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FICO® Score XD 2 Helps Score over 26.5 Million Previously Unscorable Consumer Files

SAN JOSE, Calif. — March 29, 2018

  • FICO® Score XD 2 increases coverage and is able to score over 26.5 million previously unscorable consumer files
  • 11.8 million of these consumers are without credit files and unscorable by any scoring system relying on traditional credit bureau data alone
  • While the traditional FICO® Score is able to score 91 percent of applicants, the inclusion of FICO® Score XD augments the percent of applicants eligible for a FICO-branded score to nearly 98 percent
  • Findings demonstrate that consumers with a FICO® Score XD 2 over 620 that go on to obtain credit maintain a high traditional FICO Score in the future – 75 percent scored 620 or higher in the subsequent 24 months
  • FICO was recently awarded an Analytics 50 Award for FICO® Score XD

Today, analytics software firm FICO (NYSE:FICO) announced the evolution of the FICO® Score XD with the general availability of FICO® Score XD 2.  Part of the FICO® Financial Inclusion Initiative, FICO worked with LexisNexis® Risk Solutions and Equifax® to launch the first version of FICO Score XD in April 2016.  FICO Score XD was specifically designed to provide a reliable credit score for consumers that were previously unscorable based on their traditional credit data alone. With today’s release, FICO Score XD 2 has been further optimized to leverage alternative data sources to increase credit access and give bankcard issuers a second opportunity to assess otherwise unscorable consumers.

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MIAMI, Florida — March 28, 2018

  • DataScoring will offer the FICO Alternative Lending Platform in Colombia
  • The FICO Alternative Lending Platform gives lenders a less expensive way to make credit risk decisions, using cloud-based analytics and decision strategies

Analytics software leader FICO today announced that it has partnered with Colombian firm DataScoring to provide cloud-based credit risk assessment to lenders. DataScoring now offers the FICO® Alternative Lending Platform in Colombia, giving banks, card issuers, retailers and other firms that offer credit an easy way to access world-class credit origination software and risk assessment analytics at a lower cost.

More information: https://www.datascoring.co/

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Leading Danish online lender will gain flexibility and control over risk exposure

STOCKHOLM — March 21, 2018

Highlights:

  • Basisbank, an online lender in Denmark, will control credit risk and accelerate its digital transformation using FICO® Blaze Advisor® decision rules management system
  • Basisbank risk analysts will be able to quickly make changes to credit strategies for unsecured consumer loans and point-of-sale financing
  • FICO Blaze Advisor is part of the groundbreaking FICO® Decision Management Suite for building and deploying decision management applications

Basisbank, an online lender in Scandinavia, will control credit risk and accelerate its digital transformation using FICO decision management technology, analytic software provider FICO announced today. With FICO® Blaze Advisor® decision rules management system, Basisbank risk analysts will be able to quickly make changes to credit strategies for unsecured consumer loans and point-of-sale financing in order to increase profitability and reduce the risk of loans going unpaid. Basisbank receives more than 75 percent of its credit applications from mobile devices.

More information: http://www.fico.com/en/products/fico-blaze-advisor-decision-rules-management-system

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