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At FICO® World 2022, FICO announced significant enhancements to its FICO® Platform, aimed at transforming data management and analytics across industries. These capabilities leverage machine learning and AI for actionable insights and improved customer engagement. With over 40% annual recurring revenue growth for 10 consecutive quarters, FICO showcases its industry expertise by adding 23 new data connections and advanced model execution capabilities. These enhancements reinforce FICO's position in financial services and other sectors, facilitating better decision-making and customer lifecycle management.

FICO (NYSE: FICO) announced that Traxión has won the 2022 FICO® Decisions Award as an ESG Champion. Utilizing FICO route optimization technology, Traxión reduced deadhead trips by 2.9 million kilometers, saving USD$725,000 and cutting emissions by 458 metric tons. Once fully optimized, the company expects to decrease empty trips by 20%, saving USD$2.5 million and reducing emissions by 1,580 metric tons. Traxión's implementation of the FICO® Platform has greatly improved efficiency, achieving an 80% increase in analytic speed.

Recent research highlights the dissatisfaction of over 62% of SMEs in the APAC region with traditional banks, particularly regarding credit access and lack of support during the COVID-19 pandemic. Notably, 67% of Indonesian SMEs plan to explore alternative borrowing products in 2022. The study, conducted by RFI Global for FICO, underscores banks' need to improve transparency and customer experience to retain business. Key decision factors for SMEs include competitive interest rates and a streamlined application process. Without change, banks risk losing ground to alternative lenders.

FICO's latest report reveals significant changes in consumer financial behaviors since 2020. The survey indicates that 56% of U.S. banks and 69% of credit unions are undergoing digital transformation. Notably, the share of younger consumers using digital banks has risen to 12%. The report emphasizes the need for banks to adapt to new customer expectations in five areas: overdraft, saving and investing, buy now, pay later, niche neobanks, and open banking. Traditional banks are encouraged to rethink their services to foster long-term loyalty.

FICO (NYSE: FICO) will host the FICO® World conference in Orlando, Florida from May 10-13, 2022, gathering over 1000 executives from financial services. Keynote speaker Michael Lewis will discuss data and analytics innovations. Industry leaders from firms like Wells Fargo and Visa will present insights on operationalizing analytics and personalized customer experiences. Sessions will cover topics like AI, customer lifecycle, and fraud protection. Notable sponsors include AWS and FIS.

FICO (NYSE:FICO) reported second quarter fiscal 2022 revenue of $357 million, up from $331 million year-over-year. Net income reached $104.4 million ($3.95 per share), compared to $68.7 million ($2.33 per share) last year. Non-GAAP net income was $123.7 million ($4.68 per share), up from $90.2 million ($3.06 per share). Software ARR increased by 11%, driven by strong platform growth. Updated fiscal 2022 guidance anticipates revenues of $1.355 billion and GAAP net income of $350 million.

FICO's February 2022 analysis of UK credit card trends shows a 5.38% increase in average spend to £705, and a 1.11% rise in average balance to £1,527. Although the percentage of payments to balance dropped by 6.67%, indicating potential financial stress, fewer accounts missed payments compared to January. The report suggests consumers may be relying more on credit amidst rising costs, with vigilance in future repayment trends crucial for lenders. These insights come from FICO's Benchmark Reporting Service, utilized by 80% of UK card issuers.

FICO (NYSE: FICO), a leader in predictive analytics and decision management software, will release its second quarter fiscal 2022 results on April 27, 2022, after market close. A conference call will follow at 5:00 p.m. ET, accessible via FICO's website. The company, established in 1956 and based in Silicon Valley, holds over 165 patents in predictive analytics, catering to various industries including finance and healthcare.

FICO is hosting a free virtual event titled "Score A Better Future" on April 28, 2022, aimed at enhancing financial literacy. Special guest Marsha Barnes from The Finance Bar will join FICO's Julie Wooding to share insights on understanding credit management. Attendees will receive a free credit report and access to one-on-one credit coaching. This initiative, in partnership with Operation HOPE and other nonprofits, underscores FICO's commitment to empowering consumers nationwide with essential credit knowledge and tools for better financial health.