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President Obama Praises FICO | Increasing Consumer Access to Free FICO Scores

18 de octubre de 2014

President Obama Acknowledges and Praises FICO and Leading Banks for Increasing Consumer Access to Free FICO Scores

FICO Scores 18 de octubre de 2014

Citi latest participant as FICO Score Open Access grows to 60 million consumers

 

WASHINGTON, DC.—October 17, 2014—In remarks today, President Barack Obama recognized and praised FICO (NYSE:FICO), the predictive analytics and decision management software company, and several leading lenders, for their efforts to help consumers understand their FICO® Scores through the FICO® Score Open Access program. The President applauded these companies for improving consumers' awareness of their credit health and helping them identify unexpected shifts in their credit score, which could be an indicator of identity theft.

FICO® Score Open Access was launched in November 2013 with eight million eligible credit card accounts. By the end of 2014, that number will more than triple to 32 million eligible credit accounts, and grow to more than 60 million in early 2015, with the addition of new participants, including Citi. Besides credit card accounts, the program has been expanded to include deposit accounts, auto loans and student loans.

Lenders who join the program share the same FICO® Score they are using to manage their customers' credit accounts. The program also provides educational information, including actionable explanations of the consumer's FICO® Score, to help consumers manage their financial health over time. Analysis of some first-year participants shows a discernible correlation between consumers who take advantage of the program and significantly lower delinquencies versus those who do not.

"Though it's still early, analysis of some program results to date shows that the consumer's ability to view his or her FICO Score can lead to higher engagement with his or her lender," said Jim Wehmann, executive vice president, Scores for FICO. "We're also seeing that having regular access to their FICO score can motivate some customers to adopt behaviors that will contribute to their overall financial health. If these trends continue, it could be good news for everyone with a stake in the consumer credit system."

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.

For FICO news and media resources, visit www.fico.com/news.

FICO and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.

Contactos de la sala de prensa

Greg Jawski
Américas

greg.jawski@porternovelli.com
+1 212-601-8248

Darcy Sullivan
Europa, Oriente Medio y África

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

Saxon Shirley
Asia Pacífico

saxonshirley@fico.com
+65 6422-7795

Marisa Arribas
Latinoamérica

marisaarribas@fico.com
+1 786 482 7231

Milla Delfino
América Latina

milladelfino@fico.com
+55 11 97673-6583