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September 20, 2011
MINNEAPOLIS – September 20, 2011 – FICO (NYSE: FICO), the leading provider of analytics and decision management technology, today announced that it has been awarded eight new patents by the U.S. Patent and Trademark Office. These patents were awarded to members of the FICO Labs team, and were granted for inventions underlying FICO offerings in credit scoring, fraud detection and predictive analytics.
The new patents in credit scoring cover:
The new patents in fraud detection cover:
Other new patents in predictive analytics cover:
FICO has been awarded 13 patents since the start of 2011 and holds 112 patents total. The company recently filed three more patent applications, and has another 106 patent applications pending in the United States and other countries.
"This latest round of patents is a tremendous credit to our entire FICO Labs team and a natural outgrowth of FICO’s culture of innovation and discovery,” said Dr. Andrew Jennings, chief analytics officer at FICO and head of FICO Labs. “Our advances in predicting customer behavior are essential for businesses that need to make smarter decisions in a changing economy with stricter regulations and higher customer expectations for speed, service and relevance.”
"Given the changes in the financial services industry, be they regulatory, consumer behavior or risk tolerance, the competitive advantage will be held by those who innovate around data and analytics," said Frank Bria, research director at TowerGroup, a Corporate Executive Board company. "New and innovative ways to analyze data and make decisions coupled with intellectual property are critical for the dynamic financial services environment."
About FICOFICO (NYSE:FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company’s groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO’s innovative solutions include the FICO® Score — the standard measure of consumer credit risk in the United States — along with industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world’s top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through www.myFICO.com. Learn more at www.fico.com. FICO: Make every decision count™.
For FICO news and media resources, visit www.fico.com/news.
Statement Concerning Forward-Looking InformationExcept for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2010 and its last quarterly report on Form 10-Q for the period ended June 30, 2011. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.FICO and “Make every decision count” are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
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