Fair Isaac offers new credit scoring service
Fair Isaac Corporation, the company that developed the FICO credit score, has introduced a new service to help lenders measure borrow risks. The new service is called the FICO Score Trends Service, and will now offer specific scores that measure risk specifically for credit card loans, mortgage loans and auto loans. The new service will also allow credit lenders to compare loan performance data to other lenders in the same region.
"Credit Markets" increased unpredictability and volatility in recent years and has elevated portfolio risk for lenders in multiple industries,” Robert Duque-Ribeiro, vice president and general manager of FICO scores said. “With this latest version of FICO Score Trends Service, Fico is addressing our clients’ requirements for greater insight and transparency by clearly showing how score-to-odds relationships have evolved across regions.”
