FICO Announces New Consumer Credit Education Program for Lenders

The richest set of consumer credit education tools available and the only one built on industry-leading FICO^® Score

SAN JOSE, Calif. —March 26, 2014 — Building upon its efforts to give consumers increased access to their FICO^® Score and help lenders be more informative about credit scoring, FICO (NYSE:FICO) today announced FICO^® Custom Credit Education.  Through this solution, lenders can license from FICO enhanced credit education tools to include in their consumer financial education programs.

With FICO^® Custom Credit Education, lenders can provide their customers with the richest set of tools in the marketplace to improve their financial literacy.  These include:
 
• Unparalleled access to the FICO^® Score simulator.  Built by FICO data scientists leveraging the latest FICO^® Score algorithm, the FICO^® Score simulator is the most powerful, intuitive and easy-to-use score simulator available.  It is the only simulator modeling behavioral impacts on a consumer’s FICO^® Score.

• Positive factors impacting the consumer’s FICO^® Score. Positive factors reinforce the good credit behaviors of high achievers, and encourage those customers who may be working to manage their credit or improve their financial health.

• Personalized credit analysis and comparisons to FICO^® Score High Achievers. Beyond general credit information, this analysis provides a wealth of personalized feedback for consumers trying to make sense of their credit reports and scores.

• FICO^® Score monitoring and alerts. Alerts of changes to the FICO^® Score provide one of the best early indicators of fraud.
 
Other components include the FICO^® Score, a FICO^® Score meter, a 12-month FICO^® Score trending chart, up to four negative factors impacting the consumer’s score and FICO’s extensive collection of educational content.

For lenders wanting to offer their customers FICO^® Scores and additional education tools, FICO^® Custom Credit Education enables them to work with credit bureau partners to provide a powerful collection of FICO^® Score-based content and tools.

“Unlike educational scores, the FICO^® Score is the most relevant and meaningful score to consumers because of its wide use by lenders in risk management decisions,” said James Wehmann, executive vice president, Scores.  “Lenders no longer have to choose between the FICO^® Score and enhanced credit education tools – now they can offer both to their customers.”

With over 10 billion FICO^® Scores sold to lenders in 2013, the FICO^® Score is the credit score used in the overwhelming majority of lending decisions in the U.S.  The company has been educating consumers about the FICO^® Score – The score lenders use™ for more than 10 years at www.myfico.com and www.scoreinfo.org.

The FICO^® Custom Credit Education solution is available today to U.S. lenders.

Sobre FICO
FICO (NYSE: FICO) es una empresa líder de software de analítica que ayuda a negocios de más de 80 países a tomar mejores decisiones que incrementen el crecimiento, la rentabilidad y la satisfacción del cliente. El innovador uso de Big Data y de algoritmos matemáticos por parte de la empresa para predecir el comportamiento del consumidor ha transformado sectores enteros. FICO ofrece software de analítica y herramientas que se emplean en múltiples sectores para gestionar riesgos, combatir el fraude, crear relaciones con clientes más rentables, optimizar operaciones y cumplir con estrictas regulaciones gubernamentales. Many of our products reach industry-wide adoption. These include the FICO^® Score, the standard measure of consumer credit risk in the United States. Las soluciones FICO emplea estándares de código abierto y cloud computing para maximizar la flexibilidad, hacer despliegues más rápidos y reducir costes. La empresa también ayuda a millones de personas a gestionar su salud crediticia personal.

FICO: Make every decision count™. Learn more at www.fico.com.
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FICO, “Make every decision count” and “The score lenders use” are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.