Welcome to our dedicated page for Fair Isaac news (Ticker: FICO), a resource for investors and traders seeking the latest updates and insights on Fair Isaac stock.
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.
Bookmark this page for streamlined access to FICO’s official communications and third-party analysis. Return regularly to monitor how the company continues influencing lending practices and data-driven decision-making across global markets.
FICO reported strong Q3 fiscal 2024 results, with revenues of $447.8 million, up from $398.7 million in the prior year. GAAP EPS was $5.05, slightly down from $5.08, while Non-GAAP EPS increased to $6.25 from $5.66. Scores revenues grew 20% to $241.4 million, driven by a 27% increase in B2B revenue. Software revenues rose 5% to $206.4 million, with Software Annual Recurring Revenue up 10% year-over-year. The company raised its full-year guidance, projecting revenues of $1.7 billion and Non-GAAP EPS of $23.16. FICO's CEO highlighted strong adoption of FICO 10 T and FICO Platform, contributing to significant growth across the business.
FICO, a global analytics software leader, has achieved Cloud Security Alliance (CSA) Security, Trust & Assurance Registry (STAR) Level 1 and Level 2 certifications. This recognition solidifies FICO's status as a trusted cloud provider and demonstrates its commitment to security and transparency.
The CSA STAR program is a publicly accessible registry that documents the security and privacy controls of cloud computing offerings. It ensures cloud service providers can maintain data confidentiality, integrity, and availability. FICO's achievement reflects its dedication to delivering a secure cloud environment for clients and adhering to key principles of transparency, rigorous auditing, and harmonization of standards.
Ben Nelson, FICO's chief cybersecurity officer, expressed pride in the recognition, stating it validates their commitment to client data security. Jim Reavis, CEO of CSA, praised FICO for exceeding rigorous standards and setting an industry benchmark for secure cloud computing.
FICO (NYSE:FICO), a leading predictive analytics and decision management software company, has announced a new $1 billion stock repurchase program on July 30, 2024. This program, approved by FICO's Board of Directors, follows the completion of the company's previous stock repurchase program that ran from January 2024 to July 2024. The new program is open-ended, allowing FICO to repurchase its shares from time to time in both the open market and through negotiated transactions. This move demonstrates FICO's confidence in its financial position and commitment to enhancing shareholder value.
FICO, a global analytics software leader, is hosting three free credit education events in Charlotte on August 6th, 2024. These include a Score A Better Future™ (SABF) workshop for adults and two Score A Better Future Fundamentals events for teens. The events aim to enhance participants' understanding of financial health, credit, and the FICO® Score.
In collaboration with Chelsea FC and the U.S. Soccer Foundation, participants will receive free tickets to the Chelsea vs Real Madrid match. Congresswoman Alma Adams will attend the teen event. The initiative is part of FICO's 'Fields of Financial Empowerment' tour, addressing the need for improved financial literacy across the United States.
FICO has partnered with the National Association of Minority Mortgage Bankers of America (NAMMBA) to enhance community lending in underrepresented communities. This collaboration aims to increase the number of lenders obtaining NAMMBA's Certified Community Lender (CCL®) certification, a prestigious designation awarded to less than 5% of mortgage professionals.
FICO will contribute its Score A Better Future™ credit education curriculum to the CCL certification program, helping mortgage professionals better understand credit and prepare clients for homeownership. The partnership focuses on serving diverse communities, including minorities, women, and the LGBTQ+ community, with over 50 million millennials becoming eligible for homeownership in the next decade.
As an Elite Partner, FICO is also a Title Sponsor for NAMMBA CONNECT 2024 in Orlando, FL, from August 21-23, 2024. This initiative aims to transform the mortgage industry and support sustainable homeownership in diverse communities.
FICO, a global analytics software leader, is hosting two free credit education events in Columbus on August 3rd, 2024: Score A Better Future™ (SABF) for adults and Score A Better Future Fundamentals for teens. These events aim to enhance participants' understanding of financial health, credit, and the FICO® Score. In collaboration with Chelsea FC and the U.S. Soccer Foundation, attendees will receive free tickets to the Chelsea vs Manchester City match at Ohio Stadium.
The events are part of FICO's 'Fields of Financial Empowerment' tour, addressing the need for improved financial literacy across the United States. Congresswoman Joyce Beatty, co-chair of the Financial Literacy and Wealth Creation Caucus, will attend the pregame ceremony to support the initiative. The workshops will cover key components of the FICO Score, strategies for improving financial health, and debunk myths surrounding credit scores.
The FICO UK Credit Card Market Report for May 2024 reveals typical seasonal patterns in spending and balance management, but with signs of financial stress. Credit card spending decreased by 2.9% from April to May, averaging £805, while average balances fell 0.3% month-on-month but remained 6.3% higher than May 2023. Notably, cardholders missing one payment increased by 8.4% from April to May, and cash withdrawals on credit cards rose by 2.2%, indicating potential financial strain. The report highlights that missed payments have been trending upward since August 2022, with significant year-on-year increases across one, two, and three missed payment categories. Average balances for missed payments remain higher year-on-year, potentially due to inflation.
FICO's recent survey reveals that 1 in 3 Indonesians have abandoned opening a personal bank account due to complex identity checks. The study highlights Indonesian consumers' low tolerance for inefficient digital experiences when opening financial accounts online. Key findings include:
- 57% of Indonesians expect to answer 10 questions or less during account applications
- 33% abandon credit card applications due to complex identity checks
- 47% won't complete a digital mortgage application with more than ten questions
- 81% value ease of use and 24/7 availability for digital account opening
The survey emphasizes the need for financial institutions to balance security with user-friendly processes to improve customer retention and satisfaction in Indonesia's digital banking landscape.
FICO, a global analytics software leader, is hosting free financial literacy events in Atlanta on July 31, 2024. The Score A Better Future (SABF) event for adults and Score A Better Future Fundamentals for teens aim to enhance understanding of financial health and credit scores. In partnership with Chelsea FC and the U.S. Soccer Foundation, participants will have the opportunity to attend the Chelsea x Club America match at Mercedes-Benz Stadium.
The events are part of FICO's 'Fields of Financial Empowerment' tour, addressing the need for improved financial literacy across the U.S. Attendees can receive free consultations with Money Management International to discuss their FICO® Score and set financial goals. The initiative involves collaborations with various national and local organizations, including the YMCA of Metro Atlanta, to provide valuable financial education resources.
FICO announces that CMG Mortgage, Inc., a top 10 U.S. lender, has adopted FICO® Score 10 T, the company's newest and most predictive scoring model. CMG will use the model to analyze loans across its $90 Billion mortgage servicing portfolio. This adoption aims to provide more options to customers while reducing delinquencies.
FICO Score 10 T offers greater precision in lending decisions, potentially increasing mortgage originations by up to 5% without additional credit risk, or reducing default risk and losses by up to 17%. Xactus and Birchwood Credit Services will supply CMG Financial with the new score.