Copyright © 2025 Authors retain the copyright of this article. This article is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

@article{180131,
        author = {Gopalan P and Dr. Sathya Devi},
        title = {Expanding Inclusivity: The Adoption of Alternative Credit Scoring by Private Banks and NBFCs},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {12},
        number = {1},
        pages = {957-964},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=180131},
        abstract = {The adoption of alternative credit scoring holds significant potential for enhancing financial inclusion and improving risk assessment in private banks and NBFCs. This study investigates how alternative credit scoring impacts financial inclusion in rural areas. Data was collected from 10 loan processing executives at various private banks and NBFCs in Kerala's Palakkad district. Findings reveal that alternative credit scoring is effective in reaching underserved populations and reducing default rates. However, challenges such as limited fintech collaboration, inconsistent use of non-traditional data, and insufficient investment in model development impede widespread adoption. Lack of strategic alignment, and infrastructure gaps further hinder integration. Critical enablers include robust data privacy practices, top management support, comprehensive databases, and customer trust.},
        keywords = {Alternate credit scoring, financial inclusion.},
        month = {June},
        }