Towards a Reference Architecture for Trusted Data Marketplaces: The Credit Scoring Perspective

Data sharing presents extensive opportunities and challenges in domains such as the public sector, health care and financial services. This paper introduces the concept of "trusted data marketplaces" as a mechanism for enabling trusted sharing of data. It takes credit scoring-an essential mechanism of the entire world-economic environment, determining access for companies and individuals to credit and the terms under which credit is provisioned-as an example for the realization of the trusted data marketplaces concept. This paper looks at credit scoring from a data perspective, analyzing current shortcomings in the use and sharing of data for credit scoring, and outlining a conceptual framework in terms of a trusted data marketplace to overcome the identified shortcomings. The contribution of this paper is two-fold: (1) identify and discuss the core data issues that hinder innovation in credit scoring; (2) propose a conceptual architecture for trusted data marketplaces for credit scoring in order to serve as a reference architecture for the implementation of future credit scoring systems. The architecture is generic and can be adopted in other domains where data sharing is of high relevance.