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Title: FICO To Incorporate Buy-Now-Pay-Later Loans Into Credit Scores

Link: https://news.slashdot.org/story/25/06/23/1823...

FICO credit scores will begin incorporating buy-now-pay-later data for the
first time. From a report: With over 90 million Americans expected to use
BNPL for purchases this year, critics argue that existing credit scores paint
an incomplete picture of an individual's ability to pay back loans. Fair
Isaac Corp., which runs FICO, said Monday that it will launch two separate
credit scores including BNPL data. FICO Score 10 BNPL and FICO Score 10 T
BNPL will "represent a significant advancement in credit scoring, accounting
for the growing importance of BNPL loans in the U.S. credit ecosystem," the
company said in a statement. "These scores provide lenders with greater
visibility into consumers' repayment behaviors, enabling a more comprehensive
view of their credit readiness which ultimately improves the lending
experience," FICO added.

Read more of this story at Slashdot.

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