When used appropriately, credit scoring can benefit multiple stakeholders, including lenders, borrowers, and the overall economy. For the lender, scoring leads to process automation which facilitates process improvements leading to many by products such as improved management information, control and consistency.
This is for very good reasons, but make no mistake: Europe will not strengthen its capacity in these areas if it cannot rely on a stronger economy and a more resilient monetary union.10 And let me be clear: we should only embark on new projects if there is a consensus that joint action is necessary, that it is clearly linked to people’s concerns and that it addresses a matter of European or global relevance.