Tim VanTassel, Solutions and Advisory Group VP and general manager at FICO, kick-started day two of FICO World by mapping out the credit risk journey with examples from the auto finance, telco, and self-service collections industries. Tim noted that FICO works with our customers to help unlock better customer experiences. He also added, “if you don’t look at the beta behind the climb, you likely won’t take the climb when you arrive” – a reference to yesterday’s keynote speech by free solo rock climber, Alex Honnold.
Following Tim’s presentation, Liz Lasher, VP, Fraud, Security, Compliance product marketing, provided attendees with insights into fighting child identity fraud, which affects more than 1 million American children, at a cost of $2.5 billion, per year. Her keynote shared insights into common fraudsters’ practices such as application flooding (applying for mass amounts of credit), authorized user piggybacking (adding fake people to lines of credit), and credit repair numbers (creating false number sequences to secure undeserved credit), and discussed ways to combat crime. She cautioned against “Sharanters” - people who overshare their children's info on social channels.
The general session keynotes in the morning ended with a compelling presentation by Prasanna Dhore, chief data and analytics officer at Equifax, on his history of being "credit invisible" as an immigrant to the United States, and his financial journey to obtaining credit.