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Fair Isaac Corporation (FICO) delivers essential analytics solutions powering credit scoring and risk management worldwide. This dedicated news hub provides investors and professionals with timely updates on FICO’s strategic initiatives, financial performance, and industry leadership.
Access authoritative coverage of earnings reports, product innovations, and regulatory developments shaping the financial technology sector. Our curated collection ensures you stay informed about critical announcements including fraud detection advancements, credit model updates, and enterprise software enhancements.
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On June 8, 2022, FICO will host a panel discussion at the National Association of Women Business Owners (NAWBO) Advocacy Days in Washington, DC. The event, part of FICO's 'Score A Better Future' program, aims to educate female entrepreneurs on the significance of credit for business growth. Congresswoman Claudia Tenney will deliver introductory remarks, leading a discussion featuring industry experts. This initiative highlights the importance of financial literacy for women in business, enabling them to better manage their credit and achieve their goals.
FICO recently announced its FICO Score suite's ability to score approximately 232 million U.S. consumers, representing 90% of the credit-eligible population. The suite addresses the needs of around 28 million consumers with minimal credit data and 25 million who are credit invisible. By integrating alternative data sources, FICO can provide scores to over 27 million additional consumers. This approach not only improves credit access but also focuses on segments typically underserved by traditional credit scoring methods, enhancing lender confidence in consumer assessments.
FICO (NYSE: FICO) announced that Brazilian payment network provider Elo has achieved a 30% reduction in fraud for its card issuers using the FICO® Falcon® Fraud Manager. Elo has successfully declined online fraudulent transactions, protecting over 30 issuers across Brazil's financial landscape. The company received the 2022 FICO® Decisions Award for its advancements in fraud management, demonstrating significant improvements in security amidst changing customer behavior during the pandemic.
FICO analyzed UK credit card trends for March 2022, revealing a modest reduction in average card spend by 1.99% and a slight dip in average active balance by 0.54%.
However, the percentage of payments to balance rose by 2.32%, indicating responsible financial behavior amid a cost-of-living crisis. Notably, missed payments increased, with one month in arrears up 16.51% month-on-month. These findings suggest consumers are prioritizing repayments while facing rising inflation pressures.
Círculo de Crédito, the fastest-growing credit bureau in
At FICO® World 2022, FICO announced significant enhancements to its FICO® Platform, aimed at transforming data management and analytics across industries. These capabilities leverage machine learning and AI for actionable insights and improved customer engagement. With over 40% annual recurring revenue growth for 10 consecutive quarters, FICO showcases its industry expertise by adding 23 new data connections and advanced model execution capabilities. These enhancements reinforce FICO's position in financial services and other sectors, facilitating better decision-making and customer lifecycle management.
FICO (NYSE: FICO) announced that Traxión has won the 2022 FICO® Decisions Award as an ESG Champion. Utilizing FICO route optimization technology, Traxión reduced deadhead trips by 2.9 million kilometers, saving USD$725,000 and cutting emissions by 458 metric tons. Once fully optimized, the company expects to decrease empty trips by 20%, saving USD$2.5 million and reducing emissions by 1,580 metric tons. Traxión's implementation of the FICO® Platform has greatly improved efficiency, achieving an 80% increase in analytic speed.
Recent research highlights the dissatisfaction of over 62% of SMEs in the APAC region with traditional banks, particularly regarding credit access and lack of support during the COVID-19 pandemic. Notably, 67% of Indonesian SMEs plan to explore alternative borrowing products in 2022. The study, conducted by RFI Global for FICO, underscores banks' need to improve transparency and customer experience to retain business. Key decision factors for SMEs include competitive interest rates and a streamlined application process. Without change, banks risk losing ground to alternative lenders.
