South Africa
Credit scoring is used throughout the credit industry in South Africa, with the likes of banks, micro-lenders, clothing retailers, furniture retailers, specialised lenders and insurers all using credit scores. Currently all four retail credit bureaux offer credit bureau scores. The data stored by the credit bureaus include both positive and negative data, increasing the predictive power of the individual scores. TransUnion (formerly ITC) offer the Empirica Score which is, as of mid 2010, in its 4th generation. The Empirica score is segmented into two suites: the account origination (AO) and account management (AM). Experian South Africa likewise have a Delphi credit score with their fourth generation about to be released (late 2010). Compuscan released CompuScore ABC in 2011. The scoring suite predicts the probability of customer default throughout the credit life-cycle.
Read more about this topic: Credit Score
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