FICO® Score X Data

FICO® Score X Data

Expanding financial inclusion by scoring millions more consumers worldwide.

Product Details

Lenders outside the US now have the opportunity to extend credit access to millions of consumers who otherwise cannot be scored responsibly, due to insufficient data in traditional credit bureau files. FICO® Score X Data is a flexible solution that can be delivered in countries through credit reporting agencies or on premises at the lender. Through our growing global partner network, FICO has the unique ability to leverage alternative data sources such as telco, mobile payment, digital footprint, and psychometric survey data to provide reliable credit risk scoring for consumers who can’t be scored with traditional credit bureau data alone.

The risk score can be calculated using characteristics from a combination of data sources. And when appropriate, it can be leveraged in a dual score strategy as complementary to FICO® Scores based on local credit bureau data. FICO® Score X Data provides insight into additional dimensions of credit risk for use in lending decisions. A consistent, predictive risk score using alternative data, can help lenders expand their customer base with confidence.

Identify good risks among previously unscorable consumers

  • Realize rapid portfolio growth. In one implementation, more than 30% of unscorable consumers could now be scored with FICO® Score X Data, providing a potential path of financial inclusion for millions of consumers.
  • Adapt in any region and gain insight into additional dimensions of consumer risk outside of traditional credit bureau files.
  • Garner new business and loyalty from new to credit, immigrants, micro-business owners and other unserved populations as they enter mainstream credit.

‌  Say yes more often. Enables portfolio growth into consumer populations, that previously could not be scored, through the addition of non-traditional data.

‌  No digital data? Our partners can help apply leading edge psychometrics and behavioral data to measure a person’s credit risk based on their answers to questions.

‌  Take advantage of new alternative data sources, delivery platforms and mobile technology, for scalable access to credit that addresses the unique needs of each country. Contact us to learn more.

Resources

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Introducing FICO® Scores for India

Lenders have the opportunity to extend credit access to millions of Indian consumers who otherwise cannot be scored responsibly, due to insufficient data in traditional credit bureau files. A new dual score service from FICO, the leader in...
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FICO® SCORE: CREDIT SCORING INNOVATIONS 1989 to 2018

The FICO® Score is the independent standard in credit risk scoring, trusted by lenders and investors for decades so they can say “yes” with confidence to more consumers. FICO’s enduring focus on innovation has facilitated access to credit ...
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FICO Financial Inclusion Initiative

The Challenge: 1.7 billion people globally are under-banked or have no banking relationship at all. Approximately 1 billion more have access to a bank, but have no credit history. Lenders want to expand their market to include...