61–70 of 85 posts
I'd love to understand what you expect to find (given that you might have some special insight into credit scoring). I'd guess that the "algorithm" could be an embarrassingly simple sum of thumbs up/down for a handful of items. Like: If a person lives in a thumbsup/thumbsdown/nothumbs neighborhood etc.
wrt algo - afaik the biggest credit rating agency in Germany is "just" using a logistic regression. details will follow.
This is pure advertisement. Please stop misusing our forum for ads.
Earlier quoted context omitted.
The data and credit scores are sent from the credit score agencies to each person directly (via snail-mail). After that they can decide to upload their "anonymized" data or not. In order to develop a privacy focused uploading process we started the crowdfunding campaign.
So you don't just need my data, you also want my money. Great! (sarcasm in case it's not clear)
SCHUFA is demanding a passport copy from EU citizens to obtain the annual unpaid data overview report. A citizen of an EU country residing in Germany is under no obligation to hold a passport. I don't understand how until now no one torn the SCHUFA credit bureau into pieces over it. https://i.imgur.com/nEZRJDv.png
> A citizen of an EU country residing in Germany is under no obligation to hold a passport. Any EU citizen needs a passport or equivalent in Germany. One needs it already when entering Germany. Though you don't need to carry it all time with you. But you need to have one.
there is a big difference between passport and normal ID, EU citizens dont need passports.
Earlier quoted context omitted.
The data and credit scores are sent from the credit score agencies to each person directly (via snail-mail). After that they can decide to upload their "anonymized" data or not. In order to develop a privacy focused uploading process we started the crowdfunding campaign.
So you don't just need my data, you also want my money. Great! (sarcasm in case it's not clear)
Earlier quoted context omitted.
wrt algo - afaik the biggest credit rating agency in Germany is "just" using a logistic regression. details will follow.
that is interesting! I'm very curious about the more :)
I work in the credit finance space. The first thing that jumps out to me is the security and privacy of people's credit data details. There is a lot of personal information that could be used for stealing one's identity. What assurances are there that this data is protected and anonymous?
And stealing identity isn't really a thing here. Like to open a bank account you still need to go to the post office with your ID which they then confirm, so knowing the things that schufa knows won't get you far.
As far as I understood it credit data companies in the US have a lot more info. Schufa has very basic things: "Opened account at X bank", "Got approved loan of 10k", "Signed a phone contract".
They don't have any insight into loan payments, individual transactions, or anything else really.
Earlier quoted context omitted.
Consumer's have a right to get an overview of all their collected data as well as the calculated (category) scores once each year for free. These could essentially serve as input output pairs.
I know what the reports contain. And I do not see how you could gather any meaningful insights from it.
Given enough inputs and outputs, you can figure out the formula.
Earlier quoted context omitted.
You have to identify youself somehow. I mean this is Germany, not the UK where you collect utility bills to justify your existence /s. In Germany as German you are obliged to have a valid identification document and as EU citizen just the same in case you are being asked for it. Wikipedia hast the links to the relevant laws https://de.wikipedia.org/wiki/Ausweispflicht#Deutschland
Why you're immediately teasing UK? They are exception in this regard. I'm talking about national IDs which most other EU (all but UK?) countries are issuing. Yet SCHUFA clearly demands passport in their instructions. In 6 different languages, 4 of which are official languages of the EU.
The farcical reason to scrap them comes from a government who's police force holds a large percentage of their population's faces - who are innocent - in a huge database and refuses to delete them. So yeah, it's dumb on all levels. Tease away at those muppets.
[0] https://www.theguardian.com/politics/2010/may/27/theresa-may...