President Obama Acknowledges and Praises FICO and Leading Banks for Increasing Consumer Access to Free FICO Scores

Citi latest participant as FICO Score Open Access grows to 60 million consumers

WASHINGTON, DC.—October 17, 2014—In remarks today, President Barack Obama recognized and praised FICO (NYSE:FICO), the predictive analytics and decision management software company, and several leading lenders, for their efforts to help consumers understand their FICO^® Scores through the FICO^® Score Open Access program. The President applauded these companies for improving consumers' awareness of their credit health and helping them identify unexpected shifts in their credit score, which could be an indicator of identity theft.

FICO^® Score Open Access was launched in November 2013 with eight million eligible credit card accounts. By the end of 2014, that number will more than triple to 32 million eligible credit accounts, and grow to more than 60 million in early 2015, with the addition of new participants, including Citi. Besides credit card accounts, the program has been expanded to include deposit accounts, auto loans and student loans.

Lenders who join the program share the same FICO^® Score they are using to manage their customers' credit accounts. The program also provides educational information, including actionable explanations of the consumer's FICO^® Score, to help consumers manage their financial health over time. Analysis of some first-year participants shows a discernible correlation between consumers who take advantage of the program and significantly lower delinquencies versus those who do not.

"Though it's still early, analysis of some program results to date shows that the consumer's ability to view his or her FICO Score can lead to higher engagement with his or her lender," said Jim Wehmann, executive vice president, Scores for FICO. "We're also seeing that having regular access to their FICO score can motivate some customers to adopt behaviors that will contribute to their overall financial health. If these trends continue, it could be good news for everyone with a stake in the consumer credit system."

Sobre a FICO
A FICO (NYSE: FICO) é uma grande empresa de software analítico que ajuda empresas em mais de 80 países a tomar melhores decisões que levem a níveis mais elevados de crescimento, rentabilidade e satisfação do cliente. O uso inovador que a empresa faz do Big Data e de algoritmos matemáticos para prever o comportamento do consumidor está transformando setores inteiros. A FICO fornece software analítico e ferramentas utilizadas em vários setores para gerenciar riscos, combater a fraude, construir relacionamentos mais rentáveis com os clientes, otimizar operações e cumprir regulamentações governamentais rigorosas. Many of our products reach industry-wide adoption. These include the FICO^® Score, the standard measure of consumer credit risk in the United States. As soluções da FICO utilizam padrões de código aberto e computação em nuvem para maximizar a flexibilidade, acelerar a implementação e reduzir os custos. A empresa também ajuda milhões de pessoas a gerenciar sua qualidade de crédito pessoal. FICO: Make every decision count™. Learn more at www.fico.com.

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