CTOS introduces credit score to evaluate consumers’ credit risks

Banking sector (combo photo).

KUALA LUMPUR: CTOS Data Systems Sdn Bhd, Malaysia’s largest private credit reporting agency, has introduced the CTOS Score, a credit score to enable a robust evaluations of consumers’ credit risks. 

In a statement, the company said CTOS Score was developed in partnership with FICO, a global leader in analytics and developer of the de facto standard for credit scores in the US. 

It said the CTOS Score evaluated credit risks based on five categories of predictive characteristics - payment history, amount owed, length of credit history, credit mix and new credit.

“Several leading banks in Malaysia have successfully validated the CTOS Score and commercial adoption is targeted for the second quarter of 2016,” it said.

It said given the challenges ahead, the banking sector had repeatedly told CTOS it needed better tools to assess loan applicants. - Bernama