In addition to delivering advanced analytic and decision management applications for customer management, risk management and fraud control to the world's major financial institutions, Fair Isaac is a leading innovator in risk management solutions for retail and small business lending. The company has closely tracked the development of Basel II and other regulatory trends and is collaborating with clients in affected industries to address required changes before new guidelines take effect.
"We believe being positioned in the Leaders Quadrant of the growing Basel II solutions market by Gartner is confirmation of our ability to help lending institutions implement advanced risk management operations that help them comply with new regulations and meet aggressive portfolio growth and profitability goals," said Andrew Jennings, vice president and general manager, Global Customer Management, Fair Isaac. "Effective compliance solutions integrate data, analytics, strategies, business rules, processes and technology in a continuous cycle of learning and improvement. As a worldwide risk management leader, Fair Isaac is uniquely positioned to assist lenders in turning Basel II compliance into opportunity."
The Basel II Capital Accord (Basel II), developed to enhance the stability of global financial systems, redefines the methodology institutions use for calculating capital reserves, making these calculations more sensitive to risk. Companies that most effectively monitor, scrutinize and mitigate portfolio credit, operational and market risk will receive the greatest rewards. Gartner defines a Basel II solution as an integrated risk management platform that enables the collection, preparation, management, calculation and reporting of risk elements by a financial services provider during the course of its current and anticipated operations. (2)
The implementation of best practice risk management including credit scoring, segmentation and decision automation techniques can play a critical role in achieving competitive advantages in capital calculations and requirements. Companies working with Fair Isaac for Basel II compliance are implementing scoring and segmentation through solutions like Fair Isaac's FICO® scores and TRIAD™ adaptive control system.
Businesses also can tap the advanced fraud detection and business rules management capabilities of Fair Isaac's Falcon One™ system and Fair Isaac Blaze Advisor, which are already in wide use by companies in financial services and other industries. Falcon One system is a new enterprise fraud software solution for effectively combating both existing and emerging types of fraud at every customer interaction. Blaze Advisor allows customers to easily add and update regulatory rules in new or existing systems, while integrating these rules with risk or other models in production.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive modeling, decision analysis, intelligence management, decision management systems and consulting services power billions of mission-critical customer decisions a year. Founded in 1956, Fair Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce fraud and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair Isaac solutions, as do insurers, retailers, telecommunications providers, healthcare organizations, and government agencies. Through the www.myfico.com Web site, consumers use the company's FICO® scores, the standard measure of credit risk, to manage their financial health.
About the Magic Quadrant
The Magic Quadrant is copyrighted September 2005 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
(1) Magic Quadrant for Basel II Risk Management Application Software, 2005, G00130508. D. Furlonger and D. McKibben, September 16, 2005.
(2) Magic Quadrant for Basel II Risk Management Application Software, p. 7.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac 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 any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the products to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, 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, 2004, and quarterly report on Form 10-Q for the period ended June 30, 2005. 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.
Europe, Middle East & Africa
+44 (0) 209-940-8719
+1 786 482 7231
+55 11 97673-6583
Take the next step
Connect with FICO for answers to all your product and solution questions. Interested in becoming a business partner? Contact us to learn more. We look forward to hearing from you.