FICO

Fair Isaac Corporation logo

FICO (originally Fair, Isaac and Company) is a data analytics company focused on credit scoring services. The company was founded in 1956 by engineer William R. Fair and mathematician Earl J. Isaac. FICO is best known for its FICO score, a measure of consumer credit risk that has become a fixture of consumer lending in the United States.

History

FICO was founded in 1956 by William R. Fair and Earl J. Isaac. The company initially focused on providing credit scoring services to businesses. Over the years, FICO expanded its services to include a wide range of data analytics and decision management solutions.

FICO Score

The FICO score is a type of credit score created by FICO. It is used by lenders to assess the credit risk of potential borrowers. The score ranges from 300 to 850, with higher scores indicating lower credit risk. The FICO score is calculated based on five main factors:

• Payment history
• Amounts owed
• Length of credit history
• New credit
• Credit mix

Applications

FICO scores are used by a variety of financial institutions, including banks, credit card companies, and mortgage lenders. The scores help these institutions make decisions about lending and the terms of credit they offer to consumers.

Products and Services

In addition to the FICO score, the company offers a range of products and services, including:

• Fraud detection and prevention
• Regulatory compliance
• Customer management
• Predictive analytics

Global Presence

FICO operates globally, providing its services to businesses in various countries. The company has offices in multiple locations, including North America, Europe, Asia, and Latin America.

See Also

• Credit score
• Credit bureau
• Credit report
• Credit history
• Credit risk

Related Pages

• Credit score
• Credit bureau
• Credit report
• Credit history
• Credit risk