Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and
decision management technology, today introduced a comprehensive new
suite of predictive scores at its 2007 Collections and Recovery User
Group meeting in Las Vegas. Available immediately, Fair Isaac Collection
Scores equip financial services providers in North America and the
United Kingdom with a quick and effective way to reliably improve
collection decisions and operational efficiency.
With consumer debt on the rise, credit grantors face a steady increase
in delinquencies and charge-offs for both credit cards and loans. Fair
Isaac Collection Scores are designed to fine-tune lenders’
ability to prioritize accounts in early stage collections for both card
and loan portfolios, and late stages for card portfolios. Using
early-stage collection scores, credit grantors can segment a portfolio
based on accounts’ risk of rolling to later
delinquency stages. Late stage collection scores allow lenders to rank
accounts based on expected collection amounts.
By prioritizing accounts, the Collection Scores enable credit grantors
to assign the appropriate strategy with the right amount of collection
effort, resulting in increased total collections, lower charge-offs and
better utilization of resources that directly impact the lenders’
bottom line. The Collection Scores also enable lenders to improve
customer service by identifying likely ‘self-cures’
and preventing potentially upsetting collector calls to a client’s
best customers.
“Fair Isaac Collection Scores build upon Fair
Isaac’s extensive experience in developing
innovative analytic technologies for the collections and recovery
industry,” said Sally Taylor-Shoff, vice
president of product management, Analytic Products at Fair Isaac. “The
scores are an ideal first step for lenders looking to leverage analytics
in collection decisions, without the burden of gathering historical data
and waiting for the development period of custom models. Used on their
own, or combined with Fair Isaac’s end-to-end
collections solution, they also can deliver immediate value to lenders
while they plan and collect data for future custom model developments.”
Fair Isaac Collection Scores allow credit grantors to leverage analytics
quickly within their organization to manage their collection efforts
more effectively and boost profits. As an integral part of Fair Isaac’s
end-to-end collections and recovery solution —
including Debt Manager™ solution for workflow
management and PlacementsPlus® service for
agency placement — Collection Scores can be
easily implemented into lenders’ existing
collection systems, minimizing their IT investment required to get up
and running. Fair Isaac also offers consulting services to help clients
make the most of their scores given specific business objectives,
measure and track score and strategy performance, and understand how to
adapt their strategies in a dynamic lending environment.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) combines trusted advice, world-class
analytics and innovative applications to help businesses make smarter
decisions. Fair Isaac’s solutions and
technologies for Enterprise Decision Management turn strategy into
action and elevate business performance by giving organizations the
power to automate more decisions, improve the quality of their
decisions, and connect decisions across their business. Clients in 80
countries work with Fair Isaac to increase customer loyalty and
profitability, cut fraud losses, manage credit risk, meet regulatory and
competitive demands, and rapidly build market share. Fair Isaac also
helps millions of individuals manage their credit health through the www.myFICO.com
website. Learn more about Fair Isaac at www.fairisaac.com.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements
contained in this press release that relate to Fair Isaac, including
statements regarding its new Fair Isaac Collection Scores product
offering and its Debt Manager and PlacementsPlus product offerings, and
the benefits to be derived from these offerings, are forward-looking
statements within the meaning of the “safe
harbor” provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including any unforeseen technical difficulties
related to the implementation, use and functionality of the offerings,
the risks that customers will not perceive material benefits from the
offerings, failure of the products to deliver the expected result, the
possibility of errors or defects in the offerings, regulatory changes
applicable to the use of consumer credit and other data, and other risks
described from time to time in Fair Isaac’s
SEC reports, including its Annual Report on Form 10-K for the year ended
September 30, 2006, and quarterly report on Form 10-Q for the period
ended June 30, 2007. Forward-looking statements should be considered
with caution. If any of these risks or uncertainties materializes or any
of these assumptions proves incorrect, Fair Isaac’s
results could differ materially from Fair Isaac’s
expectations in these statements. Fair Isaac disclaims any intent or
obligation to update these forward-looking statements.
Fair Isaac, Debt Manager and PlacementsPlus are trademarks or registered
trademarks of Fair Isaac Corporation, in the United States and/or in
other countries. Other product and company names herein may be the
trademarks of their respective owners.