FICO

AUGUST 28, 2017

When it comes to using alternative data in credit risk assessments, the field has really opened up over the last few years. Here is useful information on how to assess alternative data and combine it with so-called traditional data to improve credit risk models. Multiple Types of Alternative Data. How Much Value?

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FICO

APRIL 28, 2023

Home Blog FICO What Does 2023 Have in Store for U.S. Credit Risk and FICO Score Trends? credit risk and FICO® Score trends. At the same time, increasing adoption of recent innovations in credit scoring solutions should benefit consumers, leading to greater consumer empowerment opportunities and credit access.

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FICO

JANUARY 21, 2020

The same consumers are scored 12 months later, again with the same Account Origination score, to see how their risk profile had changed. Source: FICO Blog In 12 months, the average score for this group of consumers dropped by 9 points overall and by 11 points for the Thin File [1] population. Source: FICO Blog.

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FICO

AUGUST 16, 2019

It’s difficult to define the problem and many banking professionals debate the merits of who “owns” the first-party fraud problem — the credit risk group or the fraud group. The Relationship Between Credit Risk and First-Party Fraud. Credit Risk and Fraud Across the Customer Lifecycle.

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FICO

OCTOBER 24, 2022

Different than traditional credit bureau data, the use of trended data considers a historical view of data such as account balances for the previous 24+ months, giving lenders more insight into how individuals are managing their credit. . chevron_left Blog Home. FICO Score 10 Suite Available from All Three Credit Bureaus.

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FICO

SEPTEMBER 6, 2017

If AI is good enough to power self-driving cars, isn't it good enough to make credit risk decisions? In this podcast for Lend Academy, FICO Blog author Dr. Scott Zoldi talks about his role as FICO's Chief Analytics Officer, the company's AI innovations and how they are being applied in credit risk, fraud management and more.

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FICO

MAY 24, 2017

A year ago I blogged about the data governance ramifications of GDPR, and in this blog I’ll focus on another facet of GDPR to talk about a related analytics topic: explainable artificial intelligence (AI). As I discussed in a recent post, AI is a very useful tool for enhancing credit risk scorecards. is straightforward.

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FICO

AUGUST 8, 2022

One of my favorite things to think about is my annual data science and artificial intelligence (AI) predictions blog. One of my favorite things to think about is my annual data science and artificial intelligence (AI) predictions blog. In these blogs, I review the industry trends and developments in technology set to impact businesses.

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PYMNTS

DECEMBER 9, 2020

The cybersecurity firm FireEye — which counts numerous government agencies among its clients — said in a blog post that its proprietary tools were hacked by a suspected nation-state. NEW REPORT: The Banks’ How To Guide To Using AI To Manage Credit Risk. Plus, Robinhood is in talks to go public.

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FICO

JUNE 22, 2018

As you move forward with your AI journey, we’ve curated a list of blogs that uncover the importance of and trends leading to xAI. This blog post uncovers the requirement of making AI explainable. This blog lists ways to explain AI when used in a risk or regulatory context based on FICO’s experience.

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FICO

AUGUST 28, 2020

The FICO® Score has been a stable and highly effective tool for rank ordering credit risk through prior fluctuations in economic conditions, and we expect the FICO® Score to continue to provide strong risk rank ordering through the current COVID-19 pandemic. Make sure to check back here at fico.com/blogs to stay up to date!

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FICO

OCTOBER 5, 2017

Now that EFL has partnered with FICO to sell our alternative credit scores, we get a lot of questions from FICO’s clients. In this and the next few blog posts, I am going to address the most common ones. How Is EFL Different from Other Alternative Credit Scores ? What character traits are predictive of credit risk?

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FICO

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 1 (2022). This four-part series looks at embedding portfolio risk resilience into decisions across the credit lifecycle through targeted application of the FICO ® Resilience Index. risk that only manifests during periods of economic stress) more precisely.

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FICO

MAY 11, 2021

Credit risk industry veterans who managed consumer loan portfolios through the Great Recession can recall the challenge of responding to swiftly changing borrower payment behavior and the resulting delinquency and default rate volatility during that time. risk that only manifests during periods of economic stress).

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FICO

JANUARY 4, 2018

What were some of the most interesting risk analytics topics last year? Judging from the views on the FICO Blog, risk professionals are keenly interested in new ways to approach risk analytics. A New Way to Score Credit Risk – Psychometric Assessments. Using Alternative Data in Credit Risk Modelling.

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FICO

MAY 11, 2021

Credit risk industry veterans who managed consumer loan portfolios through the Great Recession can recall the challenge of responding to swiftly changing borrower payment behavior and the resulting delinquency and default rate volatility during that time. risk that only manifests during periods of economic stress).

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FICO

JANUARY 4, 2018

As artificial intelligence applications exploded last year, our blog posts on AI and machine learning drew thousands of readers. Indeed, taken together, they explored many aspects of Explainable AI and its applications, particularly in the area of credit risk. Combining Machine Learning with Credit Risk Scorecards.

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FICO

OCTOBER 17, 2022

How data sharing can improve credit risk decisioning. The launch of the Open Finance Framework by Bangko Sentral ng Pilipinas (BSP) in 2021 was a big step forward in driving financial inclusion for millions of Filipinos across the market who still do not have access to credit. FICO Admin. Wed, 10/03/2018 - 23:42.

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FICO

JANUARY 25, 2018

In a previous blog , I defined what is meant by a security or cybersecurity posture. Here are just three examples of where it is necessary to understand the cybersecurity posture of your business partners: Vendor risk management – understanding your suppliers’ (and their suppliers’) cyber risk. Credit risk.

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FICO

JANUARY 6, 2021

Posts dealing with debt collection were among the most popular on the FICO Blog last year, for obvious reasons. Collections Analytics: Are We Missing The Credit Risk Revolution? Innovations in credit risk analytics that have been widely adopted in other risk areas rarely get used at the C&R level.”.

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FICO

JANUARY 7, 2020

The average FICO® Score ticked up to 706 in 2019, and the blog post where we covered the news continues to be one of the most popular posts on the FICO blog. We also looked at trends in credit scores and addressed whether FICO® Scores are artificially inflated. The blog examines the key drivers pushing U.S. Average U.S.

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FICO

JUNE 2, 2023

Home Blog Feed test Icing on the Cake: How the FICO Score and alternative data work best together Significant attention has been paid recently to the potential for use of alternative data to enhance the predictiveness and inclusiveness in credit scoring. More than 200 million U.S.

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PYMNTS

MAY 4, 2018

The blog posted excerpts from an email reportedly sent by Amazon Business to U.S. In its email, Amazon Business assured that companies will receive payment no longer than seven days past-due, while the eCommerce conglomerate also assured sellers that it will handle credit risk assessment, billing and collection.

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FICO

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 3 (2022). Building portfolio risk resilience into customer management. Lenders must adopt a similar mindset as they manage the financial health of their consumer lending portfolios to insulate their existing assets from potential portfolio risk volatility. Saxon Shirley.

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FICO

APRIL 12, 2023

And while some of our clients’ business lines benefit from the very latest innovations, others such as mortgage continue to find that older versions of the FICO® Score – even some that were first developed decades ago – meet their needs for credit risk assessment. That’s because FICO® Scores are built to last. Ethan has a B.S.

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FICO

JANUARY 22, 2018

This two-part blog unpacks the mysteries of two very different AI techniques: supervised and unsupervised learning. The models are then deployed to live a happy life scoring credit risk and fraud likelihood, finding pictures of Chihuahuas and muffins , or flagging insulting tweets. Supervised Learning: The Workhorse of AI.

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FICO

FEBRUARY 13, 2020

2019 was a year full of innovative methods to fight fraud, and we covered these on the FICO Blog. Check out the top 5 fraud blog posts which garnered the most views in 2019. The fight against fraud is constantly evolving because of the new approaches taken by fraudsters. 5 Reasons Why AML is More Important Than Ever in 2019.

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FICO

JULY 30, 2019

Credit risk? Also, is there a clear and agreed fraud risk appetite that has exec sponsorship and is agreed by all stakeholders? Follow my posts on this blog for more information on telecom fraud prevention. Mel has held credit risk management positions at EE, Orange and Bank of America. Is it the fraud team?

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FICO

JANUARY 11, 2017

This confusion and inconsistency may be causing additional collection records on credit bureau reports. As a data scientist from FICO’s Scores organization, I feel it’s important to remind our blog readers that collection information on a credit bureau report has consistently been found to be a strong indicator of increased credit risk.

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FICO

MAY 19, 2023

In total, Prosper extended more than USD $225M in credit access to these consumers. Prosper also proactively mitigates credit risk and meets the increasing credit demand for creditworthy customers based on their monthly updated FICO® Scores. You can read more about this story in the full media release.

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FICO

SEPTEMBER 28, 2018

The panel primarily focused on the opportunities and challenges associated with the use of Machine Learning (ML) in credit underwriting. We will dive into this further in future blogs so keep an eye out.). I called out some highlights from FICO’s recent white paper on this subject. (We

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FICO

JANUARY 7, 2019

The tremendous interest in AI and machine learning drove the readership on the Fraud & Security blog in 2018. caption id="attachment_36090" align="alignnone" width="600"] Source: FICO Blog[/caption]. Follow this blog for our 2019 insights into fraud, financial crime, cybersecurity and AI and machine learning.

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FICO

MAY 4, 2018

In my last blog post, CECL for Auto Finance – Where Do I Start? If you haven’t retained or purchased historical FICO or behavior scores, now is the time to invest in back-populating so you have a stable, consistent credit risk measurement that you can include in your models and apply to your portfolio going forward.

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FICO

FEBRUARY 28, 2017

In my last blog post , I shared a new FICO research study on credit trends in auto lending. This shift may signal an increase in credit risk for the industry because six-year loans have historically had higher delinquency rates. So how are consumers affording these larger loans?

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FICO

DECEMBER 11, 2017

We’ve long dealt with this challenge in fraud and credit risk decisioning, but in using ML across multiple industries, there are entire sets of proposed explanatory algorithms which are either right, ineffective or flat wrong. AI Will Augment Us.

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FICO

MAY 2, 2023

See all Posts chevron_left Blog Home expand_less Back To Top Related posts FCA’s Consumer Duty Mandates Sharper Use of Technology How Omnichannel Communications Improve Debt Collection How Organizations with Decisioning Platforms Win

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FICO

JUNE 11, 2021

Lenders must adopt a similar mindset as they manage the health of their consumer lending portfolios to insulate their existing book of business from potential risk volatility. As we discussed in part 1 of this blog series, FICO® Resilience Index (FRI) was designed with precisely this capability in mind. FRED, 24 May 2021, [link]. .

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