(Minneapolis, Minnesota, USA) - Fair Isaac Corporation (NYSE: FIC), the leading provider of analytics and decision management technology, today announced a partnership with Business Processes Redefined, LLC (BPR) to deliver sophisticated collection and recovery services to corporate clients. This offering is a cost-effective, results-driven alternative to traditional collection practices.
The partnership pairs Fair Isaac's proven collection and analytic solutions with BPR's new and unique agency management outsourcing model. Using Fair Isaac's ScoreNet® credit vendor network and PlacementsPlus® agency management solution, BPR segments its clients' receivables according to a variety of criteria, including age, balance and type of debt. BPR then parcels out each segment to multiple collection agencies that have a demonstrated record of success managing specific types of portfolios.
Many of the world's largest companies use Fair Isaac collection and recovery solutions to improve their collection operations. This partnership will enable a wider universe of companies to take advantage of Fair Isaac technology and analytical capabilities by working with BPR.
"By combining the world-class capabilities of Fair Isaac's PlacementsPlus and ScoreNet solutions with BPR's expertise in collection strategy, our customers will greatly increase their revenues in the collections and recovery market," said Randy Halvorson, director, Collection and Recovery Product Management, Fair Isaac. "Our mutual clients will benefit from preferred contingency rates and superior results from the multi-tier placement strategies, allowing them to earn a higher net return on delinquent receivables than they could by managing collections in-house or by directly outsourcing to collection agencies."
"Creditors seldom have the information they need to choose the right agency, or they lack the resources to manage the performance of outside suppliers," said Lauren A. Irwin-Szostak, founder and president, BPR. "Our approach, in conjunction with Fair Isaac's industry leading solutions, allows creditors to enjoy maximum returns, while unburdening themselves of a non-core business process."
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.
About Business Processes Redefined, LLC
Business Processes Redefined, LLC, is certified as a Woman-Owned Business Enterprise (WBE) by the state of New Jersey and by the Women's Business Enterprise National Council. It is a member of ACA International, the leading trade association for collection professionals, and is accredited by the Better Business Bureau. The firm also is registered with Central Contractor Registration, making it eligible to do business with the U.S. government. Additional information about BPR can be found at www.bprllc.com.
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 ScoreNet network and PlacementsPlus solution, 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, its 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 June 30, 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, ScoreNet and PlacementsPlus 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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