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December 16, 2011
LONDON—December 15, 2011—FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced that it has joined the “Safe Harbor” list of U.S. companies that agree to comply with European privacy rules. Companies that add their name to the Safe Harbor list adhere to the safe harbor framework developed by the U.S. Department of Commerce in coordination with the European Commission.
The Safe Harbor provides guidance for U.S. organizations on how to provide adequate protection for personal data from Europe, as required by the European Union's Directive on Data Protection. Companies on the list must not only agree to follow the Directive’s rules, they must be in compliance already.
For the past 10 years, FICO has had so-called “model clauses” language in its contracts with European Union companies, in which it vouchsafes that it is bound by European privacy laws. The company’s strict privacy policies are also stated online.
“By joining the Safe Harbor list, we are reassuring every European business that we take privacy as seriously as they do,” said Mike Gordon, vice president and managing director of FICO in Europe, the Middle East and Africa. “While we are not a data provider, our solutions rely on analyzing sensitive customer data in order to develop powerful predictive analytics. FICO can engage our global analytics team on client projects, and give our European clients greater access to hosted solutions, while giving our clients confidence that their data is protected under the world’s strictest rules.”
The full list of US-based companies on the Safe Harbor list is available at https://safeharbor.export.gov/list.aspx. FICO is listed under its full corporate name, Fair Isaac Corporation, and was certified to Safe Harbor effective October 18, 2011.
FICO (NYSE:FICO), formerly known as Fair Isaac, delivers superior predictive analytics solutions that drive smarter decisions. The company’s groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO’s innovative solutions include the industry-leading solutions for measuring credit risk, managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world’s top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands.
FICO: Make every decision count™.
For FICO news and media resources, visit www.fico.com/news.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business 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 and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO’s SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2011. If any of these risks or uncertainties materializes, FICO’s results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO and “Make every decision count” are trademarks of Fair Isaac Corporation in the United States and other countries.
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