Equifax and FICO Launch New Risk Score in UK

Posted by Joachim Bartels | Oct 5, 2012 | Credit Scoring & Decision System, Equifax, FICO (Fair Isaac), Member, Member News, United Kingdom | 0 |

Equifax and FICO have launched a new risk score to identify which UK consumers can handle more credit.

FICO, a provider of analytics and decision management technology, has teamed up with Equifax to create a new tool called FICO Credit Capacity Index, which is built on Equifax’s risk score, Risk Navigator 4.

The results of initial analysis have shown that UK card issuers could safely extend more credit to 15% more consumers on average. The new solution from the Equifax-FICO alliance gives lenders an effective way to assess a consumer’s ability to manage additional credit. It will allow issuers to take a forward-looking view of credit risk, enabling them to grow their customer portfolios without extending credit to consumers who will be unable to manage the additional debt.

Source: Mortgageintroducer.com

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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