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
  • Consumer Banking Predictions 2020: Expect the Unexpected Consumer Banking Predictions 2020: Expect the Unexpected
    Consumer Banking Predictions 2020: Expect the Unexpected
    February 24, 2020
    Customer Development

    With a new year comes speculations about what new developments and trends will impact the financial industry. I jumped into the fray in 2019 by focusing on four areas of tactical concern within consumer banking that I feel bank executives will make significant progress addressing. How accurate were my predications? I wrote an article in Bank Business a…

    Tim VanTassel by Tim VanTassel
  • Will Real-Time Payments Increase Financial Crime in the USA? Will Real-Time Payments Increase Financial Crime in the USA?
    Will Real-Time Payments Increase Financial Crime in the USA?
    February 20, 2020
    Fraud Protection & Compliance

    The Clearing House Association announced in January 2020 that on February 1st the limit for a single transaction using its RTP scheme will increase from its current $25,000 to $100,000. US payment schemes operate in a uniquely competitive environment.  The Clearing House Association’s RTP  - as well as The Automated Clearing House - offer same day…

    Doug Clare by Doug Clare
  • Fraud and Financial Crime Product Strategy: C is for Convergence Fraud and Financial Crime Product Strategy: C is for Convergence
    Fraud and Financial Crime Product Strategy: C is for Convergence
    February 18, 2020
    Fraud Protection & Compliance

    For a while now, folks at FICO have been talking about the convergence of fraud- and financial crime-fighting data, processes and systems. And with good reason—all signs indicate this direction to be the most efficient for banks, the most beneficial for customers, and the most aligned with regulation. In this blog I’ll reprise the product strategy version of the conve…

    TJ Horan by TJ Horan
  • How Big Is the Rideshare Fraud Problem? How Big Is the Rideshare Fraud Problem?
    How Big Is the Rideshare Fraud Problem?
    February 24, 2020
    Fraud Protection & Compliance

    In just a decade, ridesharing services like Uber and Lyft have changed the way people get around. Hailing a cab or driving yourself has morphed into requesting a pickup on an app from these and other peer-to-peer transportation network companies (TNC). But has this shift in consumer habits created a growing rideshare fraud problem? Using large data sets gathered fr…

    Scott Zoldi by Scott Zoldi
  • Why South African Debt Managers Should Be Febru-worried Why South African Debt Managers Should Be Febru-worried
    Why South African Debt Managers Should Be Febru-worried
    February 17, 2020
    Debt Collection & Recovery

    South Africans just went through the month they dub Janu-worry, where they fret about how to pay off our December bills. That's over, but the big picture is scarier than any family's holiday spending binge. What we see, as a company that works with lenders and debt collection agencies worldwide, is that the financial services sector has a lot to be Febru-worried about…

    Bruce Curry by Bruce Curry
  • Top 5 FICO Fraud Posts of 2019: From Zombies to Money Laundering Top 5 FICO Fraud Posts of 2019: From Zombies to Money Laundering
    Top 5 FICO Fraud Posts of 2019: From Zombies to Money Laundering
    February 13, 2020
    Fraud Protection & Compliance

    The fight against fraud is constantly evolving because of the new approaches taken by fraudsters. 2019 was a year full of innovative methods to fight fraud, and we covered these on the FICO Blog. Check out the top 5 fraud blog posts which garnered the most views in 2019. 5 Reasons Why AML is More Important Than Ever in 2019 Timothy Choon explains in his…

    FICO by FICO
  • Measuring and Eliminating Customer Friction Measuring and Eliminating Customer Friction
    Measuring and Eliminating Customer Friction
    February 05, 2020
    Customer Development

    At FICO, we have the privilege of working with the smartest, most innovative folks in the financial industry on the thorniest, most complex problems facing the industry. This work is challenging, rewarding, and frequently filled with fascinating conversations. For your benefit, we will periodically reproduce these conversations in FICO blog posts. Today’s post…

    Tom Johnson by Tom Johnson
  • Innovation Never Sleeps: Why We Redevelop the FICO Score Innovation Never Sleeps: Why We Redevelop the FICO Score
    Innovation Never Sleeps: Why We Redevelop the FICO Score
    February 03, 2020
    Scoring Solutions

    Look around. How many people do you know that already have the iPhone 11? Many consumers seem to always have a device that is in lockstep with the latest in cutting edge technology. These consumers are a large part of the reason why Apple releases new versions of their phone on a regular cadence. By doing so, they ensure that their product offering captures the latest…

    Ethan Dornhelm by Ethan Dornhelm
  • AI Predictions 2020: Artificial Intelligence Grows Up AI Predictions 2020: Artificial Intelligence Grows Up
    AI Predictions 2020: Artificial Intelligence Grows Up
    January 31, 2020
    Decision Management

    For the past couple of years artificial intelligence (AI) has been the enfant terrible of the business world, a technology full of unconventional and controversial behavior that has shocked, provoked and enchanted audiences worldwide. In 2020, that’s all going to change. In 2020, I predict that AI is going to grow up, encountering new demands in the areas of responsib…

    Scott Zoldi by Scott Zoldi
  • Translated, “Customer-Centric” Means “Circle the Wagons.” Or does it? Translated, “Customer-Centric” Means “Circle the Wagons.” Or does it?
    Translated, “Customer-Centric” Means “Circle the Wagons.” Or does it?
    January 30, 2020
    Decision Management

    Digital disruption can often make financial services firms feel like they are surrounded behind enemy lines.  Despite their best efforts to embrace digital transformation and customer centricity, waves of attacks just keep coming from all directions, and from bold new aggressors. Thousands of years ago, if a Roman garrison found itself surrounded by an attacki…

    Bill Waid by Bill Waid
  • Video: How to Protect Your Children from Identity Theft Video: How to Protect Your Children from Identity Theft
    Video: How to Protect Your Children from Identity Theft
    February 03, 2020
    Fraud Protection & Compliance

    Did you know that more than one million American children were victims of identity fraud in 2017? This shocking statistic was a major driver for me to pore over article after article, looking for the causes and solutions – and put on my hat as both a fraud fighter and a parent.  In my research, I learned that two-thirds of the children whose identities we…

    Liz Lasher by Liz Lasher
  • Fraud and Financial Crime 2020: Child ID Theft and More Fraud and Financial Crime 2020: Child ID Theft and More
    Fraud and Financial Crime 2020: Child ID Theft and More
    January 27, 2020
    Fraud Protection & Compliance

    Like most, I started off the new year with a multitude of resolutions, and almost immediately followed that with inevitable procrastination. But I’m not going to let that keep me down. I am going to keep looking forward – especially when it comes to 2020 predictions for fraud and financial crime. This year my brilliant colleagues – Doug Clare, Frank Holzenthal, and TJ…

    Liz Lasher by Liz Lasher
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RT @ScottZoldi: Congratulations ⁦@AiDirector⁩, the U.S. DOE’s new head of #AITO! Read more about how the US government is rolling out #AI a…

15 hours ago

The Clearing House Assoc announced the limit for a #transaction using #RTP increased from $25K to $100K on 2/1. Thi… https://t.co/tU1cqlViuw

17 hours ago

By using advanced #analytics and mathematical #optimization when creating #collections strategies, collections mana… https://t.co/foaHGzojip

18 hours ago