(Singapore) - Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, announced today that the company has more than doubled new business growth in Asia-Pacific for the first half of financial year 2008. This growth is largely attributable to a significant increase in the number of international and domestic banks investing in Fair Isaac tools and technologies. Notable new clients include Citibank (Korea), GenWorth Financial (Australia and New Zealand), High Mark Credit Information Services (India), National Healthcare Group (Singapore), Singapore Civil Defense Force as well as China's Bank of Communications.
Fair Isaac has also accelerated its commitment and investments in the region, establishing a presence in Seoul and another in Shanghai, its second representation in China after Beijing. Fair Isaac has also doubled its headcount across Asia-Pacific as it continues to hire aggressively in the region.
"These are important milestones for Fair Isaac and underscore our continued commitment to expanding our presence in Asia Pacific," said J.Y. Pook, vice president and managing director, Asia-Pacific market, Fair Isaac. "In response to the global credit crisis, many of our Asia Pacific clients are leveraging Fair Isaac's leading-edge decision management tools to increase customer loyalty, automate decisions while effectively managing risk, and gear up to meet global regulatory and compliance standards. By focusing on meeting the needs of our expanding client base, our Asian business continues its healthy growth trajectory."
Fair Isaac's direct presence in major Asian markets is paying dividends, with the company fast becoming the vendor of choice for compliance tools and technologies in the banking sector of the Asia Pacific markets. More than 15 new customers across Asia have turned to Fair Isaac for the roll-out of decisions management solutions for the financial services, defense and healthcare industries.
"Our strategy of working closely with local partners combines intimate local knowledge with global best practices and technologies, providing uniquely compelling solutions to our customers," continued Mr. Pook. "In China particularly, Fair Isaac has gone from strength to strength and is fast becoming the trusted, gold standard provider for Basel II analytic consulting solutions amongst retail banks."
In China, Fair Isaac has won the rights to deliver consulting services and advanced analytic capabilities for an increasing number of China's leading banks to meet compliance goals while effectively managing credit risk and growth. Fair Isaac provided across-the-lifecycle decision management solutions to the Pacific Credit Card Center of Bank of Communications, one of the top five commercial banks in China. The TRIAD® adaptive control system, as the first phase of the total project, officially went live three months ahead of schedule.
"China is poised to become a dominant player on the world banking stage," said Tony Kieffer, Vice President & Managing Director for Fair Isaac China. "As the global leader in decision management, it's fitting that Fair Isaac has been chosen in the roll-out of the nation's first large-scale intelligent and automated credit card account management system."
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) transforms business by making every decision count. Fair Isaac's Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with Fair Isaac to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. Fair Isaac also helps millions of individuals manage their credit health through the www.myFICO.com website.
Fair Isaac Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its TRIAD adaptive control system, 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, its ability to recruit and retain key technical and managerial personnel, the maintenance of its existing relationships and the ability to create new relationships with customers and key alliance partners, it ability to continue to develop new and enhanced products and services, competition, regulatory changes applicable to the use of consumer credit and other data, the possibility that the anticipated benefits of acquisitions, including expected synergies will not be realized and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2007, and its quarterly report on Form 10-Q for the period ended March 31, 2008. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.
Fair Isaac and TRIAD are registered trademarks of Fair Isaac Corporation in the United States and in other countries. Other product and company names herein may be the trademarks of their respective owners.
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