fair isaac corp (FICO) Key Developments
FICO Announces the Availability of the FICO(R) Falcon(R) Platform for Enterprise Fraud Management
Aug 26 14
FICO announced the availability of the FICO(R) Falcon(R) Platform for enterprise fraud management. The FICO Falcon Platform gives institutions and their customers real-time protection from fraud across multiple payment channels, products and services. The FICO Falcon Platform puts the company's FICO(R) Falcon(R) Fraud Manager technology at the heart of a modular, flexible approach to enterprise fraud protection. Smaller institutions can begin with a rules-based system for detecting transaction fraud in real time and managing suspected fraud cases. Because of the platform's support for such open source technologies as Linux, start-up infrastructure costs can be as little as one tenth what it has traditionally taken to deploy FICO Falcon Fraud Manager. For larger credit grantors and current Falcon Fraud Manager clients, the FICO Falcon Platform can substantially reduce the cost of expanding portfolios or extending protection to new products or channels. A credit grantor can systematically add connected levels of protection by deploying fraud analytic modules specifically developed to detect fraud in targeted channels, including checking /current accounts, e-payments, mobile payments and payment cards.
Fair Isaac Corporation, Board Meeting, Aug 19, 2014
Aug 21 14
Fair Isaac Corporation, Board Meeting, Aug 19, 2014. Agenda: To declares quarterly dividend; and to approve stock repurchase programme.
FICO Declares Quarterly Cash Dividend, Payable on September 24, 2014
Aug 20 14
Fair Isaac Corporation has declared a 2 cent per share quarterly dividend, payable on September 24, 2014, to shareholders of record on September 10, 2014. The dividend was declared during a meeting of the company's Board of Directors on August 19, 2014.
Fair Isaac Corporation Releases FICO Score Economic Calibration Service 2.0
Aug 14 14
Fair Isaac Corporation has released FICO Score Economic Calibration Service 2.0. This service forecasts how credit risk levels at each FICO Score range would change under different economic scenarios, and can help financial institutions stress-test their credit portfolios with loss forecasting models while coordinating capital allocation. The FICO Score Economic Calibration Service combines FICO's patented methodology with Moody's Analytics' expanded and regionalized forecasts of economic data under the Federal Reserve's Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act Stress Test (DFAST) scenarios and Corelogic's Home Price Index (HPI). The Economic Calibration Service 2.0 provides a forward-looking estimate of consumer repayment risk across the full range of the FICO Score, based on multiple economic scenarios. By using the service, lenders can understand how repayment risk for consumers would change under varied economic conditions. The newest release of the service captures the most recent consumer credit behavior following the economic downturn by leveraging credit data through April 2014.
FICO Announces its Score 9 Introduces Refined Analysis of Medical Collections
Aug 7 14
FICO announced that the new FICO(R) Score 9 introduces a more nuanced way to assess consumer collection information, bypassing paid collection agency accounts and offering a sophisticated treatment differentiating medical from non-medical collection agency accounts. This will help ensure that medical collections have a lower impact on the score, commensurate with the credit risk they represent. These enhancements help lenders because they result in greater precision. At the same time, the median FICO Score for consumers whose only major derogatory references are unpaid medical debts is expected to increase by 25 points. FICO has used sophisticated modeling techniques to make the new FICO(R) Score 9 more predictive of a consumer's likelihood to repay a debt than previous versions. This latest version of the FICO(R) Score, the industry-standard measure of U.S. consumer credit risk, captures recent consumer behavior to give lenders better risk assessments across the credit lifecycle and all credit products. It will be available to lenders through the U.S. credit reporting agencies starting this fall. FICO Score 9 also supports the desire of lenders to better assess the risk of consumers with limited credit history -- so-called thin files. In the model development process, FICO data scientists represented a consumer's repayment behavior in degrees of risk. For example, instead of classifying a consumer as someone who paid or didn't pay her bills in absolute terms, the various degrees of the consumer's payment history have been quantified. The end result is a score with an improved ability to assess the risk of thin files. FICO(R) Score 9 assesses consumer credit risk on all credit product lines -- mortgages, auto loans, credit cards and personal loans -- and can be used across the entire customer credit lifecycle, starting with marketing/pre-screen, originations and account management, all the way through early-stage collections. FICO's innovative, multi-faceted modeling approach incorporates a more exhaustive characteristic selection process to build a score that is even more effective across a wide variety of situations. This approach also uses the Multiple Goal Scorecard technology of FICO(R) Model Builder, which balances a traditional risk metric evaluating all accounts with one evaluating originations risk across all product lines, such as mortgages, credit cards or auto loans. FICO(R) Score 9 will also be the most consistent FICO(R) Score across all three credit bureaus. This generation of the FICO Score uses the same development window across the three different credit bureaus to generate scores that will be as consistent as possible.