Credit scoring is a crucial tool in determining access to credit, yet traditional systems have faced challenges such as biases, limited data consideration, and scalability issues, leading to inequalities in loan approvals and interest rates. AI, particularly generative AI, is being explored as a solution to these problems by leveraging alternative data sources and machine learning models to create more accurate and inclusive credit assessments. AI's ability to process vast datasets and adapt to changing economic conditions offers a comprehensive evaluation of creditworthiness, although concerns about transparency and potential biases persist. Generative AI further enhances this by synthesizing diverse data and providing explainability, despite the risk of hallucinations. Additionally, MongoDB has been instrumental in helping institutions like Amar Bank and Slice utilize alternative data and AI for faster, more inclusive credit processes, highlighting the transformative potential of technology in reshaping credit scoring.