Fair Isaac Corp Stock Price, News & Analysis

FICO (NYSE: FICO) reports that 70% of Thailand's retail banking consumers faced income drops due to the pandemic, prompting significant shifts in banking preferences. A survey reveals that 73% will prioritize savings while 66% will focus on investments. Notably, over 20% of affluent Thai customers are likely to switch banks for better offers, doubling from last year. Despite a challenging environment, many continue to maintain or increase investments, with 47% deferring loan repayments. The rise in digital banking adoption is also significant, as 72% opt for fintech solutions over traditional banking services.

Recent research by Mercator Advisory Group highlights that 97% of asset-backed securitizations (ABS) utilize FICO® Scores as a key metric for evaluating credit quality across various collateral classes, including auto finance, credit cards, and student loans. The study reveals that over $41.9 billion in receivables were introduced to the market in 1Q2022, emphasizing the score's importance amid rising interest rates and economic uncertainty. The organization also released a white paper discussing the continued relevance of FICO Scores amidst emerging AI scoring models.

The May 2022 report by FICO highlights UK credit card trends amidst rising cost-of-living pressures. Key findings indicate a 6.1% increase in the percentage of payments to balance, reaching 42.06%. Average spending decreased by £7 to £753, while the average balance rose 0.2% to £1,555. Notably, accounts missing one payment increased by 7.4%, highlighting potential financial distress among cardholders. Overall, consumers appear to prioritize credit card repayments despite economic challenges.

FICO's April 2022 report on UK credit card trends reveals early signs of cost-of-living pressure. Average monthly spend reached £760, a 10% increase from March, while average balances rose to £1,554. Notably, there's a 22% year-on-year rise in spending. However, missed payments have seen a slight increase, indicating inflation is impacting some cardholders. The report suggests continued financial prudence among consumers as repayments to balances remain stable.

On June 8, 2022, FICO will host a panel discussion at the National Association of Women Business Owners (NAWBO) Advocacy Days in Washington, DC. The event, part of FICO's 'Score A Better Future' program, aims to educate female entrepreneurs on the significance of credit for business growth. Congresswoman Claudia Tenney will deliver introductory remarks, leading a discussion featuring industry experts. This initiative highlights the importance of financial literacy for women in business, enabling them to better manage their credit and achieve their goals.

FICO recently announced its FICO Score suite's ability to score approximately 232 million U.S. consumers, representing 90% of the credit-eligible population. The suite addresses the needs of around 28 million consumers with minimal credit data and 25 million who are credit invisible. By integrating alternative data sources, FICO can provide scores to over 27 million additional consumers. This approach not only improves credit access but also focuses on segments typically underserved by traditional credit scoring methods, enhancing lender confidence in consumer assessments.

FICO (NYSE: FICO) announced that Brazilian payment network provider Elo has achieved a 30% reduction in fraud for its card issuers using the FICO® Falcon® Fraud Manager. Elo has successfully declined online fraudulent transactions, protecting over 30 issuers across Brazil's financial landscape. The company received the 2022 FICO® Decisions Award for its advancements in fraud management, demonstrating significant improvements in security amidst changing customer behavior during the pandemic.