Average U.S. FICO Score Ticks Up to 706

Average U.S. FICO Score Ticks Up to 706

The national average FICO Score has steadily risen over the past decade

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Analytics in Banking: Start with the End in Mind

Analytics in Banking: Start with the End in Mind

Banks spend too much time trying to predict things, rather than mapping out how their people, processes, and technology will need to change if they are successful.

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The New White Walkers: Zombie Synthetic Identity Fraud

The New White Walkers: Zombie Synthetic Identity Fraud

Synthetic identity frauds that strategically hid themselves in the bad debt book may be coming back from the dead as zombie synthetic identity fraud.

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11 Credit Trends That Raise Questions for Debt Collectors

11 Credit Trends That Raise Questions for Debt Collectors

However efficient and advanced a debt collection operation is, it’s being stress-tested by a multitude of factors in ways not seen since the last global recession.

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Supply Chain Optimization: BASF Solves a Major Challenge

Supply Chain Optimization: BASF Solves a Major Challenge

BASF’s advanced business analytics team used FICO Xpress Optimization to map all of its supply chains at once to weigh the economic value of an investment.

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  • FICO World 2019 Final Day: Why AI Needs Explanations and Innovations FICO World 2019 Final Day: Why AI Needs Explanations and Innovations
    FICO World 2019 Final Day: Why AI Needs Explanations and Innovations
    November 08, 2019
    Decision Management

    The final day of FICO World started with our Chief Analytics Officer, Scott Zoldi, and Kate Crawford, co-founder of AI Now Institute, discussing important governance issues related to analytics modeling, data choices and usage, and the roles and responsibilities of data scientists in our digital age. For Zoldi, while the excitement on machine learning is helping to…

    FICO by FICO
  • FICO World 2019 Day 2: Never Climb Alone FICO World 2019 Day 2: Never Climb Alone
    FICO World 2019 Day 2: Never Climb Alone
    November 07, 2019
    Customer Development

    Tim VanTassel, Solutions and Advisory Group VP and general manager at FICO, kick-started day two of FICO World by mapping out the credit risk journey with examples from the auto finance, telco, and self-service collections industries, noting that  FICO works with our customers to help unlock better customer experiences for their customers. He add, “if y…

    FICO by FICO
  • FICO World 2019 Kickoff: Hello Big Apple FICO World 2019 Kickoff: Hello Big Apple
    FICO World 2019 Kickoff: Hello Big Apple
    November 06, 2019
    Decision Management

    FICO World 2019 commenced today in New York City on a perfect fall day. More than 1400 attendees joined the conference which started 38 years ago. This year's conference features sessions on everything from the data decisions cloud, to FICO® Score trends, to analytic innovations in fighting financial crimes. CEO Will Lansing kicked off the conference with…

    FICO by FICO
  • Real-Time Payments Fraud: Can Elephants Learn to Dance? Real-Time Payments Fraud: Can Elephants Learn to Dance?
    Real-Time Payments Fraud: Can Elephants Learn to Dance?
    November 01, 2019
    Fraud Protection & Compliance

    In their natural habitat, elephants rule because they’re smart, strong and fast. But they don’t dance. In today’s digital transformation, real-time payments environment, big banks are the elephants ­– large and formidable, but not especially known for being nimble. But can elephants, in fact, dance? Modern business history contains numerous examples of large organi…

    Doug Clare by Doug Clare
  • Detecting More CNP Card Fraud Detecting More CNP Card Fraud
    Detecting More CNP Card Fraud
    October 31, 2019
    Fraud Protection & Compliance

    As the adoption of EMV chip card technology has fueled a move to card not present (CNP) fraud, FICO analytic scientists are keenly focused on improving FICO® Falcon models’ CNP fraud detection. Specifically, the team has focused on early detection of fraud on events with significant financial risk, such as high-value CNP fraud, as well as driving significant improveme…

    Scott Zoldi by Scott Zoldi
  • Managing Economic Uncertainty with a Customer-centric Approach Managing Economic Uncertainty with a Customer-centric Approach
    Managing Economic Uncertainty with a Customer-centric Approach
    October 31, 2019
    Customer Development

    Managing customers has changed dramatically over the years.  I remember getting my first personal loan at my company’s credit union.  I knew the tellers and the loan officers on a first name basis because I saw them every other week on payday.  When I requested my first personal loan, it was approved quickly because of my long-standing employment at the…

    Therese Henry by Therese Henry
  • Creative Ways to Help Vulnerable Customers Creative Ways to Help Vulnerable Customers
    Creative Ways to Help Vulnerable Customers
    October 28, 2019
    Debt Collection & Recovery

    On a recent visit to a conference in Melbourne, an old friend was discussing her new approach to helping vulnerable customers who can’t afford to pay their electricity bills. As electricity is deemed an essential service in Australia, the supply cannot be disconnected for non-payment; this is a heavily regulated industry with a very strong customer focus. This in…

    John McMahon by John McMahon
  • Finding Business Success Through Customer Engagement Finding Business Success Through Customer Engagement
    Finding Business Success Through Customer Engagement
    October 24, 2019
    Customer Development

    Putting customers at the core is a business fundamental. It’s 101 stuff. But today, the challenge facing companies is, how do you engage customers successfully around their self-interest without bankrupting yourself? Whether you are a thriving café, a legal firm or a big bank, consumers are rightly or wrongly expecting you to understand them on an individual lev…

    Nikhil Behl by Nikhil Behl
  • FICO Celebrates 30th Anniversary of the FICO Score FICO Celebrates 30th Anniversary of the FICO Score
    FICO Celebrates 30th Anniversary of the FICO Score
    October 24, 2019
    Scoring Solutions

    When I was recruited to join FICO right after school in the late ‘80’s, I couldn’t imagine that I would be here years later talking about the 30th anniversary of the FICO® Score.  Particularly its impact on the global economy, which I am excited to highlight during my keynote next month at FICO World.  But I am so proud to be a part of the team that made the…

    Sally Taylor by Sally Taylor
  • If You Are Reacting to Digital Disruption You May Already Be Too Late If You Are Reacting to Digital Disruption You May Already Be Too Late
    If You Are Reacting to Digital Disruption You May Already Be Too Late
    October 22, 2019
    Decision Management

    As digital disruption bears down on financial services providers, companies are wise to formulate their customer centricity and decisioning strategies... so long as they move with a sense of urgency. History is filled with calamities and failed responses caused by delayed warnings, ignored alerts, and tragic misunderstandings caused by missed, errant, and too-litt…

    Bill Waid by Bill Waid
  • Truncation Bias in Score Validations: When Rejected Applications Strike Back Truncation Bias in Score Validations: When Rejected Applications Strike Back
    Truncation Bias in Score Validations: When Rejected Applications Strike Back
    October 21, 2019
    Scoring Solutions

    This post is the second of a three-part series highlighting some of the ways in which the set-up of a score validation can greatly influence model performance results — and sometimes inflate them.  Our goal is to help potential users of scores and data evaluate their options and understand when they might be looking at skewed results.  The first post in this…

    Paul Panichelli by Paul Panichelli
  • New Frontiers in Using AI to Fight Fraud and Money Laundering New Frontiers in Using AI to Fight Fraud and Money Laundering
    New Frontiers in Using AI to Fight Fraud and Money Laundering
    October 17, 2019
    Fraud Protection & Compliance

    In our brave new world, the use of artificial intelligence can be a contentious issue. For many, the question of AI as friend or foe is not yet resolved. Those who work in fraud management provide a shining example of how AI can be a force for good, and have been doing so for over quarter of a century. Despite being early adopters of AI, now is not the time for fra…

    Sarah Rutherford by Sarah Rutherford
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