As the importance of a robust digital engagement crystallized during the pandemic, some companies were better prepared to make adjustments.
FICO has released a new product to help lenders figure out which consumers are most financially resilient and therefore better...
Earlier this month FICO announced changes to how they will be calculating credit scores when they release their new scoring...
Credit scoring company FICO is starting to make some changes to how they view consumers with rising debt and those...
Indian banks are working with fintech startups to develop technology similar to what is used in markets like Africa and China; the banks hope to use social data and online shopping habits to underwrite borrowers; FICO recently began to offer credit scores in India using alternative data and there are many startups working on similar efforts. Source
One of the challenges that has plagued consumer lenders over the years is that when times get difficult some consumers...
Consumer awareness of their financial health has never been higher; whether planning to buy a home, car or finance an...
Steve Allocca is skeptical that the announcement this week of FICO 10, the new credit scoring model from Fair Isaac,...
FICO CEO Will Lansing said some banks are confusing customers by using a different score which he has dubbed Fako; VantageScore, the company behind the alternative scores, says their scoring is used by thousands of lenders for credit decisions and FICO is upset over competition; FICO is the most widely used credit scoring method as trillions worth of loans have been extended using FICO; JP Morgan Chase and Capital One both use VantageScore to help customers stay alerted about their credit health and not necessarily to underwrite loans. Source.
Scott Zoldi, chief analytics officer at FICO, discusses innovation in credit data, credit scoring and fraud protection; FICO has been using artificial intelligence for decades and the firm has over 130 patents; Scott has experience in theoretical physics and joined FICO in 1999 to focus on the use and development of data with a specific interest in machine learning; Scott talks about the company's standard credit scoring services and also the innovative solutions FICO has developed including the FICO XD score for financial inclusion and their fraud solution product, Falcon. Source