Banks get new tool to assess new to credit customers

Such new to credit customers were historically difficult to assess because they have no formal credit history. But they are the fastest growing borrower group for banks to tap, though lenders were cautious in giving them loans as there was no way to assess their default probability.

from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/personal-finance-news/banks-get-new-tool-to-assess-new-to-credit-customers/articleshow/82161708.cms