FICO Score Planner | Help Consumers Understand Credit Score Goals

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Scoring Solutions

SAN JOSE, Calif. — July 18th, 2018

  • Innovative consumer empowerment tool developed by FICO® Score data scientists
  • The FICO® Score Planner can be used by lenders and resellers to help enable consumers to set their target FICO® Score goals, understand potential credit actions they could take, and receive updates on their progress toward their goals
  • FICO® Scores are the most well known and valued credit scores by consumers with 90% brand awareness1
  • FICO® Scores are the most widely used credit score and are included in over 90% of U.S. lending decisions, providing transparency, disclosure and consistency for lenders and consumers

Today, analytics software firm FICO (NYSE:FICO) announced the release of the FICO® Score Planner.  Another first-of-its-kind tool built by FICO® Score data scientists, the FICO® Score Planner is designed for lenders and resellers to empower consumers to use on their financial health journey. The FICO® Score Planner enables consumers to set a target FICO® Score goal and desired time duration to reach their goal.  These inputs along with a consumer’s current FICO® Score and credit report are analyzed by the FICO® Score Planner algorithm, which produces a set of personalized potential actions consumers could take to help reach their target FICO® Score goal.  Consumers can then track their progress to their goal or modify their goals along their way.

“FICO is committed to bringing innovative, new, financial education solutions for consumers to our lender and reseller partners,” said Geoff Smith, vice president, Consumer Scores, at FICO. “The FICO Score Planner is our latest unique tool that enables lenders and reseller partners to help their customers understand how to better manage and monitor their progress to improved financial health.  There is nothing like this in the market today.”

A significant new tool, the FICO® Score Planner joins a suite of FICO® Score features and content available to lenders and resellers.  This new tool helps lenders and resellers provide their customers with a valuable feature to better empower them on their credit improvement journey.   Lenders and resellers can benefit through new customer acquisition, increased customer engagement, improved customer experience and satisfaction.

“The products available at Experian.com help people to take control of their financial health,” said Jeff Softley, Chief Marketing and Revenue Officer at Experian Consumer Services. “The FICO Score Planner provides important information that strengthens the value of those products."

Consumers can benefit from the new FICO® Score Planner through a clear and simple potential credit action plan and monitor progress toward their goal.  Through an intuitive and easy-to-navigate user experience, consumers engage with the planner to see their current FICO® Score, enter a desired FICO® Score goal, and timeline to reach their goal.  Based on the customer’s current FICO® Score, credit profile and desired FICO® Score goal and timeframe, the FICO® Score Planner produces personalized potential action plans to help consumers clearly outline how they could improve their credit standing.  Each month the consumer gets an update on their progress toward their FICO® Score goal and can reset their goal as well as time horizon, if desired.  They can then receive and follow revised action plans. 

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 180 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time. Learn more at http://www.fico.com.

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FICO is a registered trademark of Fair Isaac Corporation in the United States and in other countries.

Media Contact:
Greg Jawski
Porter Novelli
+1 212-601-8248
greg.jawski@porternovelli.com

Media contacts

Americas

Greg Jawski

Europe, Middle East & Africa

Darcy Sullivan

dsullivan@fico.com
+44 (0) 209-940-8719

Asia Pacific

Saxon Shirley

saxonshirley@fico.com
+65 6422-7795

Latin America

Marisa Arribas

marisaarribas@fico.com
+1 786 482 7231

América Latina

Milla Delfino

milladelfino@fico.com
+55 11 97673-6583

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