FICO provides data analytics and decision management tools that help financial institutions assess credit risk and detect fraud. The company’s primary product, the FICO score, works by transforming consumer credit report data into a numerical value that predicts the likelihood of a borrower repaying a loan. Unlike many competitors, FICO’s scoring system serves as the primary industry standard for consumer lending in the United States, integrated directly into software that manages the entire customer lifecycle. The company’s goal is to provide lenders with the predictive tools necessary to make informed, data-driven decisions regarding account origination, marketing, and risk management.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
San Jose, California
Founded
1956
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