FICO® risk scores rank-order consumers according to the likelihood that their credit obligations will be paid as expected.
The recognized industry standard in consumer credit risk assessment
FICO® risk scores play a pivotal role in billions of business decisions each year. With the accurate, reliable and fast credit risk assessment provided by FICO® scores, credit grantors are empowered to make more profitable, automated decisions regarding prospects, applicants and customers. FICO® risk scores are widely regarded as essential building blocks for devising successful, precisely targeted marketing, origination and customer management strategies by credit grantors, insurance providers and telecommunications companies.
How and why they work...
FICO® risk scores are developed based on advanced, proprietary predictive model development technologies by Fair Isaac analysts with extensive credit industry and data management expertise. These sophisticated scoring models are updated regularly to reflect changes in consumer credit behavior and lending practices, leveraging recent credit performance data of millions of consumers.
Classic FICO® Risk Scores
Classic FICO® risk scores rank-order consumers according to the likelihood that their credit obligations will be paid as expected. Classic FICO® scores are by far the most-used broad-based risk score available in the market today, and are considered the gold standard of bureau-based risk scores for credit risk management.
Ask for the classic FICO® scores by name from reporting agencies in the US, Canada and South Africa:
- BEACON® at Equifax US and Canada
- FICO® Risk Score, Classic at TransUnion US
- Experian/Fair Isaac Risk Model at Experian
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