Social Media’s Influence and Utilization in Augmenting FICO Credit Algorithms

By Larry Chiang Google “thin file analysis” I gave a seminal talk when I was a student who developed (and sold) a TFA model. My engineering work was so groundbreaking that they gave me an award for refrigerators. Credit, finance and risk modeling were over their heads. So, the powers-that-be gave me an engineering award on condenser coil optimization computer program. It optimized heat transfer off of a kitchen freezer. Lol, the conclusion was -1- blow harder -2- your puppy’s pet hair is clogging my condenser YOU MUST FIND YOUR PUPPY HAIR. What you’re asking about is ‘off credit report scoring’ Re How do I use social media to differentiate two people with the same FICO? Puppy hair clogging is your issue. NOW HUNT FOR YOUR PUPPY HAIR! For your “class”, I’d come to the conclusion that -1- debit data matters (to FICO credit data) -2- social media is quasi useless but extremely useful to work within (aka bend) the laws of the “Fair Credit Lending Act” -3- length of time w their current cell phone project -4- Google voice is all fraud. You’d think its be a pre-pay phone but nope. You’d be mistaken if you thought pre-pay phone holder was a bad credit risk -5- Picture. Do they have a social media picture?! -6- Amazon account. Here is a whopper. Is the email that they submitted…, linked to an Amazon account?!?!! It matters. Google “Marshmallow credit delayed gratification” This single data point is critical in social media credit underwriting Maybe, it’s because they read. Maybe it’s because they have delayed gratification in buying stuff for a lower price. Early research I did showed that – less money out IS GOOD – delayed grat is good – more money in is OK – net money left over at the end of each year and each month is good Key points. THERE IS NO HIGH LEVEL PERSPECTIVE. It’s all [this data set] ~> {this charge off ratio} Disclosure: I financially benefit from credit data, reading USA credit laws, co-authoring USA credit laws and forward engineering FICO scores. SLIDESHARE: What LARRY CHIANG, male heterosexual, Super Model Can Teach a Harvard MBA About Credit https://www.slideshare.net/larrychiang/what-a-super-model-can-teach-a-harvard-mba-about-credit American Express’ Under-Promoted Credit Truths at Mercedes Benz Fashion Week (MBFW)” https://t.co/inxTmZAj My Stanford Engineering video boils down 20,000 hours and moves you to the right on the entrepreneur bell curve CEO of Duck9 MIT University EIR (Entrepreneur in Residence) Duck9 = “Deep Underground Credit Knowledge” 9 125 University Avenue/ 100 Palo Alto CA 94301 https://www.duck9.com/ass 650-566-9600 650-566-9696 (direct) 650-283-8008 (cell) **************** Editor of the BusinessWeek Channel “What They Don’t Teach at Business School” https://whattheydontteachyouatstanfordbusinessschool.com/blog CNN Video Channel: https://ireport.cnn.com/people/larrychiang Read my last 10 tweets at https://www.Twitter.com/LarryChiang Author, NY Times Bestseller https://whattheydontteachyouatstanfordbusinessschool.com/blog/?s=Ny+times+bestseller “What They Will NEVER Teach You at Stanford Business School” comes out 11-11-14 https://www.fastcompany.com/embed/c0d4562ea2049 52 Cards. Two Jokers. What They DO Teach You at Stanford Engineering Emergency swings and cutting deals as an 9 year old ########## Duck9 is part of UCMS Inc. https://www.ucms.com 630-705-5555 More on #ENGR145’s SHIFTING right on the entrepreneur bell curve