May 8th, 2013
FICO and Experian Renew Agreement to Provide FICO® Scores to North American Financial
Long term agreement facilitates expanded analytics for risk management
SAN JOSE and COSTA MESA, Calif. – May 8, 2013 – FICO (NYSE: FICO), a leading predictive analytics and decision management software company, and Experian®, the leading global information services company, today announced that they have agreed to extend their long-standing partnership to provide FICO® Scores to the North American banking community. Additionally, Experian has agreed to expand FICO’s access to its consumer data for the purposes of developing and marketing new analytics that will meet the changing requirements of businesses in this era of intense competition and heightened regulatory requirements.
As part of the new long-term agreement, FICO will be able to license its analytics directly to lenders. Experian will support these FICO direct licenses by agreeing to deliver the FICO score, derived from Experian’s industry-leading data, to mutual clients. FICO’s expanded access to Experian’s consumer credit data will enable the creation of models for additional predictive power. Furthermore, Experian will make FICO Scores available to consumers through myFICO.com and through third parties.
“Between growing competitive pressures and increasingly complex regulatory requirements, lenders are gravitating toward the best data and analytic tools available,” said CEB TowerGroup Senior Research Director Craig Focardi. “Lenders also rely heavily on long-standing data and analytics vendor partnerships that provide continued options and new product offerings.”
http://www.fico.com/en/Company/News/...usinesses.aspx
FICO and Experian Renew Agreement to Provide FICO® Scores to North American Financial
Long term agreement facilitates expanded analytics for risk management
SAN JOSE and COSTA MESA, Calif. – May 8, 2013 – FICO (NYSE: FICO), a leading predictive analytics and decision management software company, and Experian®, the leading global information services company, today announced that they have agreed to extend their long-standing partnership to provide FICO® Scores to the North American banking community. Additionally, Experian has agreed to expand FICO’s access to its consumer data for the purposes of developing and marketing new analytics that will meet the changing requirements of businesses in this era of intense competition and heightened regulatory requirements.
As part of the new long-term agreement, FICO will be able to license its analytics directly to lenders. Experian will support these FICO direct licenses by agreeing to deliver the FICO score, derived from Experian’s industry-leading data, to mutual clients. FICO’s expanded access to Experian’s consumer credit data will enable the creation of models for additional predictive power. Furthermore, Experian will make FICO Scores available to consumers through myFICO.com and through third parties.
“Between growing competitive pressures and increasingly complex regulatory requirements, lenders are gravitating toward the best data and analytic tools available,” said CEB TowerGroup Senior Research Director Craig Focardi. “Lenders also rely heavily on long-standing data and analytics vendor partnerships that provide continued options and new product offerings.”
http://www.fico.com/en/Company/News/...usinesses.aspx