Industry News

New FICO score goes global

Lenders can assess risk of consumers in underserved countries

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Fair Isaac Corp. today announced the worldwide launch of the Global FICO score, which aims to help lenders better serve consumers in countries where credit bureau scores are not available. Global FICO score rank-orders consumers according to their credit risk and is consistently scaled across credit bureaus and across national borders. Lenders in countries where FICO scores are not yet available can use Global FICO score to leverage available bureau data in automated, accurate credit decisions. Multinational companies can use Global FICO score as a common risk measure across diverse markets, without regard for the credit bureau or country where the scores are calculated. "Lenders of all kinds will find that the Global FICO score opens the door to new opportunities for quick expansion while still controlling and monitoring their risk," said Ron Totaro, vice president of Global Scoring Solutions for Fair Isaac. "Businesses can use Global FICO score to improve decisions throughout the...