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Credit

Credit Scoring

Also known as: Scoring crediticio, Score crediticio

Definition

Credit Scoring is the statistical/ML model that assigns a numeric score to an applicant's credit risk, generally between 300 and 850 (FICO-like models).

LATAM context

Every LATAM lender runs its own scoring model. Typical inputs: credit bureau history, verified income, expenses, job tenure, account behavior. finO$ supplies the inputs derived from bank statements.

Concrete example

A scoring model might use "average net monthly income, last 6 months" (extracted from bank statements with finO$) as one of 30+ features that predict default probability.

How it shows up on your bank statement

A score doesn't appear on the statement, but many of the variables that feed it get calculated from it: income volume and stability, the ratio of fixed expenses to income, average balance, and how often the account overdraws. That's why the quality of statement extraction directly shapes the quality of the score.

How does finO$ handle this?

finO$ doesn't generate the score itself (that's your IP), but it delivers the structured inputs your model needs: recurring income, filtered internal transfers, exposure to other lenders.

Related terms

Need to convert bank statements into structured data?

Just one file? Use the free converter to convert your bank statement to Excel.

Frequently asked questions about Credit Scoring

Does a bank statement help lend to someone with no credit history?

That's precisely where it adds the most value. Someone with no bureau history still has bank transactions, and those transactions show real ability to pay. It's the foundation for a lot of lending to traditionally underbanked segments.

Does a high score guarantee approval?

No. The score is one input into the decision, alongside risk policy, ability to pay and the specific product requested. Two applicants with the same score can get different answers depending on the amount and term they're asking for.