![]() FICO also helps millions of individuals manage their credit health through the website.įICO Statement Concerning Forward-Looking InformationĮxcept for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Clients in 80 countries work with FICO to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. FICO’s Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Our common stock is traded on the New York Stock Exchange under the symbol EFX.įICO (NYSE:FIC) transforms business by making every decision count. Equifax is a member of Standard & Poor’s (S&P) 500 ® Index. and 14 other countries throughout North America, Latin America and Europe. Headquartered in Atlanta, Georgia, Equifax Inc. We empower individual consumers to manage their personal credit information, protect their identity and maximize their financial well-being. Businesses -large and small - rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, HR/payroll services, and much more. A global leader in information solutions, employment and income verification and human resources business process outsourcing services, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.Ĭustomers have trusted Equifax for over 100 years to deliver innovative solutions with the highest integrity and reliability. This information is not intended to be legal advice lenders are encouraged to check with their own legal counsel to determine how best to meet regulatory compliance requirements.Ībout Equifax ( Equifax empowers businesses and consumers with information they can trust. By incorporating innovative technology into the BEACON 09 formula, the new score continues to help lenders meet this legal requirement. ![]() Under the Equal Credit Opportunity Act (ECOA), when lenders assess a spouse’s credit risk they are required by law to consider the credit history of accounts which both spouses are permitted to use. Since its introduction in 1989, the BEACON score has helped lenders comply with an important federal regulation by automatically including authorized user accounts in the score’s assessment of risk. New patent-pending technology also protects the BEACON 09 score from the potential abuse of authorized user credit accounts, by reducing any potential impact to the score from tampering. Equifax clients can use the greater predictive power in BEACON 09 to manage their risk more precisely, improve their customer satisfaction, and increase their bottom line.” “BEACON 09 delivers even more value to its users while minimizing the effort needed to upgrade. “BEACON 09 is the Equifax name for our FICO 08 score, which represents our best analytic work to date on our FICO credit risk model,” said Robert Duque-Ribeiro, vice president and general manager of Scoring for FICO. “The BEACON 09 Score is an innovative solution that will provide greater predictive strength at a time when the industry needs it most,” said Dann Adams, president of US Consumer Information Solutions for Equifax. Lenders also should increase their ability to reduce losses within current portfolios and to acquire more profitable prospects. ![]() Using the BEACON 09 Score, lenders should see improvements in risk assessment over current BEACON ® scores, particularly among applicants opening new accounts, consumers with prior derogatory information, and people who are comparatively new to credit. This newest version of the FICO ® credit risk score is expected to provide the greatest performance upgrade of the score’s twenty-year history, without changing features that are important to lenders such as the scoring model’s minimum scoring criteria, reason codes, and 300-850 ® score range. MINNEAPOLIS and ATLANTA-June 9, 2009-FICO (NYSE:FIC), the leading provider of analytics and decision management technology, and Equifax (NYSE: EFX), a global leader in information solutions, today introduced the BEACON ® 09 Score for lenders and other businesses.
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