Long-term agreement gives lenders flexibility in making the best risk management decisions for their businesses
FICO and TransUnion today announced a renewed multi-year agreement to provide FICO® Scores to the U.S. banking community. TransUnion will continue reselling FICO Scores and provide FICO access to its consumer data for the purposes of developing and marketing new analytics that will meet the changing requirements of businesses.
As part of the new agreement, FICO will be able to sell FICO® Scores based on TransUnion credit data to lenders and third-party resellers. Consumers will continue to have access to their FICO Score based on TransUnion credit data at www.myfico.com. FICO Scores based on TransUnion credit data will also be available to consumers through third parties.
“Responsible lending growth requires strong management tools,” said Jim Wehmann, executive vice president for Scores at FICO. “The FICO Score is a market leader in consumer credit risk assessment. Our enduring relationship with TransUnion ensures that we can continue to provide lenders and consumers with powerful tools for understanding credit risk.”
Source: FICO Press Release