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The FICO® Score is the standard measure of consumer credit risk used in more than 25 countries

TORONTO — August 8, 2018

  • FICO extends multi-year agreement with Equifax® Canada to distribute FICO® Scores to lenders, consumers and additional businesses in Canada
  • BEACON Score to be renamed FICO® Score in Canada

Analytics software firm FICO today announced that it has extended a multi-year agreement with Equifax Canada to distribute FICO® Scores to lenders, consumers and additional businesses in Canada. The renewed agreement continues to offer the FICO® Score, previously named BEACON®, to the Canadian market and continues to leverage Equifax mortgage data to enhance predictive power.

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The latest in consumer financial education innovation from FICO, the FICO® Score Planner, is the only consumer tool to help enable consumers to set and track their FICO® Score goals and action plans.

  • Innovative consumer empowerment tool developed by FICO® Score data scientists
  • The FICO® Score Planner can be used by lenders and resellers to help enable consumers to set their target FICO® Score goals, understand potential credit actions they could take, and receive updates on their progress toward their goals
  • FICO® Scores are the most well known and valued credit scores by consumers with 90% brand awareness1
  • FICO® Scores are the most widely used credit score and are included in over 90% of U.S. lending decisions, providing transparency, disclosure and consistency for lenders and consumers
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Machine learning FICO analytics can be used by lenders to match offers to risk and ability to pay

Money20/20 Europe, Amsterdam — 6 June, 2018

Highlights:

  • FICO and Equifax have launched the FICO® Risk and Affordability Decision Suite, powered by Equifax®, which uses advanced predictive analytics to assess a consumer’s repayment risk as well as their ability to afford new credit
  • The FICO Risk and Affordability Decision Suite is designed for lenders needing to make credit decisions that avoid overstressing consumers, while treating consumers fairly
  • The suite works with the FICO® TRIAD® Customer Manager solution used to manage most UK card accounts

As the UK’s Financial Conduct Authority pursues measures to stop consumers becoming trapped by persistent debt, two industry leaders in credit risk management have joined forces to help lenders make better lending decisions. At the Money20/20 Europe conference in Amsterdam today, analytic software firm FICO and global information solutions leader Equifax have launched the FICO® Risk and Affordability Decision Suite, powered by Equifax®, which uses advanced predictive analytics to assess a consumer’s repayment risk as well as their ability to handle both existing and new credit.

More information: http://www.fico.com/en/products/fico-risk-and-affordability-decision-suite-equifax

 

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