Unique partnership is focused on innovation to help UK companies accelerate growth
Equifax and FICO announced that they have entered into a new partnership for the UK to challenge the status quo in the risk management arena. Building upon a 10-year track record of collaboration in the UK, the two companies are now focused on developing innovative solutions that will help businesses in banking, insurance, retail and other industries accelerate growth while controlling risk and meeting new regulatory requirements.
Financial services providers today are striving to make sharper lending decisions based on more precise customer assessments; adapt more swiftly in a dynamic economic environment; comply with more stringent regulatory demands; fight new and persistent forms of fraud; and improve the customer experience. The new solutions from Equifax and FICO will address these demands, leveraging FICO’s unparalleled predictive analytics and decision management software, Equifax’s unmatched data and analytics on UK consumers, and both companies’ depth of knowledge and experience in credit scoring.
The first joint solution, set to be launched in May, will bring more comprehensive customer data to credit risk analyses, enabling lenders to make more knowledgeable decisions and reduce losses while cross-selling more effectively and building customer loyalty.
Source: Equifax Press Release