Credit scoring methods : latest trends and points to consider

Credit risk is the most significant risk by impact for any bank and financial institution. Accurate credit risk assessment affects an organisation's balance sheet and income statement, since credit risk strategy determines pricing, and might even influence seemingly unrelated domains, e.g. marketing, and decision-making. This article aims at providing a systemic review of the most recent (2016-2021) articles, identifying trends in credit scoring using a fixed set of questions. The survey methodology and questionnaire align with previous similar research that analyses articles on credit scoring published in 1991-2015. We seek to compare our results with previous periods and highlight some of the recent best practices in the field that might be useful for future researchers.