FICO

From Wikipedia, the free encyclopedia
Not to be confused with The Financing Corporation, a mixed-ownership government financing vehicle for the Federal Savings and Loan Insurance Corporation.
FICO
Type Public company
Traded as NYSE: FICO
Founded 1956
Headquarters 181 Metro Drive, Suite 700
San Jose, CA
Key people William J Lansing CEO
Products FICO Score, TRIAD, Blaze Advisor, Falcon Fraud, Debt Manager, Model Builder
Website www.fico.com

FICO is an American public company that provides analytics and decision making services—including credit scoring[1]—intended to help financial services companies make complex, high-volume decisions.[1]

History

A pioneer credit score company, FICO was founded in 1956 as Fair, Isaac and Company by engineer Bill Fair and mathematician Earl Isaac.[2] FICO was first headquartered in San Rafael, CA, United States.[3]

Selling its first credit scoring system two years after the company's creation,[2] sales of similar systems soon followed. In 1987 FICO went public.[2] The introduction of the first general-purpose FICO score was in 1989 when BEACON debuted at Equifax.[2]

Originally called Fair, Isaac and Company, it was renamed Fair Isaac Corporation in 2003.[2] The company rebranded again in 2009, changing its name and ticker symbol to FICO.[4]

FICO also sells several products, including Falcon Fraud Manager for banks and corporations, which is a neural network-based application designed to fight fraud by proactively detecting unusual transaction patterns.[5] Other well known leading products include Blaze Advisor (Rules/Decisioning creation and management), Debt Manager (Debt Collections and Recovery offers for 1st and 3rd party debt collectors), Customer Dialogue Manager and Analytic Offer Manager (Marketing propensity and campaign management software for retail, healthcare, and Financial Service providers), the Decision Management Platform (for Cloud and on-premise deployment of decision and optimization solutions), and the FICO Analytic Cloud (Software-as-a-Service offers for decision, big-data, and analytic solutions as well as a market place for distribution of incremental services and technology offers).

Location

FICO has its headquarters in San Jose, California, United States[6] and has offices in Asia Pacific, Australia, Brazil, Canada, China, India, Korea, Malaysia, Singapore, Spain, United Kingdom, and the USA. Its main offices are located in San Jose, CA, Minneapolis, MN, New York City, NY, Fairfax, VA, San Rafael, CA, and San Diego, CA.[7]

FICO score

A measure of credit risk, FICO scores are available through all of the major consumer reporting agencies in the United States and Canada: Equifax;[8] Experian;[8] TransUnion;[8] PRBC.[9]

Clients

FICO provides its products and services to very large businesses and corporations across a number of fields, notably banking.

See also

References

  1. ↑ 1.0 1.1 About Us FICO Official Site
  2. ↑ 2.0 2.1 2.2 2.3 2.4 History FICO Official Site
  3. ↑ FICO score, Retrieved December 01, 2011.
  4. ↑ FICO Unveils New Ticker Symbol on New York Stock Exchange FICO Official Site
  5. ↑ Kathryn Balint, "Fraud fighters," San Diego Union-Tribune, 18 February 2005.
  6. ↑ Worldwide Locations FICO Official Site
  7. ↑ FICO.com
  8. ↑ 8.0 8.1 8.2 Credit Reporting Agencies FICO Official Site
  9. ↑ Fair Isaac and PRBC Team Up to Enhance Credit Risk Tools Used by Mortgage Industry FICO Official Site

External links

This article is issued from Wikipedia. The text is available under the Creative Commons Attribution/Share Alike; additional terms may apply for the media files.