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Browsing History Could Soon Be Used In Calculating Credit Scores

According to research from the International Monetary Fund (IMF), your internet habits – including browsing history – could soon be a factor in calculating your credit score.

The IMF writes, “The use of non-financial data will have large effects on the provision of financial services. Traditionally, banks rely on the analysis of customer financial information from payment flows and accounting records. The rise of the internet permits the use of new types of nonfinancial customer data, such as browsing histories and online shopping behavior of individuals, or customer ratings for online vendors.”

The IMF cites research suggesting that “combining credit scores and digital footprint further improves loan default predictions.” The additional data can be used for more individualized risk assessment, and therefore more accurate risk assessment.

However, the IMF warns that there would be an “efficiency-privacy trade-off.”

“These advantages come at the risk that hard information may become monopolized,” the paper says. “Bigtech firms and other platforms may have privileged access to customer data, or their scale provides them with relative advantages in collecting and processing information. There is a tension between the private accumulation of data on the one hand and the increased public availability of data on the other hand.”

The IMF states that the adoption of new technology is usually a “medium-term process” but the economic shock caused by the COVID-19 pandemic could spur that process.

The paper says, “external shocks – such as the ongoing COVID-19 crisis – can make the adoption of financial innovation more rapid, and amplify its effects on the financial industry structure.”

“Digital platforms may strengthen their market position thanks to higher demand for digital services, and leverage upon their balance sheet strength to penetrate new markets more easily,” the paper explains. “In contrast, banks may have to prioritize crisis management and postpone investment in digital transformation. Prudential regulators may be softer in responding to medium-term prudential risks, including those from new technology-driven entrants, as they focus on restarting lending. In this context, the ongoing COVID-19 crisis makes the response to information and communication innovation in finance an even more urgent policy priority.”

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13 responses to “Browsing History Could Soon Be Used In Calculating Credit Scores”

  1. Wolv256 says:

    Hey, government… porn, ok! I browse lots of porn on my computer. Now fuck off! If you have a problem with that, I will take my business elsewhere.

  2. Wolv256 says:

    Asking that question has just lowered your credit score by two points… hail Satan.

  3. DarthSarkas says:

    TFW 0 or No credit score is your goal anyway. Though this could bump people up to Bad…

  4. Lv99_Mastermind says:

    Anyone know any good VPN IPOs to invest in?

  5. Ozzy says:

    Going off grid looks better and better with each passing day

  6. Avengeance says:

    The real question is, how are we going to escape this? At what point will there be an uproar? We can only run for so long before there’s no where else to go. Are we really experiencing a modern WW2?

    also would using Brave and proton mail help? Glad I’m stopping using Gmail, but there is already too much information on there. I’m sure that they have all that information logged in case of trying to delete.

  7. CNN_sucks says:

    Have you ever notice if you do goolag search they based on your race approriation? goolag is racist.

  8. Devilsgun says:

    Global De-Karenization must occur, at any and all costs. These fucking bitch-made people are going to destroy humanity with their pedantic nit-picking, love of authoritarian fucks, and incessant need for ‘safety’ and ‘convenience’

    Shit like this is precisely why we must get the alt-economy going immediately and lock these non-productive parasite class fucks out of it. Get this shit off of our backs!

  9. KDiddy says:

    Well, if it’s one thing we can count on, it’s their greed. Above all other feelings towards you and anyone they consider lesser, being out of their way and collecting your money is just about all they want. In ways, that data will be used to target individuals who are contrary to their popular belief and in other ways it will allow them to figure out what areas they can begin to market in that they aren’t already. If you make poor comments and become a problem, your emails and searches will be monitored. Shucks, my email to to the pitch line got me some interesting ads so don’t even think you have to write something against the narrative. That’s what I get for using gmail. You can do a lot to prevent this data collection, but the path the world is taking, isn’t towards lesser computer involvement, it’s towards integration. What kind of integration, well we can look back at history to see what others have done with knowledge. Neurolink, plug yourself in like Neo and learn the number line, only for 1000 bit coin! It still bothers me that there aren’t more youtube professors, but something tells me educational content is put at the bottom and I know for sure searching for the knowledge you need to move forward is becoming harder and harder. If they could make it so that you never get an answer to your question in the Google search bar, they would. I’d love to think you have a little guardian angel in there, guiding your searches towards the knowledge you require, hahaha, but you don’t, not even close. You’d just be redirected and brainwashed into buying something every time you try to search. One time, my BBQ caught fire with a bunch of grease in it, I tried to look up, how to put out a grease fire. Guess what came up? You try it. Do not starting a grease fire but looking up something you would need to know in an emergency on and see what comes up. thankfully my friend Sir Rodrick of Nuttinhand (60 years old… every year) knew to use baking soda. I’ve written some wacky and nutz things into comment boxes in my day. Some I am proud of, some I hope I read again. I’ll have much to explain if anyone ever decides they would like to judge me for what I’ve searched and written. If I can take the fifth I will, but otherwise I’ll just plead insanity. LINUX

  10. prcntm says:

    Yeah, this is literally a Social Credit Score. I mean LITERALLY. Not even a veiled attempt at hiding it. This is an outright Social Credit Score.

  11. Maiafay says:

    Yeah, go fuck yourself, IMF.

  12. Wolv256 says:

    No. Fuck you! You will not lower my credit score because I read TimCast and the Daily Wire. I will live in a free country and I will fight you to defend it. Eat shit, you authoritarian scumbags. I hope there is a special place in Hell for you to burn.

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