Neural network credit scoring models
Computers and Operations Research - Neural networks in business
Credit Scoring and Its Applications
Credit Scoring and Its Applications
The Ant System Applied to the Quadratic Assignment Problem
IEEE Transactions on Knowledge and Data Engineering
Genetic programming for credit scoring: The case of Egyptian public sector banks
Expert Systems with Applications: An International Journal
Evolving an edge selection formula for ant colony optimization
Proceedings of the 11th Annual conference on Genetic and evolutionary computation
Building credit scoring models using genetic programming
Expert Systems with Applications: An International Journal
Ant colony system: a cooperative learning approach to the traveling salesman problem
IEEE Transactions on Evolutionary Computation
Data mining with an ant colony optimization algorithm
IEEE Transactions on Evolutionary Computation
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This paper proposes a new technique for classification of creditworthiness based on Ant Colony Optimization (ACO). Our approach mimics the behavior of ants similar to the original ACO technique, but it encompasses new formulas for calculating heuristic values and for selecting pheromone accumulation path. We compare the performance of our ACO-based technique with the best known ACO-based implementation called AntMiner+. The results show that our ACO-based technique yields a 98.6% accuracy for both training and testing, whereas AntMiner+ yields only 71.8%. This significant improvement shows that a carefully crafted heuristic formula and attention to the characteristics of the credit scoring problem are vital to the quality of classification rules extracted by the ACO-based techniques.