Category Archives: Risk & Compliance

Risk & Compliance LIFECARD Uses FICO Score to Grant More Credit

Enhancing Credit Assessment for Existing Customers

Enhancing Credit Assessment for Existing Customers LIFECARD, a credit card company with more than 5.7 million accounts, is the first lender in Japan to adopt the FICO® Score to enhance its credit assessment for existing customers. Calculating an appropriate and timely offer for a credit limit increase is made more accurate by reassessing customers with the FICO® Score, which analyzes their  credit bureau data from all their credit accounts. LIFECARD is also using the FICO® Score to realize risk and cost reduction by better evaluating credit risk eligibility. Shinichiro Okuyama, executive officer at LIFECARD, said, “Growth in the Japanese banking market continues to be hard-won. A contracting population, ultra-low interest rates, shrinking margins and constrained demand mean that lenders need to find opportunities for innovation. To grow our share-of-wallet we needed a way to differentiate our approach to lending, and offering proactive credit limit increases and personal loan offers to our... [Read More]

Leave a comment

Risk & Compliance FICO Kicks Off Consumer Financial Education Program, “Score A Better Future”

Score A Better Future

Last week, FICO kicked off its Score A Better Future program with a community event focused on credit education at Harris-Stowe State University in St. Louis, MO. It was the first of our new series of free educational events across the country that bring together consumer advocates, credit educators and community leaders to help Americans learn about credit scores and financial tools to help them achieve their dreams. We partnered with a number of organizations focused on financial education and empowerment initiatives to bring the initial event together, including Justine PETERSEN, a St. Louis-based organization that assists low-income individuals and families to develop, maintain and increase financial assets, as well as National Consumers League, the St. Louis American, City of St. Louis Treasurer’s Office of Financial Empowerment, and the St. Louis Regional Unbanked Task Force. Check out a recap of the key highlights from the event: Consumers gain valuable credit... [Read More]

Leave a comment

Risk & Compliance How Lenders Can Better Support Small Business Growth in their Communities


Small business credit access grew in 2018 and with modifications to the Small Business Administration (SBA) rules for more streamlined processing, access is predicted to grow. However, untapped opportunities for growth remain for startups and minority owned businesses as suggested in SBA research. What are the funding options for these groups that the SBA is offering and how can your organization better serve them as well? This issue was discussed at the NAGGL 2019, National Association of Government Guaranteed Lenders, conference where hundreds of SBA lenders gathered to learn about policy changes, SBA online application submission solutions, how to create successful sales reps, and other trends in the industry impacting SBA lenders. SBA programs give businesses access to credit such as 7(a) loans for any purpose, microloans and 504 Certified Development Company (CDC) Loans for fixed-rate mortgage and equipment financing. Other programs are available to businesses to find investors, conduct... [Read More]

Leave a comment