Crowdsourced Credit Rating Providers
"In a major challenge to the world's dominant credit rating agencies, two not-for-profit rating providers announced a strategic alliance today. Both of the NGOs – Wikirating and Public Sector Credit Solutions (PSCS) – employ crowdsourcing techniques to improve credit ratings.
Zurich-based Wikirating uses the same technology as Wikipedia to gather and aggregate information and views about credit quality for multiple categories of bonds. PSCS has released an open source software tool that calculates default probabilities for government bonds, along with fully transparent sample models and data sets.
Under the content sharing alliance, Wikirating will include PSCS models and data on its web site. This will provide participants in Wikirating polls with readily available information and analysis as they cast their votes. "We are excited about being included on the Wikirating portal," said Marc Joffe, founder of northern-California based PSCS and a former Senior Director at Moody's Analytics. "Wikirating achieved a high profile after its launch and has excellent technology that we are anxious to leverage." (http://news.yahoo.com/crowdsourced-credit-rating-providers-join-050100408.html)