... all the more reason to clean up your credit rating while it's still possible to do so
(snip)" Computers often did a better job of assessing risk than human loan officers, Thiemann, 50, says.
``And that is where Wall Street is going,'' he says. Human traders will still provide insights into the markets, he says; more and more, however, those insights will be based on data rather than intuition.
Thiemann, who has a master's degree in engineering from Stanford University and an MBA from Harvard Business School, knows algorithms. During the '90s, he helped HNC Software Inc., now part of Fair Isaac, develop a tracking program called Falcon to spot credit card fraud.
Falcon, which today watches over more than 450 million credit and debit cards, uses computer models to evaluate the likelihood that transactions are bogus. It weighs that risk against customers' value to the credit card issuer and suggests whether to let the charges go through or terminate them. "(snip)
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