Not only is the business in operation within the United States, as it has helped businesses in more than 80 countries be successful in the industries they serve. Through their analytical tools, they are able to help companies make better decisions that would result to higher customer satisfaction, growth and profitability. FICO has been credited for revolutionizing entire industries with their Big Data and mathematical algorithms that are capable of predicting consumer behaviors.
The tools that FICO provides help businesses fortify their customer relationships, manage risk, optimize their operations, combat fraud and get aligned with various government regulations and laws. In addition to the software and business analytics they provide, the company is also best known for their FICO score, a fixture of consumer lending in the country and measures consumer credit risk. More than 30 million Americans access their scores themselves. Through this service, consumers are given the accountability to manage the health condition of their personal credit score.
The solutions offered by FICO are categorized into various segments, which include customer originations solutions, fraud management solutions, customer growth and retention solutions, tools for decision management, debt management solutions, scores and consumer programs. These solutions are used by various companies around the world to improve operations, consumer following and profitability. The business serves nine of the top 10 Fortune 500 companies and more than half of the world’s top tier banks.
The company’s FICO scores remain to be the most used credit bureau scores in the world. To date, there are more than 100 billion in credit reports sold to lenders and various institutions. FICO remains to be publicly traded on the New York Stock Exchange.