Equifax and FICO have entered into a mutual
agreement to develop new analytics solutions for the UK market.
The analytics will initially focus on
assessing consumers’ ability to handle credit and will analyse
individual circumstances and subsequent changes in a consumer’s
risk profile under different macroeconomic conditions.
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Shawn Holtzclaw, managing director, Equifax
UK, said:
“A core goal of the Equifax/FICO
alliance is to enable lenders to build greater understanding of
risk into their customer acquisition, retention and management
strategies. Since we announced our new partnership with FICO,
scores have been at the top of the agenda for our teams and our
clients. The new scores will be a breakthrough for the UK,
facilitating responsible lending and helping lenders to sustain
profitable growth.”
The new suite of analytics will be an addition
to Equifax’s RN4 suite of risk scores and FICO, meanwhile, will
further develop its own suits (FICO Credit Capacity Index and FICO
Economic Impact Index).
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