FICO and Experian®, announced that they have agreed to extend their long-standing partnership to provide FICO® Scores to the North American banking community. Additionally, Experian has agreed to expand FICO’s access to its consumer data for the purposes of developing and marketing new analytics that will meet the changing requirements of businesses in this era of intense competition and heightened regulatory requirements.
As part of the new long-term agreement, FICO will be able to license its analytics directly to lenders. Experian will support these FICO direct licenses by agreeing to deliver the FICO score, derived from Experian’s industry-leading data, to mutual clients. FICO’s expanded access to Experian’s consumer credit data will enable the creation of models for additional predictive power. Furthermore, Experian will make FICO Scores available to consumers through myFICO.com and through third parties.