Tietoevry and Bislab challenge the credit assessment market

Data Catalog and Marketplace

Credit assessment services in Norway have seen little development over the past 20 years. Now, Tietoevry and Bislab are joining forces to launch a completely new model for credit assessment, aimed at enhancing debt management security in Norway.

The new model from Tietoevry and Bislab includes innovative scorecards for both personal and corporate markets. This advancement enables banks and other financial institutions to mitigate risk by making more informed decisions regarding who is eligible for debt.

Addressing debt issues

According to the Debt Register, Norwegian consumer debt increased by 13.5 billion NOK in 2024.

Credit assessment determines who can obtain consumer loans and other types of credit. The introduction of a national debt register has provided lenders with a broader decision-making basis than ever before. Access to data has never been better.

“It is crucial for society to have robust credit assessment models. The new model ensures that individuals do not take on debt they cannot manage, while those who can repay their loans are granted access. Loans and credit have become essential in today’s society, and we need tools that facilitate accurate assessments of borrowers to prevent the negative trend of rising total consumer debt,” says Ole Jonassen, Sales Director at Tietoevry.

Norway's most accurate credit assessment model

For a long time, credit assessments have relied on outdated and inflexible platforms. Bislab and Tietoevry have therefore developed a completely new platform for risk models based on modern technology, with unique access to data about both borrowers and loan objects.

The quality of credit assessment models is measured by the ROC (Receiver Operating Characteristic) standard. ROC evaluates how well a model differentiates between borrowers who can manage a loan and those who cannot.

“Our tests show that the new model consistently provides a more precise risk assessment, with a significant margin. A ROC score of 80 is considered very high quality in the market, while our model scores over 90. This means that together with Tietoevry, we have developed Norway's most accurate credit assessment model,” states Ole Kristian Haug, COO of Bislab.

The new model is designed for continuous development and improvement, and it can be easily adapted to local conditions or different markets.

“Norway is at the forefront of digital development and data utilization. With a tailored model, we can leverage available data in much smarter ways. This is Tietoevry's strength, and it has enabled us to build such an accurate model together,” Haug adds.

Ready for rollout across the banking and finance market

The market for credit assessment agencies in Norway is approximately half a billion NOK and operates effectively as a duopoly within the banking and finance sector. Tietoevry already has existing customer relationships with most of the country’s banks, providing data into their specialized systems, and is now prepared, alongside Bislab, to challenge traditional credit assessment agencies. The new solution will first be rolled out in the Norwegian market, while preparations are underway to expand into other Nordic countries.

“We are excited to provide both our and Bislab's customers access to the new model, and we are also open to new clients seeking more accurate credit assessments to reduce risk and approve more loans. In addition to the traditional banking and finance sector, municipalities in Norway that offer loan products to their residents will also be able to make more precise decisions,” Jonassen concludes.

Want to learn more about our new credit assessment model?

Contact us for an obligation-free conversation or demo with Ole Jonassen.