Today, FICO, a global predictive analytics and decision management software leader, and Quod, one of the largest data intelligence companies in Brazil, jointly launched a solution for credit risk assessment of small and medium-sized companies (SMEs). To perform the analysis, the Quod Score PJ PME by FICO uses innovative data sources, such as data from the Positive Credit Registry and information about the company and its partners, designed to be in full compliance with the General Data Protection Law (LGPD).
Similar to a consumer credit score, the Quod Score PJ PME by FICO converts the SME's credit profile data into a numerical score that is designed to predict the probability of future payment. Based on the characteristics of the company and its partners, it incorporates registration data and credit behavior data to refine the risk forecast - its integrated vision adds value, making analysis faster and more accurate.
The solution can be applied to SME credit products, loans, and leases across the life cycle from acquisition and account management to collections as well as cross-selling.
“As we expand into additional countries, FICO brings a depth of global analytic and scoring experience to enable faster, more precise credit decisions. With the introduction of Quod Score PJ PME by FICO, we continue to safely expand credit access for small and medium-sized businesses in this key region,” says Alexandre Graff, vice president and general manager of FICO Latin America and the Caribbean.
“Small and medium-sized companies are of great importance for job creation and the economy's resumption. However, the credit risk assessment process of these companies can often be expensive and time-consuming, which means that many loans are denied. In this scenario, the Quod Score PJ PME by FICO acts in an agile and consistent manner, enabling creditors to expand their SME credit portfolios and control risk with confidence,” says Ricardo Thomaziello, Chief Data Officer at Quod.
The new score launch in Brazil further highlights FICO’s global innovation and momentum. FICO is now present in over 30 countries including Mexico, the Philippines, African countries, India, and additional countries around the world.
A world leader in predictive analysis software, FICO specializes in examining data and applying technologies such as artificial intelligence, machine learning and analytics to predict consumer behavior, optimizing companies' interactions with their customers. Operating in more than 100 countries, the company has developed a cloud platform that contributes to making more than 10 billion business decisions a year and that protects 2.6 billion cards against fraud. FICO brings together more than 195 global patents on technologies that increase profitability and customer satisfaction, contributing to the growth of companies in various segments, such as finance, insurance, retail, telecommunications, among others. Founded in 1956 and headquartered in Silicon Valley, FICO opened its office in Brazil in 1998.
Quod is one of the largest data intelligence companies in Brazil, authorized by the Central Bank to operate the Positive Data. Combining a large data set of its own, partner’s data and cutting-edge technology, the company develops decision-making solutions for several purposes: customer prospecting, credit risk management, customer portfolio management, fraud prevention, compliance and collections intelligence. The company started operations in late 2018 and serves customers from all sectors of the economy, including financial institutions, insurance companies, retailers, telecommunications operators and small and medium-sized companies.
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