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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new ideas
  • 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
  • "Score a Better Future" Increases FICO Score Understanding "Score a Better Future" Increases FICO Score Understanding
    "Score a Better Future" Increases FICO Score Understanding
    October 14, 2019
    Scoring Solutions

    Your FICO® Score today doesn’t have to be your FICO® Score in the future. That is our mantra for FICO’s Score a Better Future program because we want to empower consumers to reach their financial goals. Score a Better Future is a series of free educational events FICO is holding across the US that bring together consumer advocates, credit counselors, and community lea…

    Tom Quinn by Tom Quinn
  • Celebrating FICO's 2018 Decision Heroes Celebrating FICO's 2018 Decision Heroes
    Celebrating FICO's 2018 Decision Heroes
    October 07, 2019
    Decision Management

    FICO is celebrating the achievements of its customers and their achievements with AI, machine learning and decision management. The winners of the 2018 FICO® Decisions Awards can now be formally announced. This year’s winners are: AI, Machine Learning and Optimization: Orsted and BASF Commendation: Grupo Fleury Customer Onboarding & Manage…

    Nikhil Behl by Nikhil Behl
  • How Small Banks can Capture more Market Share of the Small Business Lending Market How Small Banks can Capture more Market Share of the Small Business Lending Market
    How Small Banks can Capture more Market Share of the Small Business Lending Market
    October 02, 2019
    Customer Development

    Currently, small banks and credit unions only have 9% of all small business loans under $100,000. The room for expansion is extensive and I don’t think it will take extraordinary measures in order to increase that market share significantly.  I would like to examine what I think ‘small banks’ (community banks, regional banks, and credit unions) can do to capture…

    David Smith by David Smith
  • Disruption and Transformation: Opposite Sides of the Same Coin Disruption and Transformation: Opposite Sides of the Same Coin
    Disruption and Transformation: Opposite Sides of the Same Coin
    September 30, 2019
    Decision Management

    Digital disruption, customer centricity, and decisioning technologies have combined to create a dilemma for companies seeking to improve client satisfaction and retention: should they do nothing, and take a wait-and-see approach? Or should they take the initiative and go through the pain of reinventing themselves?  Just as Pablo Picasso once observed that "Eve…

    Bill Waid by Bill Waid
  • Optimizing Resource Placement in Bank Deserts Optimizing Resource Placement in Bank Deserts
    Optimizing Resource Placement in Bank Deserts
    September 30, 2019
    Customer Development

    A recent road trip for our annual beach vacation got me thinking about…banks.  Not the omni-channel, application-enabled, smartphone friendly ones that many of us urbanites are used to, but the ones that have doors, windows and associates that you are familiar with.   As we stopped in a small town in southern Georgia it really struck me the lack of what m…

    Richard Dougherty by Richard Dougherty
  • Finovate: FICO Falcon X Detects Fraud, Financial Crime Finovate: FICO Falcon X Detects Fraud, Financial Crime
    Finovate: FICO Falcon X Detects Fraud, Financial Crime
    September 27, 2019
    Fraud Protection & Compliance

    Streamlining fraud detection and anti-money laundering (AML) processes is essential in fighting financial crime faster and more effectively. We heard this message loud and clear at Finovate in New York City this week, as we have from banks and financial institutions worldwide. This post is the first in a series exploring important new themes that are emerging in the r…

    Doug Clare by Doug Clare
  • Fishing for Deposits Fishing for Deposits
    Fishing for Deposits
    September 23, 2019
    Customer Development

    The need to attract deposits to fuel your bank’s loan operations is essential for a growing and profitable bank. Attracting and retaining deposits has followed a similar strategy across the banking landscape for many years. Banks attempt to “lure in” additional deposits with an attractive promotion, often in the form of a high interest rate that naturally eats into yo…

    Glenn Grossman by Glenn Grossman
  • Incorporating Optimization in Personalization Systems for Telecom Incorporating Optimization in Personalization Systems for Telecom
    Incorporating Optimization in Personalization Systems for Telecom
    September 19, 2019
    Customer Development

    Organizations engage with their customers via multiple channels. In saturated and highly competitive markets like telecommunications, carriers are investing heavily to minimize churn by delivering, personalized customer interactions through these channels. Customer satisfaction is contingent on the telecom providers’ ability to present personalized offers through thes…

    Amartya Bhattacharjya by Amartya Bhattacharjya
  • Auto Collections: Do More with Less Auto Collections: Do More with Less
    Auto Collections: Do More with Less
    September 18, 2019
    Debt Collection & Recovery

    Automotive collections and recovery professionals are under constant pressure to do more—collect more money, be proactive (instead of reactive) when it comes to high-risk accounts, become more operationally efficient, improve customer satisfaction—all while dealing with increasing resource constraints.   Success in this environment requires ingenuity and creat…

    Mica DuBois by Mica DuBois
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Average U.S. FICO Score Hits New High

The #truncationbias phenomenon was recently discussed in a paper published by @FICO's Ethan Dornhelm, Paul Panichel… https://t.co/D1QdcxkgoQ

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Our biggest fans this week: dougoclare, PeterOuld, cybersec_feeds. Thank you! via https://t.co/veTC58a1vv https://t.co/4sj9b9Vn8y

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We are proud to be a part of the #AFSAmtgs! https://t.co/sF48210RBu

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