https://techcrunch.com/2022/07/24/these-fintech-startups-want-to-make-credit-scores-a-thing-of-the-past/ > Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. — Mary Ann > Credit scores have been around since 1989, or for over three decades. They are also known as FICO scores; and FICO stands for Fair Isaac Corporation. The Consumer Financial Protection Bureau (CFPB) describes FICO as “a pioneer” in developing a method for calculating credit scores based on information collected by credit reporting agencies. Many financial institutions have long touted the FICO score as an equitable way to determine a person’s creditworthiness. Whether or not you can take out a home loan and how much interest you pay is based on your FICO score. The higher it is, the better chances you have.