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
  • 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
  • The 850 FICO Score The 850 FICO Score
    The 850 FICO Score
    September 17, 2019
    Scoring Solutions

    Some of the more frequent credit score related questions people ask are around the subject of a perfect FICO® Score:  What is the perfect FICO® Score? How can I get a perfect FICO® Score? Does anyone have a perfect FICO® Score? What’s the typical credit profile of someone who has a perfect FICO® Score? FICO® Scores range from 300-850*.  Each…

    Tom Quinn by Tom Quinn
  • Survey - What Drives Fraud and Financial Crime Strategy? Survey - What Drives Fraud and Financial Crime Strategy?
    Survey - What Drives Fraud and Financial Crime Strategy?
    September 16, 2019
    Fraud Protection & Compliance

    In recent years there has been much talk of the fraud and financial crime departments at banks working together more closely. To better understand the path to convergence of these two vital functions, it is necessary to understand what drives them. FICO commissioned research and analyst company Ovum to carry out an independent research survey to uncover the main co…

    Sarah Rutherford by Sarah Rutherford
  • Fraud and Financial Crime Management Are Converging – But How Fast? Fraud and Financial Crime Management Are Converging – But How Fast?
    Fraud and Financial Crime Management Are Converging – But How Fast?
    September 12, 2019
    Fraud Protection & Compliance

    A new independent survey by research firm Ovum has found that banks in multiple regions plan to integrate their fraud and financial crime compliance systems and activities in response to new criminal threats and punishing fines — but not all at the same speed. “Banks are asking a fundamental question: Is the current approach to tackling financial crime sustain…

    FICO by FICO
  • How are Credit Reports and Credit Scores Created? (Video) How are Credit Reports and Credit Scores Created? (Video)
    How are Credit Reports and Credit Scores Created? (Video)
    September 11, 2019
    Scoring Solutions

    If you have ever applied for credit, the lender reviewing your application most likely pulled your credit report and credit score. What makes up a credit report and why could credit scores be different across lenders? The FICO Score is the credit score used in 90% of lending decisions. For a quick refresher on what the FICO Score is and isn’t (for example, the FICO…

    Joanne Gaskin by Joanne Gaskin
  • Bank of England Validates Need for Explainable AI Bank of England Validates Need for Explainable AI
    Bank of England Validates Need for Explainable AI
    September 09, 2019
    Decision Management

    Last month, the Bank of England joined the ranks of those that have expressed interest in machine learning, along with reservations about its potential pitfalls. In Staff Working Paper No. 816: Machine learning explainability in finance: an application to default risk analysis, the authors make the following observations: ML and AI suffer from a black box proble…

    Scott Zoldi by Scott Zoldi
  • FICO Introduces FICO Safe Driving Score 2.0 FICO Introduces FICO Safe Driving Score 2.0
    FICO Introduces FICO Safe Driving Score 2.0
    September 04, 2019
    Scoring Solutions

    Earlier this year, my colleague, Can Arkali, shared the results of an analytic validation of the FICO® Safe Driving Score.  Since then, we’ve been working to enhance the prediction of future collisions and this week we are announcing the launch of FICO Safe Driving Scores, version 2.0.  The FICO® Safe Driving Score utilizes driving based telematics data c…

    Rachel Bell by Rachel Bell
  • Artificial Intelligence Explained: What Is Ethical AI? Artificial Intelligence Explained: What Is Ethical AI?
    Artificial Intelligence Explained: What Is Ethical AI?
    September 03, 2019
    Decision Management

    There is a lot of controversy in business circles as to whether companies are using artificial intelligence (AI) technology for unethical purposes, or unknowingly doing so. This post isn’t about that - it's about what ethical AI means for model development. One of the most common misperceptions I hear about bias is, “If I don’t use age, gender or race, or similar f…

    Scott Zoldi by Scott Zoldi
  • Build or Buy: Partnering in the Age of Model-Driven Organizations Build or Buy: Partnering in the Age of Model-Driven Organizations
    Build or Buy: Partnering in the Age of Model-Driven Organizations
    September 03, 2019
    Decision Management

    Digital transformation has made businesses smarter and more capable than ever before. It’s also made nearly every industry much more intensely competitive, as the tools for digitalization are more equally available to all players. Beyond their own unique proprietary resources, all competitors have access to essentially the same third party data. Where companies can st…

    Chisoo Lyons by Chisoo Lyons
  • Analytic Heroes Come Forward! Analytic Heroes Come Forward!
    Analytic Heroes Come Forward!
    August 29, 2019
    Decision Management

    FICO’s customers continue to set new standards with their innovative solutions to very challenging business problems. That’s why the FICO® Decisions Awards were created — to find the best of the best, the companies that are truly competing with analytics. Our 2019 FICO® Decisions Awards are now open. Nominations are due October 15, 2019, and winners will be announc…

    FICO by FICO
  • Making The Digital Leap in Banking Making The Digital Leap in Banking
    Making The Digital Leap in Banking
    August 28, 2019
    Customer Development

    Digital transformation has hit the financial services industry. All firms, from large national banks to small regional credit unions, are beginning to disrupt the status quo within their own organizations. We see it in Goldman Sachs’ wildly successful consumer banking division, Marcus. We see it in PSECU’s innovative application of digital communication capabilities a…

    Tom Johnson by Tom Johnson
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What's next for our customers? Dirk Findeisen and Dr Ralf Hundhammer tell our customers how they can tool up and t… https://t.co/B3ovjvZotC

2 hours ago

@Finovate is 4 DAYS AWAY and #FICO is ready! Visit us at Booth 12 for demos, prizes and giveaway. This year,… https://t.co/e2fWCMlY0C

2 hours ago

RT @SaraJRutherford: The case for integration of fraud and financial crime compliance in one fun picture from the International Siron User…

3 hours ago