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Credit Score Prediction Using Machine Learning

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Machine Learning and Information Processing

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 1311))

Abstract

A strong financial and economic status of a country is necessary for the well-being of all the citizens. A big part of the financial ecosystem is the banking system. They help the economy to grow by lending loans to corporations and individuals who use this money by investing in some enterprise or business. This cash flow is essential in any healthy economy. Consequently, the unpaid or nonperforming loans put stress on economy. To deal with this situation, Banks and credit card companies estimate credit score. This score provides an idea regarding the lender’s ability to make the repayment. To facilitate and improve the credit score prediction, we worked on a number of algorithms like linear regression, logistic regression and K-Nearest Neighbor algorithm (KNN). Using KNN algorithm along with some statistical work on dataset, we were able to obtain a very healthy accuracy of 89%.

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Author information

Authors and Affiliations

  1. Computer Engineering Department, Pandit Deendayal Petroleum University, Gandhinagar, Gujarat, India

    Debabrata Swain

  2. Department of Information and Technology, Vishwakarma Institute of Technology, Pune, India

    Raunak Agrawal, Ayush Chandak, Vedant Lapshetwar, Naman Chandak & Ashish Vaswani

Authors
  1. Debabrata Swain
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  2. Raunak Agrawal
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  3. Ayush Chandak
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  4. Vedant Lapshetwar
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  5. Naman Chandak
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  6. Ashish Vaswani
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Corresponding author

Correspondence to Debabrata Swain .

Editor information

Editors and Affiliations

  1. Department of Computer Science, Rama Devi Women’s University, Bhubaneswar, Odisha, India

    Debabala Swain

  2. School of Computer Engineering, Kalinga Institute of Industrial Technology Deemed University, Bhubaneswar, Odisha, India

    Prasant Kumar Pattnaik

  3. Oak Ridge National Laboratory, Tennessee, TN, USA

    Tushar Athawale

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Swain, D., Agrawal, R., Chandak, A., Lapshetwar, V., Chandak, N., Vaswani, A. (2021). Credit Score Prediction Using Machine Learning. In: Swain, D., Pattnaik, P.K., Athawale, T. (eds) Machine Learning and Information Processing. Advances in Intelligent Systems and Computing, vol 1311. Springer, Singapore. https://doi.org/10.1007/978-981-33-4859-2_7

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