All posts by Chaundera Wolfe

Risk & Compliance Myth Busting with Clever Girl Finance and Jenelle Dito, FICO® Score Open Access Program


Bola Sokunbi of Clever Girl Finance recently chatted with Jenelle Dito, Director, FICO® Score Open Access program, for her podcast episode ‘Dispelling The Most Common Credit Myths’.  Jenelle shared her personal story with money, what she learned in the process of her own money challenges and how people can empower themselves with credit knowledge. This follows the FICO Score Open Access program hitting an important milestone!  The program now reaches more than 300 million consumer accounts, provides free access to the FICO® Score used by lenders for credit decisions and the factors that affect them.  Participating institutions deliver the scores to their customers via a variety of channels, including online banking websites, mobile applications and paper statements.  More than 170 financial institutions participate in the FICO® Score Open Access program including eight of the top 10 credit card issuers.  The FICO Score is the standard measure of U.S. consumer credit risk used in more than 90 percent of consumer lending decisions in the U.S. In addition, FICO® Score Open... [Read More]

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Risk & Compliance New UltraFICO™ Score Innovation Now Available for Lenders to Pilot


Consumer awareness of their credit and FICO® Scores has never been higher. Whether planning to buy a car, home or head to college, millions of consumers know and manage their credit score. Now financial inclusion innovation is on the horizon that will change the dynamic of the lender and customer relationship.  Empowering consumers to have greater control over the information that is being used in credit risk management and enabling a deeper dialogue to help both parties make better financial decisions. Earlier this week from Money 20/20, FICO, Experian, and Finicity announced a new credit score called UltraFICO™ Score.  With UltraFICO™ Score, a consumer securely grants permission or ‘opts-in’ to contribute information such as checking, savings and money market account data, which can be compiled by Finicity and combined with consumer credit information from Experian to provide an enhanced view of positive financial behavior. The UltraFICO™ Score includes factors such as length of... [Read More]

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Risk & Compliance FICO Receives Analytics 50 Award for FICO Score XD

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Drexel University’s LeBow College of Business and have named analytic software firm FICO a winner of the Analytics 50 Awards for the second year in a row. The awards program honors organizations using analytics to solve business challenges.  FICO received the award for FICO® Score XD, which leverages groundbreaking analytic technologies and alternative data to help safely and responsibily expand credit access. For more information check out the full award article. Led by Radha Chandra, principal scientist in the Scores business unit at FICO, the FICO analytic development team posed the question: Can alternative data expand credit access?  After extensive research and validation, FICO launched FICO Score XD.  Through the development of FICO® Score XD, FICO provides a potential onramp to credit access for the majority of 50+ million Americans who are identified as ‘unscorable’. In addition to traditional credit data, FICO® Score XD consumes alternative data from telco,... [Read More]

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