A survey - data mining frameworks in credit card processing

During the last two decades, the credit card system has been widely used as a mechanism to drive the global economy to grow dramatically. A credit card provider has issued millions of credit cards to its customers. However, issuing credit cards to wrong customers can be a crucial factor of a financial crisis, e.g., the ones happened in 1997 and 2008. This paper presents a systematic analysis and a comprehensive review of data mining techniques and their applications in the credit card process which we divide into 4 main activities. We have studied research works which were published between 2007 and the first quarter of 2015 inclusively. Our work focuses on data mining techniques applied specifically in the credit card process, and this makes our review different from others' which emphasize much wider areas. As a result, this survey can be useful for any credit card provider to select an appropriate solution for their problem and, also, for researchers to have a comprehensive view of the literature in this area.