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This CRM Review examines FICO® Decision Management Platform.
In-Depth CRM Review
FICO® Decision Management Platform
Fair Isaac Corporation
181 Metro Drive
San Jose, CA 95110-1346
Telephone: (408) 535-1500
Fax: (408) 535-1776
CRM Category: Field Sales Support – Cloud
Sub-Category: Business Intelligence
Seats: Small Enterprise
About the Company:
FICO (NYSE:FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company’s groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed.
FICO’s innovative solutions include the FICO® Score — the standard measure of consumer credit risk in the United States — along with industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world’s top banks, as well as leading insurers, retailers, pharmaceutical businesses and government agencies rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through www.myFICO.com.
Founded in 1956, FICO introduced analytic solutions such as credit scoring that have made credit more widely available, not just in the United States but around the world. We have pioneered the development and application of critical technologies behind decision management. These include predictive analytics, business rules management and optimization. We use these technologies to help businesses improve the precision, consistency and agility of their complex, high–volume decisions.
FICO clients include:
- Nine of the top 10 companies in the Fortune 500
- Two-thirds of the top 100 banks in the world
- 90 of the 100 largest financial institutions in the U.S., and all the 100 largest U.S. credit card issuers
- More than 400 personal and commercial lines insurers in North America and Europe, including the top 10 US personal lines insurers
- 100+ retailers and general merchandisers, including one-third of the top 50 U.S. retailers
- 150+ healthcare and life sciences companies, including 7 of the world’s top 10 pharmaceuticals companies
- FICO® scores are the most used credit bureau scores in the world, with more than 100 billion scores sold to date. They are available through all of the major consumer reporting agencies in the United States (Equifax, Experian and TransUnion) as well as in countries worldwide.
- About 65% of the world’s credit cards are managed using FICO adaptive control systems
- FICO fraud systems protect more than 2 billion card accounts worldwide.
- The top 10 US banks use FICO collections & recovery solutions.
- FICO® scores are used in three out of four US mortgage originations.
- Our myFICO® service has helped millions of people take control of their credit health, and is ranked as the “Best Place to Get Your Credit Score” by Kiplinger’s.
- FICO has been granted more than 100 patents for analytic and decision management technology.
- FICO was ranked #1 in services operations analytic applications by IDC in 2010, and #7 overall in worldwide business analytics software.
- FICO was ranked #26 in the FinTech 100 by American Banker.
FICO analytic innovations include:
- The first commercially available credit scoring systems
- The first automated origination systems with analytics
- The first insurance underwriting scoring systems
- The first adaptive control systems for managing card accounts
- The first cross-bureau credit scores
- The first small business scoring systems
- The first neural network-based fraud solutions
- The first predictive systems for insurance fraud
- The first analytic systems for retailers to optimize offers and timing
About the Product:
Our products and services include:
- Scores and related analytics, which deliver powerful predictions of consumer behavior to help businesses make faster, more profitable decisions. Among our analytic products is the FICO® Score, which drives billions of credit and marketing decisions a year, and is recognized as the standard measure of US consumer credit risk.
- Applications for decision management, which automate, improve and connect decisions based on our proprietary analytic models and user-defined strategies. Each of these solutions is built with the analytics, data, decision strategies and process flow for a particular vertical industry and decision area, such as fraud control or credit account management.
- Tools for decision management, which give businesses the ability to create their own decision management applications and models. Our tools include business rules management, model development and decision optimization.
- Professional services. We use our deep decision area experience and technical expertise to help individual clients solve unique business challenges, and get more value from our tools and solutions.
FICO works with more than 5,000 businesses worldwide, and our technology serves thousands more through our partnerships. We serve global markets through offices in 12 countries.
For insight into our many products and services, please read our product and services catalog.
For background on analytics, see our booklet Understanding Predictive Analytics.
For complete pricing details, please contact the company directly.
For a proper demo of this CRM solution:
For a proper demo of this CRM solution, please contact the company directly.
Rich’s View of FICO® Decision Management Platform:
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