Benchmarking state-of-the-art classification algorithms for credit scoring

In this paper, we study the performance of various state-of-the-art classification algorithms applied to eight real-life credit scoring data sets. Some of the data sets originate from major Benelux and UK financial institutions. Different types of classifiers are evaluated and compared. Besides the well-known classification algorithms (eg logistic regression, discriminant analysis, k-nearest neighbour, neural networks and decision trees), this study also investigates the suitability and performance of some recently proposed, advanced kernel-based classification algorithms such as support vector machines and least-squares support vector machines (LS-SVMs). The performance is assessed using the classification accuracy and the area under the receiver operating characteristic curve. Statistically significant performance differences are identified using the appropriate test statistics. It is found that both the LS-SVM and neural network classifiers yield a very good performance, but also simple classifiers such as logistic regression and linear discriminant analysis perform very well for credit scoring

A survey of the issues in consumer credit modelling research

Methods for assessing the credit risk when lending to consumers has been in operation for 50 years. Yet, there are probably now more opportunities and challenges for research into the development of this area than ever before. This paper surveys the development of the methodology, describes the current environment for consumer lending and seeks to identify some of the modelling areas and issues that are actively being researched or should be.<br/

Plug-and-play microvalve and micropump for rapid integration with microfluidic chips

This paper reports design, fabrication, and characterization of an air-actuated microvalve and a micropump made of thermoplastic materials. The bonding process was carried out by thermal fusion process with no particular surface treatment. The developed microvalve was used as a reversible switch for controlling both liquid flow and electrical field. Bonding strength of the fabricated microvalves could withstand liquid and air pressures of up to 600 kPa with no burst failure. The micropump made of three connected microvalves, actuated by compressed air, could generate a liquid flow rate of up to 85 µl/min. The proposed microvalve and micropump can be used as pre-fabricated off-the-shelf microfluidic functional elements for easy and rapid integration with thermoplastic microfluidic circuitries in a plug-and-play arrangement