Recent technological advances increase the possibility of using qualitative data in risk models to ensure a timelier recognition of threats. News articles, which can be seen as a type of unstructured data, are flooding the world every day. However, one can imagine the time it would take to manually process all this information. Recent developments in natural language processing (NLP) show some very promising results in automating that task by a computer. We assess the possibilities of these recent advances within credit risk management.