Long-term agreement gives lenders flexibility in making the best risk management decisions for their businesses
SAN JOSE, Calif. and CHICAGO — February 9, 2015—FICO (NYSE:FICO), the predictive analytics and decision management software company, and TransUnion today announced a renewed multi-year agreement to provide FICO® Scores to the U.S. banking community. TransUnion will continue reselling FICO Scores and provide FICO access to its consumer data for the purposes of developing and marketing new analytics that will meet the changing requirements of businesses.
As part of the new agreement, FICO will be able to sell FICO® Scores based on TransUnion credit data to lenders and third-party resellers. Consumers will continue to have access to their FICO Score based on TransUnion credit data at www.myfico.com. FICO Scores based on TransUnion credit data will also be available to consumers through third parties.
“Responsible lending growth requires strong management tools,” said Jim Wehmann, executive vice president for Scores at FICO. “The FICO Score is a market leader in consumer credit risk assessment. Our enduring relationship with TransUnion ensures that we can continue to provide lenders and consumers with powerful tools for understanding credit risk.”
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion reaches consumers and businesses in more than 30 countries around the world on five continents. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide.
We call this Information for Good. www.transunion.com/business
FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company’s groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at www.fico.com.
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