scoring Market Size, Trends & Analysis - Forecasts to 2029 By Component (Software and Service), By Application (Personal Credit Scoring and Corporate Credit Scoring), By Industry Vertical (BFSI (Banking, Financial Services, Insurance), Retail, Healthcare, Telecommunications, Utilities, and Real Estate) and By Region (North America, Asia Pacific, Central and South America, Europe, and Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and End User Analysis
The global AI in credit scoring market is expected to exhibit a CAGR of 26.5% from 2024 to 2029.
The global AI in credit scoring market is driven by advancements in machine learning algorithms and the increasing availability of big data. AI-powered credit scoring systems use massive volumes of data, including non-traditional data sources like social media activity, internet behavior, and transaction history, to better assess the creditworthiness of individuals and businesses than traditional techniques. This novel approach not only improves the precision of credit ratings but also allows financial institutions to give credit to a broader spectrum of consumers, including individuals with limited credit history.
One of the key drivers of this market is the demand for better risk assessment in the financial sector. Traditional credit scoring algorithms, which rely mainly on historical financial data and credit agency reports, frequently fail to reflect the whole financial behavior of potential borrowers. AI-powered credit scoring algorithms close this gap by assessing various and dynamic data sets, delivering a more complete picture of a person's creditworthiness. For example, firms like Zest AI and Upstart use machine learning algorithms to analyze hundreds of data points, resulting in more accurate and inclusive credit assessments that can lower default rates and improve financial inclusion.
Furthermore, legal reforms and a greater emphasis on financial inclusion drive AI deployment in credit rating. Governments and regulatory agencies worldwide recognize AI's potential to democratize credit access by offering more equitable and transparent credit ratings. For instance, the European Union's General Data Protection Regulation (GDPR) promotes using artificial intelligence (AI) to provide openness and accountability in credit scoring systems. Furthermore, emerging countries in Asia and Africa increasingly use AI-based solutions to increase credit availability to neglected people, where traditional credit data is frequently limited. As a result, the global AI in credit scoring market is poised for strong growth, altering the way creditworthiness is evaluated and contributing to a more equitable financial ecosystem.
Based on components, the global AI in credit scoring market is segmented into software and services. The software segment is anticipated to hold the largest market share, driven by the increasing adoption of advanced AI algorithms and platforms that enhance the accuracy and efficiency of credit scoring processes. AI-based software solutions utilize machine learning and big data analytics to analyze vast amounts of data from various sources, providing more comprehensive and accurate credit assessments. Companies like FICO and Equifax are investing heavily in AI-powered software to improve their credit scoring models, enabling lenders to make better-informed decisions and reduce default rates. These software solutions' scalability and integration capabilities make them a preferred choice for financial institutions seeking to modernize their credit assessment processes.
On the other hand, the services segment is expected to witness the fastest growth in the AI credit scoring market over the forecast period. This growth is fueled by the increasing demand for consulting, implementation, and maintenance services that help financial institutions effectively deploy and manage AI-based credit scoring systems. Services include initial setup, customization of AI models to fit specific business needs, ongoing support, and updates to ensure compliance with regulatory changes. Companies offering these services, such as Zest AI and Upstart, provide expertise and support to ensure their clients can maximize the benefits of AI technology in credit scoring. As financial institutions continue to adopt AI solutions, the demand for specialized services to optimize and sustain these systems is expected to rise, driving the rapid growth of the services segment.
The personal credit scoring segment is expected to hold the largest market share, driven by the widespread adoption of AI technologies by financial institutions to assess the creditworthiness of individual borrowers. AI-driven personal credit scoring solutions utilize a vast array of data points, including traditional financial data and alternative data sources like social media behavior, to provide a more accurate and comprehensive assessment of an individual’s credit risk. Companies like Upstart and Zest AI are at the forefront of this segment, offering innovative solutions that enable lenders to extend credit to a broader range of consumers, including those with limited or no credit history.
Conversely, the corporate credit scoring segment is anticipated to witness the fastest growth within the AI in credit scoring market. This rapid growth is attributed to the increasing complexity and volume of data associated with assessing businesses' credit risk. AI-based corporate credit scoring solutions can analyze many financial indicators, industry trends, and even macroeconomic factors to provide a more nuanced evaluation of a company's creditworthiness. Financial institutions and fintech companies are increasingly turning to AI to manage the risks associated with corporate lending, especially in the context of small and medium-sized enterprises (SMEs), which often lack extensive credit histories. As businesses globally seek to optimize their lending processes and better manage risks, the adoption of AI for corporate credit scoring is expected to accelerate, driving significant growth in this segment.
The global AI in credit scoring market can be segmented by industry vertical, with the BFSI sector anticipated to be the largest and fastest-growing segment over the forecast period. Banks are at the forefront of adopting AI-driven credit scoring solutions to enhance their risk assessment processes, improve decision-making, and expand their customer base. The integration of AI allows banks to analyze vast amounts of data, including non-traditional data sources, to provide more accurate and comprehensive credit evaluations. Major banks are investing heavily in AI technologies to stay competitive and meet the evolving demands of the financial landscape. For instance, institutions like JPMorgan Chase and Wells Fargo are leveraging AI to streamline their credit scoring processes, reduce default rates, and enhance customer satisfaction.
Meanwhile, the fintech companies are expected to witness rapid growth over the forecast period. Fintech firms are inherently tech-savvy and agile, making them quick to adopt and implement innovative AI solutions. These companies use AI to disrupt traditional credit scoring models, offering more inclusive and efficient credit evaluation processes. AI enables fintech firms to cater to underserved populations, such as those with thin credit files or no credit history, by utilizing alternative data sources for credit assessment. Companies like Upstart and LendingClub are leading the charge in this space, using AI to democratize access to credit and provide more personalized lending solutions. The rapid growth of fintech companies, combined with their focus on leveraging cutting-edge technologies, is driving the expansion of the AI in credit scoring market within this vertical.
Among regions, North America is expected to hold the largest market share over the forecast period. This dominance is primarily driven by the advanced technological infrastructure, significant investments in AI and big data analytics, and the presence of leading financial institutions and fintech companies in the region. In North America, particularly the United States, banks and financial services firms are extensively adopting AI to enhance their credit scoring models, reduce default rates, and offer more personalized financial products. Companies such as FICO, Equifax, and Experian are spearheading AI innovation in credit scoring, leveraging vast amounts of data and sophisticated algorithms to improve the accuracy and efficiency of credit assessments.
In contrast, the Asia Pacific region is anticipated to be the fastest-growing market for AI in credit scoring. This rapid growth is fueled by the increasing digitalization of financial services, a large unbanked population, and the proactive adoption of AI technologies by emerging economies such as China and India. In these countries, fintech companies are particularly vigorous in deploying AI-driven credit scoring solutions to extend credit to underserved populations, leveraging alternative data sources to assess creditworthiness. Governments and regulatory bodies in the region also support financial inclusion initiatives, further driving the adoption of AI in credit scoring. For instance, companies like Ant Financial in China and Paytm in India are utilizing AI to transform the credit landscape, making financial services more accessible and inclusive. This dynamic environment is propelling the Asia-Pacific region to become a key growth area for AI in credit scoring.
FICO (Fair Isaac Corporation), Experian, Equifax, TransUnion, Zest AI, LenddoEFL, Kreditech, CreditVidya, CreditXpert, Upstart, Pagaya, Underwrite.ai, Kensho Technologies, Scienaptic, DataRobot, Deserve, ClearScore, ScoreData, CredoLab, and Trust Science, among others are the top players in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
On June 3, 2024, Dispute AI®, a leading technology company, announced the launch of their highly anticipated DIY Credit Repair software powered by artificial intelligence (AI). This innovative software was designed to empower consumers to take control of their credit repair journey and achieve financial freedom.
1 STRATEGIC INSIGHTS ON NEW REVENUE POCKETS
1.1 Strategic Opportunity & Attractiveness Analysis
1.1.1 Hot Revenue Pockets
1.1.2 Market Attractiveness Score
1.1.3 Revenue Impacting Opportunity
1.1.4 High Growing Region/Country
1.1.5 Competitor Analysis
1.1.6 Consumer Analysis
1.2 Global Market Estimates' View
1.3 Strategic Insights across Business Functions
1.3.1 For Chief Executive Officers
1.3.2 For Chief Marketing Officers
1.3.3 For Chief Strategy Officers
1.4 Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into
2 TECHNOLOGICAL TRENDS
2.1 Technological Adoption Rate
2.2 Current Trend Impact Analysis
2.3 Future Trend Impact Analysis
3 GLOBAL AI IN CREDIT SCORING MARKET OUTLOOK
3.1 Market Pyramid Analysis
3.1.1 Introduction
3.1.2 Adjacent Market Opportunities
3.1.3 Ancillary Market Opportunities
3.2 Demand Side Analysis
3.2.1 Market Drivers: Impact Analysis
3.2.2 Market Restraints: Impact Analysis
3.2.3 Market Opportunities: Impact Analysis
3.2.4 Market Challenges: Impact Analysis
3.3 Supply Side Analysis
3.3.1 Porter’s Five Forces Analysis
3.3.1.1 Threat of New Entrants
3.3.1.2 Threat of New Substitutes
3.3.1.3 Bargaining Power of Suppliers
3.3.1.4 Bargaining Power of Buyers
3.3.1.5 Intensity of Competitive Rivalry
3.3.2 SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)
3.3.2.1 Political Landscape
3.3.2.2 Economic Landscape
3.3.2.3 Social Landscape
3.3.2.4 Technology Landscape
3.3.3 Value Chain Analysis
3.3.4 Trend Analysis
3.3.5 Gap Analysis
3.3.6 Cost Analysis
4 GLOBAL AI IN CREDIT SCORING MARKET, BY TYPE
4.1 Introduction
4.2 AI in Credit Scoring Market: Type Scope Key Takeaways
4.3 Revenue Growth Analysis, 2023 & 2029
4.4 Software
4.4.1 Software Market Estimates and Forecast, 2021-2029 (USD Million)
4.5 Service
4.5.1 Service Market Estimates and Forecast, 2021-2029 (USD Million)
5 GLOBAL AI IN CREDIT SCORING MARKET, BY INDUSTRY VERTICAL
5.1 Introduction
5.2 AI in Credit Scoring Market: Industry Vertical Scope Key Takeaways
5.3 Revenue Growth Analysis, 2023 & 2029
5.4 BFSI (Banking, Financial Services, Insurance)
5.4.1 BFSI (Banking, Financial Services, Insurance) Market Estimates and Forecast, 2021-2029 (USD Million)
5.5 Retail
5.5.1 Retail Market Estimates and Forecast, 2021-2029 (USD Million)
5.6 Healthcare
5.6.1 Healthcare Market Estimates and Forecast, 2021-2029 (USD Million)
5.7 Telecommunications
5.7.1 Telecommunications Market Estimates and Forecast, 2021-2029 (USD Million)
5.8 Utilities
5.8.1 Utilities Market Estimates and Forecast, 2021-2029 (USD Million)
5.9 Real Estate
5.9.1 Real Estate Market Estimates and Forecast, 2021-2029 (USD Million)
6 GLOBAL AI IN CREDIT SCORING MARKET, BY APPLICATION
6.1 Introduction
6.2 AI in Credit Scoring Market: Application Scope Key Takeaways
6.3 Revenue Growth Analysis, 2023 & 2029
6.4 Personal Credit Scoring
6.4.1 Personal Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
6.5 Corporate Credit Scoring
6.5.1 Corporate Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7 GLOBAL AI IN CREDIT SCORING MARKET, BY REGION
7.1 Introduction
7.2 North America AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.2.1 By Type
7.2.2 By Industry Vertical
7.2.3 By Application
7.2.4 By Country
7.2.4.1 U.S. AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.2.4.1.1 By Type
7.2.4.1.2 By Industry Vertical
7.2.4.1.3 By Application
7.2.4.2 Canada AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.2.4.2.1 By Type
7.2.4.2.2 By Industry Vertical
7.2.4.2.3 By Application
7.2.4.3 Mexico AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.2.4.3.1 By Type
7.2.4.3.2 By Industry Vertical
7.2.4.3.3 By Application
7.3 Europe AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.3.1 By Type
7.3.2 By Industry Vertical
7.3.3 By Application
7.3.4 By Country
7.3.4.1 Germany AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.3.4.1.1 By Type
7.3.4.1.2 By Industry Vertical
7.3.4.1.3 By Application
7.3.4.2 U.K. AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.3.4.2.1 By Type
7.3.4.2.2 By Industry Vertical
7.3.4.2.3 By Application
7.3.4.3 France AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.3.4.3.1 By Type
7.3.4.3.2 By Industry Vertical
7.3.4.3.3 By Application
7.3.4.4 Italy AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.3.4.4.1 By Type
7.3.4.4.2 By Industry Vertical
7.2.4.4.3 By Application
7.3.4.5 Spain AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.3.4.5.1 By Type
7.3.4.5.2 By Industry Vertical
7.2.4.5.3 By Application
7.3.4.6 Netherlands AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.3.4.6.1 By Type
7.3.4.6.2 By Industry Vertical
7.2.4.6.3 By Application
7.3.4.7 Rest of Europe AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.3.4.7.1 By Type
7.3.4.7.2 By Industry Vertical
7.2.4.7.3 By Application
7.4 Asia Pacific AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.1 By Type
7.4.2 By Industry Vertical
7.4.3 By Application
7.4.4 By Country
7.4.4.1 China AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.1.1 By Type
7.4.4.1.2 By Industry Vertical
7.4.4.1.3 By Application
7.4.4.2 Japan AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.2.1 By Type
7.4.4.2.2 By Industry Vertical
7.4.4.2.3 By Application
7.4.4.3 India AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.3.1 By Type
7.4.4.3.2 By Industry Vertical
7.4.4.3.3 By Application
7.4.4.4 South Korea AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.4.1 By Type
7.4.4.4.2 By Industry Vertical
7.4.4.4.3 By Application
7.4.4.5 Singapore AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.5.1 By Type
7.4.4.5.2 By Industry Vertical
7.4.4.5.3 By Application
7.4.4.6 Malaysia AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.6.1 By Type
7.4.4.6.2 By Industry Vertical
7.4.4.6.3 By Application
7.4.4.7 Thailand AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.7.1 By Type
7.4.4.7.2 By Industry Vertical
7.4.4.7.3 By Application
7.4.4.8 Indonesia AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.8.1 By Type
7.4.4.8.2 By Industry Vertical
7.4.4.8.3 By Application
7.4.4.9 Vietnam AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.9.1 By Type
7.4.4.9.2 By Industry Vertical
7.4.4.9.3 By Application
7.4.4.10 Taiwan AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.10.1 By Type
7.4.4.10.2 By Industry Vertical
7.4.4.10.3 By Application
7.4.4.11 Rest of Asia Pacific AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.4.4.11.1 By Type
7.4.4.11.2 By Industry Vertical
7.4.4.11.3 By Application
7.5 Middle East and Africa AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.5.1 By Type
7.5.2 By Industry Vertical
7.5.3 By Application
7.5.4 By Country
7.5.4.1 Saudi Arabia AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.5.4.1.1 By Type
7.5.4.1.2 By Industry Vertical
7.5.4.1.3 By Application
7.5.4.2 U.A.E. AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.5.4.2.1 By Type
7.5.4.2.2 By Industry Vertical
7.5.4.2.3 By Application
7.5.4.3 Israel AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.5.4.3.1 By Type
7.5.4.3.2 By Industry Vertical
7.5.4.3.3 By Application
7.5.4.4 South Africa AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.5.4.4.1 By Type
7.5.4.4.2 By Industry Vertical
7.5.4.4.3 By Application
7.5.4.5 Rest of Middle East and Africa AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.5.4.5.1 By Type
7.5.4.5.2 By Industry Vertical
7.5.4.5.2 By Application
7.6 Central and South America AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.6.1 By Type
7.6.2 By Industry Vertical
7.6.3 By Application
7.6.4 By Country
7.6.4.1 Brazil AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.6.4.1.1 By Type
7.6.4.1.2 By Industry Vertical
7.6.4.1.3 By Application
7.6.4.2 Argentina AI in Credit Scoring Estimates and Forecast, 2021-2029 (USD Million)
7.6.4.2.1 By Type
7.6.4.2.2 By Industry Vertical
7.6.4.2.3 By Application
7.6.4.3 Chile AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.6.4.3.1 By Type
7.6.4.3.2 By Industry Vertical
7.6.4.3.3 By Application
7.6.4.4 Rest of Central and South America AI in Credit Scoring Market Estimates and Forecast, 2021-2029 (USD Million)
7.6.4.4.1 By Type
7.6.4.4.2 By Industry Vertical
7.6.4.4.3 By Application
8 COMPETITIVE LANDCAPE
8.1 Company Market Share Analysis
8.2 Four Quadrant Positioning Matrix
8.2.1 Market Leaders
8.2.2 Market Visionaries
8.2.3 Market Challengers
8.2.4 Niche Market Players
8.3 Vendor Landscape
8.3.1 North America
8.3.2 Europe
8.3.3 Asia Pacific
8.3.4 Rest of the World
8.4 Company Profiles
8.4.1 FICO (Fair Isaac Corporation)
8.4.1.1 Business Description & Financial Analysis
8.4.1.2 SWOT Analysis
8.4.1.3 Products & Services Offered
8.4.1.4 Strategic Alliances between Business Partners
8.4.2 Experian
8.4.2.1 Business Description & Financial Analysis
8.4.2.2 SWOT Analysis
8.4.2.3 Products & Services Offered
8.4.2.4 Strategic Alliances between Business Partners
8.4.3 Equifax
8.4.3.1 Business Description & Financial Analysis
8.4.3.2 SWOT Analysis
8.4.3.3 Products & Services Offered
8.4.3.4 Strategic Alliances between Business Partners
8.4.4 TransUnion
8.4.4.1 Business Description & Financial Analysis
8.4.4.2 SWOT Analysis
8.4.4.3 Products & Services Offered
8.4.4.4 Strategic Alliances between Business Partners
8.4.5 Zest AI
8.4.5.1 Business Description & Financial Analysis
8.4.5.2 SWOT Analysis
8.4.5.3 Products & Services Offered
8.4.5.4 Strategic Alliances between Business Partners
8.4.6 LenddoEFL
8.4.6.1 Business Description & Financial Analysis
8.4.6.2 SWOT Analysis
8.4.6.3 Products & Services Offered
8.4.6.4 Strategic Alliances between Business Partners
8.4.7 Kreditech
8.4.7.1 Business Description & Financial Analysis
8.4.7.2 SWOT Analysis
8.4.7.3 Products & Services Offered
8.4.8.4 Strategic Alliances between Business Partners
8.4.8 CreditVidya
8.4.8.1 Business Description & Financial Analysis
8.4.8.2 SWOT Analysis
8.4.8.3 Products & Services Offered
8.4.8.4 Strategic Alliances between Business Partners
8.4.9 CreditXpert
8.4.9.1 Business Description & Financial Analysis
8.4.9.2 SWOT Analysis
8.4.9.3 Products & Services Offered
8.4.9.4 Strategic Alliances between Business Partners
8.4.10 Upstart
8.4.10.1 Business Description & Financial Analysis
8.4.10.2 SWOT Analysis
8.4.10.3 Products & Services Offered
8.4.10.4 Strategic Alliances between Business Partners
8.4.11 Pagaya
8.4.11.1 Business Description & Financial Analysis
8.4.11.2 SWOT Analysis
8.4.11.3 Products & Services Offered
8.4.11.4 Strategic Alliances between Business Partners
8.4.12 Underwrite.ai
8.4.12.1 Business Description & Financial Analysis
8.4.12.2 SWOT Analysis
8.4.12.3 Products & Services Offered
8.4.12.4 Strategic Alliances between Business Partners
8.4.13 Kensho Technologies
8.4.13.1 Business Description & Financial Analysis
8.4.13.2 SWOT Analysis
8.4.13.3 Products & Services Offered
8.4.13.4 Strategic Alliances between Business Partners
8.4.14 Scienaptic
8.4.14.1 Business Description & Financial Analysis
8.4.14.2 SWOT Analysis
8.4.14.3 Products & Services Offered
8.4.14.4 Strategic Alliances between Business Partners
8.4.15 DataRobot
8.4.15.1 Business Description & Financial Analysis
8.4.15.2 SWOT Analysis
8.4.15.3 Products & Services Offered
8.4.15.4 Strategic Alliances between Business Partners
8.4.16 Deserve
8.4.16.1 Business Description & Financial Analysis
8.4.16.2 SWOT Analysis
8.4.16.3 Products & Services Offered
8.4.16.4 Strategic Alliances between Business Partners
8.4.17 ClearScore
8.4.17.1 Business Description & Financial Analysis
8.4.17.2 SWOT Analysis
8.4.17.3 Products & Services Offered
8.4.17.4 Strategic Alliances between Business Partners
8.4.18 ScoreData
8.4.18.1 Business Description & Financial Analysis
8.4.18.2 SWOT Analysis
8.4.18.3 Products & Services Offered
8.4.18.4 Strategic Alliances between Business Partners
8.4.19 CredoLab
8.4.19.1 Business Description & Financial Analysis
8.4.19.2 SWOT Analysis
8.4.19.3 Products & Services Offered
8.4.19.4 Strategic Alliances between Business Partners
8.4.20 Trust Science
8.4.20.1 Business Description & Financial Analysis
8.4.20.2 SWOT Analysis
8.4.20.3 Products & Services Offered
8.4.20.4 Strategic Alliances between Business Partners
8.4.21 Other Companies
8.4.21.1 Business Description & Financial Analysis
8.4.21.2 SWOT Analysis
8.4.21.3 Products & Services Offered
8.4.21.4 Strategic Alliances between Business Partners
9 RESEARCH METHODOLOGY
9.1 Market Introduction
9.1.1 Market Definition
9.1.2 Market Scope & Segmentation
9.2 Information Procurement
9.2.1 Secondary Research
9.2.1.1 Purchased Databases
9.2.1.2 GMEs Internal Data Repository
9.2.1.3 Secondary Resources & Third Party Perspectives
9.2.1.4 Company Information Sources
9.2.2 Primary Research
9.2.2.1 Various Types of Respondents for Primary Interviews
9.2.2.2 Number of Interviews Conducted throughout the Research Process
9.2.2.3 Primary Stakeholders
9.2.2.4 Discussion Guide for Primary Participants
9.2.3 Expert Panels
9.2.3.1 Expert Panels Across 30+ Industry
9.2.4 Paid Local Experts
9.2.4.1 Paid Local Experts Across 30+ Industry Across each Region
9.3 Market Estimation
9.3.1 Top-Down Approach
9.3.1.1 Macro-Economic Indicators Considered
9.3.1.2 Micro-Economic Indicators Considered
9.3.2 Bottom Up Approach
9.3.2.1 Company Share Analysis Approach
9.3.2.2 Estimation of Potential Product Sales
9.4 Data Triangulation
9.4.1 Data Collection
9.4.2 Time Series, Cross Sectional & Panel Data Analysis
9.4.3 Cluster Analysis
9.5 Analysis and Output
9.5.1 Inhouse AI Based Real Time Analytics Tool
9.5.2 Output From Desk & Primary Research
9.6 Research Assumptions & Limitations
9.7.1 Research Assumptions
9.7.2 Research Limitations
LIST OF TABLES
1 Global AI in Credit Scoring Market, By Type, 2021-2029 (USD Mllion)
2 Software Market, By Region, 2021-2029 (USD Mllion)
3 Service Market, By Region, 2021-2029 (USD Mllion)
4 Global AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Mllion)
5 BFSI (Banking, Financial Services, Insurance) Market, By Region, 2021-2029 (USD Mllion)
6 Retail Market, By Region, 2021-2029 (USD Mllion)
7 Telecommunications Market, By Region, 2021-2029 (USD Mllion)
8 Healthcare Market, By Region, 2021-2029 (USD Mllion)
9 Utilities Market, By Region, 2021-2029 (USD Mllion)
10 Real Estate Market, By Region, 2021-2029 (USD Mllion)
11 Global AI in Credit Scoring Market, By Application, 2021-2029 (USD Mllion)
12 Personal Credit Scoring Market, By Region, 2021-2029 (USD Mllion)
13 Corporate Credit Scoring Market, By Region, 2021-2029 (USD Mllion)
14 Regional Analysis, 2021-2029 (USD Mllion)
15 North America AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
16 North America AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
17 North America AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
18 North America AI in Credit Scoring Market, By Country, 2021-2029 (USD Million)
19 U.S. AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
20 U.S. AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
21 U.S. AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
22 Canada AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
23 Canada AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
24 Canada AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
25 Mexico AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
26 Mexico AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
27 Mexico AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
28 Europe AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
29 Europe AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
30 Europe AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
31 Europe AI in Credit Scoring Market, By COUNTRY, 2021-2029 (USD Million)
32 Germany AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
33 Germany AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
34 Germany AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
35 U.K. AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
36 U.K. AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
37 U.K. AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
38 France AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
39 France AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
40 France AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
41 Italy AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
42 Italy AI in Credit Scoring Market, By End Use , 2021-2029 (USD Million)
43 Italy AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
44 Spain AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
45 Spain AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
46 Spain AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
47 Rest Of Europe AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
48 Rest Of Europe AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
49 Rest of Europe AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
50 Asia Pacific AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
51 Asia Pacific AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
52 Asia Pacific AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
53 Asia Pacific AI in Credit Scoring Market, By Country, 2021-2029 (USD Million)
54 China AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
55 China AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
56 China AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
57 India AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
58 India AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
59 India AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
60 Japan AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
61 Japan AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
62 Japan AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
63 South Korea AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
64 South Korea AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
65 South Korea AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
66 Singapore AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
67 Singapore AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
68 Singapore AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
69 Malaysia AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
70 Malaysia AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
71 Malaysia AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
72 Thailand AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
73 Thailand AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
74 Thailand AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
75 Indonesia AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
76 Indonesia AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
77 Indonesia AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
78 Vietnam AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
79 Vietnam AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
80 Vietnam AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
81 Taiwan AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
82 Taiwan AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
83 Taiwan AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
84 Rest of Asia Pacific AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
85 Rest of Asia Pacific AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
86 Rest of Asia Pacific AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
87 Middle East and Africa AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
88 Middle East and Africa AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
89 Middle East and Africa AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
90 Middle East and Africa AI in Credit Scoring Market, By Country, 2021-2029 (USD Million)
91 Saudi Arabia AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
92 Saudi Arabia AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
93 Saudi Arabia AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
94 UAE AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
95 UAE AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
96 UAE AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
97 Israel AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
98 Israel AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
99 Israel AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
100 South Africa AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
101 South Africa AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
102 South Africa AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
103 Rest of Middle East and Africa AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
104 Rest of Middle East and Africa AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
105 Rest of Middle East and Africa AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
106 Central and South America AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
107 Central and South America AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
108 Central and South America AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
109 Central and South America AI in Credit Scoring Market, By Country, 2021-2029 (USD Million)
110 Brazil AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
111 Brazil AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
112 Brazil AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
113 Argentina AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
114 Argentina AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
115 Argentina AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
116 Chile AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
117 Chile AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
118 Chile AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
119 Rest of Central and South America AI in Credit Scoring Market, By Type, 2021-2029 (USD Million)
120 Rest of Central and South America AI in Credit Scoring Market, By Industry Vertical, 2021-2029 (USD Million)
121 Rest of Central and South America AI in Credit Scoring Market, By Application, 2021-2029 (USD Million)
122 FICO (Fair Isaac Corporation): Products & Services Offering
123 Experian: Products & Services Offering
124 Equifax: Products & Services Offering
125 TransUnion: Products & Services Offering
126 Zest AI: Products & Services Offering
127 ENGIE: Products & Services Offering
128 Kreditech : Products & Services Offering
129 CreditVidya: Products & Services Offering
130 CreditXpert, Inc: Products & Services Offering
131 Upstart: Products & Services Offering
132 Pagaya: Products & Services Offering
133 Underwrite.ai: Products & Services Offering
134 Kensho Technologies: Products & Services Offering
135 Scienaptic: Products & Services Offering
136 Deserve: Products & Services Offering
137 ClearScore: Products & Services Offering
138 ScoreData: Products & Services Offering
139 CredoLab: Products & Services Offering
140 Trust Science: Products & Services Offering
141 DataRobot: Products & Services Offering
142 Other Companies: Products & Services Offering
LIST OF FIGURES
1 Global AI in Credit Scoring Market Overview
2 Global AI in Credit Scoring Market Value From 2021-2029 (USD Mllion)
3 Global AI in Credit Scoring Market Share, By Type (2023)
4 Global AI in Credit Scoring Market Share, By Industry Vertical (2023)
5 Global AI in Credit Scoring Market Share, By Application (2023)
6 Global AI in Credit Scoring Market, By Region (Asia Pacific Market)
7 Technological Trends In Global AI in Credit Scoring Market
8 Four Quadrant Competitor Positioning Matrix
9 Impact Of Macro & Micro Indicators On The Market
10 Impact Of Key Drivers On The Global AI in Credit Scoring Market
11 Impact Of Challenges On The Global AI in Credit Scoring Market
12 Porter’s Five Forces Analysis
13 Global AI in Credit Scoring Market: By Type Scope Key Takeaways
14 Global AI in Credit Scoring Market, By Type Segment: Revenue Growth Analysis
15 Software Market, By Region, 2021-2029 (USD Mllion)
16 Service Market, By Region, 2021-2029 (USD Mllion)
17 Global AI in Credit Scoring Market: By Industry Vertical Scope Key Takeaways
18 Global AI in Credit Scoring Market, By Industry Vertical Segment: Revenue Growth Analysis
19 BFSI (Banking, Financial Services, Insurance) Market, By Region, 2021-2029 (USD Mllion)
20 Retail Market, By Region, 2021-2029 (USD Mllion)
21 Telecommunications Market, By Region, 2021-2029 (USD Mllion)
22 HealthcareMarket, By Region, 2021-2029 (USD Mllion)
23 Utilities Market, By Region, 2021-2029 (USD Mllion)
24 Real Estate Market, By Region, 2021-2029 (USD Mllion)
25 Global AI in Credit Scoring Market: By Application Scope Key Takeaways
26 Global AI in Credit Scoring Market, By Application Segment: Revenue Growth Analysis
27 Personal Credit Scoring Market, By Region, 2021-2029 (USD Mllion)
28 Corporate Credit Scoring Market, By Region, 2021-2029 (USD Mllion)
29 Regional Segment: Revenue Growth Analysis
30 Global AI in Credit Scoring Market: Regional Analysis
31 North America AI in Credit Scoring Market Overview
32 North America AI in Credit Scoring Market, By Type
33 North America AI in Credit Scoring Market, By Industry Vertical
34 North America AI in Credit Scoring Market, By Application
35 North America AI in Credit Scoring Market, By Country
36 U.S. AI in Credit Scoring Market, By Type
37 U.S. AI in Credit Scoring Market, By Industry Vertical
38 U.S. AI in Credit Scoring Market, By Application
39 Canada AI in Credit Scoring Market, By Type
40 Canada AI in Credit Scoring Market, By Industry Vertical
41 Canada AI in Credit Scoring Market, By Application
42 Mexico AI in Credit Scoring Market, By Type
43 Mexico AI in Credit Scoring Market, By Industry Vertical
44 Mexico AI in Credit Scoring Market, By Application
45 Four Quadrant Positioning Matrix
46 Company Market Share Analysis
47 FICO (Fair Isaac Corporation): Company Snapshot
48 FICO (Fair Isaac Corporation): SWOT Analysis
49 FICO (Fair Isaac Corporation): Geographic Presence
50 Experian: Company Snapshot
51 Experian: SWOT Analysis
52 Experian: Geographic Presence
53 Equifax: Company Snapshot
54 Equifax: SWOT Analysis
55 Equifax: Geographic Presence
56 TransUnion: Company Snapshot
57 TransUnion: Swot Analysis
58 TransUnion: Geographic Presence
59 Zest AI: Company Snapshot
60 Zest AI: SWOT Analysis
61 Zest AI: Geographic Presence
62 LenddoEFL: Company Snapshot
63 LenddoEFL: SWOT Analysis
64 LenddoEFL: Geographic Presence
65 Kreditech : Company Snapshot
66 Kreditech : SWOT Analysis
67 Kreditech : Geographic Presence
68 CreditVidya: Company Snapshot
69 CreditVidya: SWOT Analysis
70 CreditVidya: Geographic Presence
71 CreditXpert, Inc.: Company Snapshot
72 CreditXpert, Inc.: SWOT Analysis
73 CreditXpert, Inc.: Geographic Presence
74 Upstart: Company Snapshot
75 Upstart: SWOT Analysis
76 Upstart: Geographic Presence
77 Pagaya: Company Snapshot
78 Pagaya: SWOT Analysis
79 Pagaya: Geographic Presence
80 Underwrite.ai: Company Snapshot
81 Underwrite.ai: SWOT Analysis
82 Underwrite.ai: Geographic Presence
83 Kensho Technologies: Company Snapshot
84 Kensho Technologies: SWOT Analysis
85 Kensho Technologies: Geographic Presence
86 Scienaptic: Company Snapshot
87 Scienaptic: SWOT Analysis
88 Scienaptic: Geographic Presence
89 Deserve: Company Snapshot
90 Deserve: SWOT Analysis
91 Deserve: Geographic Presence
92 ClearScore: Company Snapshot
93 ClearScore: SWOT Analysis
94 ClearScore: Geographic Presence
95 ScoreData: Company Snapshot
96 ScoreData: SWOT Analysis
97 ScoreData: Geographic Presence
98 CredoLab: Company Snapshot
99 CredoLab: SWOT Analysis
100 CredoLab: Geographic Presence
101 Trust Science: Company Snapshot
102 Trust Science: SWOT Analysis
103 Trust Science: Geographic Presence
104 DataRobot: Company Snapshot
105 DataRobot: SWOT Analysis
106 DataRobot: Geographic Presence
107 Other Companies: Company Snapshot
108 Other Companies: SWOT Analysis
109 Other Companies: Geographic Presence
The Global AI in Credit Scoring Market has been studied from the year 2019 till 2029. However, the CAGR provided in the report is from the year 2024 to 2029. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the AI in Credit Scoring Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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