Latest news with #FICO®Score
Business Wire
6 days ago
- Business
- Business Wire
FICO and First Tee – Ontario to Host Free Youth Financial Empowerment Event Ahead of the RBC Canadian Open
TORONTO--(BUSINESS WIRE)--Global analytics software leader, FICO and First Tee's Ontario chapter will host a free Score A Better Future™ Fundamentals financial literacy event for teens from the Boys & Girls Club of Caledon and Brampton on Tuesday, June 3, 2025. The event will be held at Mono Hills Golf Club and is designed to help teens aged 14–17 better prepare for healthy financial futures, including understanding how credit works and the role of the FICO® Score when it comes to saving for a home, car, or an education. FICO and First Tee's Ontario chapter will host a free Score A Better Future™ Fundamentals financial literacy event for teens from the Boys & Girls Club of Caledon and Brampton on Tuesday, June 3, 2025. Share The event takes place within the week of the 2025 RBC Canadian Open. Following the workshop, students will participate in First Tee golf programming and take a group photo with the RBC Canadian Open Trophy. 'Financial literacy and a good golf game both require the same foundations: practice and discipline,' said Amber Aquin, Chapter Head of First Tee – Ontario. 'This collaboration with FICO during the RBC Canadian Open gives youth the opportunity to build both golf skills and the money smarts to excel on and off life's most important courses.' FICO's Score A Better Future Fundamentals program is designed to educate teens on how financial decisions made early in life, particularly around credit, can shape their futures. The program equips students with practical knowledge to better understand personal finance and credit, while building habits that support long-term financial health. 'At FICO, we're passionate about helping educate young people to take control of their financial futures,' said Jenelle Dito, vice president of Consumer Empowerment Programs and Partnerships at FICO. 'Working with First Tee – Ontario and the Boys & Girls Club of Caledon and Brampton allows us to bring these important lessons to life in a fun, engaging way, just as the RBC Canadian Open begins.' To learn more about the event or get more information on FICO's Score A Better Future™ Fundamentals program, visit: To learn more about Boys & Girls Clubs of Caledon and Brampton, visit: To learn more about First Tee – Ontario's introductory golf programming across the province, visit: Score A Better Future ™ Fundamentals Helps to Bridge the Financial Literacy Gap Used by 90% of the top U.S. lenders, FICO® Scores help millions of people gain access to the credit they need to do things like get an education and make major purchases. Fundamentals helps empower students with financial literacy and the knowledge to achieve their financial goals. Educators at all accredited middle and high schools can receive the Fundamentals curriculum and supporting materials through the Fundamentals website, which will also provide the background knowledge and understanding for teachers to successfully educate students while strengthening their own understanding of credit. To learn more about Fundamentals visit About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at Join the conversation at & .
Yahoo
22-05-2025
- Automotive
- Yahoo
Octane Earns a 2025 FICO Decision Award; Responsibly Expands Credit Access with FICO Auto Score 10
Fintech company uses FICO® Auto Score 10 to help grow originations by 36% and responsibly expand credit access in the recreational market, including Powersports, RV, and Outdoor Power Equipment Highlights: In 2024, Octane grew originations by 36% year-over-year and closed four AAA-rated asset-backed securitizations, surpassing $4B in asset-backed securitization to date*. By leveraging FICO® Auto Score 10 alongside its own proprietary credit model to support its risk program, Octane helped its 4000 dealer partners instantly prequalify their customers. Octane has won a 2025 FICO® Decision Award for Customer Onboarding & Management for its technological innovation, streamlined onboarding process, and commitment to responsibly expanding credit access. BOZEMAN, Mont., May 22, 2025--(BUSINESS WIRE)--Global analytics software leader FICO today announced that Octane (Octane Lending, Inc.), the fintech revolutionizing the buying experience for major recreational purchases, earned a 2025 FICO® Decision Award for Customer Onboarding and Management. Since 2016, Octane has partnered with FICO to support its risk management and responsibly expand credit access. Octane has transformed the financing experience for recreational markets with its digital tools, credit products, and technology-powered end-to-end financing experience. Octane uses FICO® Auto Score 10, part of the most powerful and predictive FICO® Score suite to-date, and its own Octane Score, to more accurately assess the risk of an enthusiast making lifestyle purchases. By focusing on predictive analytics, Octane has expanded credit access while maintaining the highest risk management standards. "We're proud to transform the financing experience with our powerful technology and unique end-to-end product suite. By building strong risk programs, we ensure that our business remains profitable and we continue to support our partners," said Mark Molnar, Chief Risk Officer at Octane. "FICO Auto Score 10 underpins our risk management capabilities and positions us for long-term growth as we continue to serve our partners with innovative technology and best-in-class offerings." More information: Octane offers merchants a technology platform and end-to-end product suite to help them offer a seamless financing experience to customers, increasing dealer and OEM sales and profitability. In 2024, Octane increased originations by 36% year-over-year by developing unique lead generation and customer engagement technology, as well as offering innovative financing products that integrate FICO® Auto Score 10. Octane's award-winning prequalification tool, Prequal Flex®, allows its 1,200 users to embed a unique-to-them financing link or QR code into their online and in-person marketing. Prequal Flex features a soft credit pull that doesn't impact a buyer's credit score until a contact is generated, empowering more customers to take the first step in the buying process. As a result, it's easier for dealers to connect with new customers, understand a customer's buying power, and close more deals. In 2024, Octane introduced Dealer Portal 2.0, the most advanced version of its industry-leading dealer financing platform, which offers smarter, faster credit decisions, reducing the time it takes for dealers to close deals. "Octane has proven to be an innovative leader in the fintech and powersports industry," said Julie May vice president and general manager of scores at FICO. "The company has achieved remarkable success by leveraging FICO Auto Score 10 and building a seamless, end-to-end customer experience designed to empower its customers and partners alike." "Octane isn't just streamlining financing—it's making it easier for people to turn their passions into reality," said Joe McKendrick, analyst and senior contributor at Forbes, one of the FICO Decision Awards judges. "Octane's ability to balance risk management with a seamless customer experience stood out to the judges. By integrating smart credit decisioning, it's giving more consumers access to recreational purchases while helping dealers grow their businesses." As a result of its strong risk management and credit performance, Octane has developed a robust capital markets program driven in large part by its use of FICO® Scores; it has issued more than $4 billion of asset-backed securities (ABS) since its ABS program began in 2019. In 2024, Octane's program closed four asset-backed securitizations, including OCTL 2024-RVM1, the first securitization backed wholly by RV and Marine collateral in twenty years. Through this program, the company has also sold or entered into forward flow commitments of over $2 billion since its first whole-loan sale in late 2023 and has originated more than $6 billion in aggregate originations. About FICO® Auto Score 10 Developed using recent credit bureau data and designed to be backward compatible, FICO® Auto Score 10 provides greater predictive power over all previous versions of FICO® Auto Scores without sacrificing the trusted FICO® Score minimum scoring criteria and user experience. About the FICO® Decision Awards The FICO Decisions Awards recognize organisations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measurable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2025 judges are: Regan Goble, risk analytics senior manager at Westpac NZ (Previous Winner) Megha Kumar, research vice president at IDC Joe McKendrick, analyst and senior contributor at Forbes Luiz Pacete, technology and marketing industry influencer Ali Paterson, founder and editor-in-chief at Fintech Finance Mike Roberts, head of unsecured retail risk at HSBC UK bank (Previous Winner) Erin Stillwell, EVP, payment partnerships at Blankfactor Allan Tan, group editor-in-chief at Cxociety *The full analysis for S&P's ratings, including any updates, which you should review and understand, is available on and can be accessed here. About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at Join the conversation at & For FICO news and media resources, visit FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries. View source version on Contacts FICO Media Contact Julie Huangpress@ Sign in to access your portfolio
Associated Press
18-04-2025
- Business
- Associated Press
7 Myths About Credit Score Checks You Need to Stop Believing
NEW YORK, NY / ACCESS Newswire / April 18, 2025 / Figuring out credit scores isn't easy, but it's worthwhile - and there's so much that the public misunderstands about these useful indicators. Read on to debunk the seven most common myths about a credit score check, because, with the right information at hand, you can start building and maintaining the best version of your credit. Myth #1: Checking your own credit score hurts your score Checking your credit score through a credit monitoring service like MyFICO® or getting annual credit reports from the major credit bureaus, does not hurt your credit score. It's considered a 'soft inquiry,' and soft inquiries do not impact your credit score. Hard inquiries, which are initiated by lenders when you apply for a credit card, mortgage or auto loan, do impact your score. They can stay on your credit report for two years but typically it is more like one year. Myth #2: You need to carry a credit card balance to have a good score Carrying a balance on your credit cards can hurt your score, especially if you're not paying on time and in full each month. If you pay your credit card bills in a timely manner, it might actually improve your credit score. Myth #3: Closing old credit card accounts will improve your credit score Closing old credit card accounts can sometimes negatively impact your score depending on the circumstances. A closed account will be visible for up to seven years on your credit report if you close the card with a $0 balance, and up to 10 years with a positive balance. But the main way your credit will be hurt by closing a card is the impact it will have on your credit utilization ratio. Myth #4: Only lenders check your credit score. While lenders like banks, mortgage companies, and landlords most frequently use credit scores, other entities may also access your credit report. This includes: Myth #5: Rent payments don't affect your credit score While traditional rent payments may not directly impact your credit score, there are now services that report rent payments to credit bureaus, like RentReporters. This can help build credit if you have a limited credit history. All three major credit bureaus do accept rent payment information if they receive it. Not all versions of FICO® Scores use rent payments but newer versions including FICO® Score 9 and FICO® Score 10 do consider it if it is in your credit report. Myth #6: You can only check your credit score once a year for free. You can get your credit score for free on a regular basis from credit card companies, lenders and other financial institutions. Some score providers, like myFICO, offer a one-bureau free plan where you can get monthly updates for your FICO® Scores. Myth #7: Disputing errors on your credit report is a waste of time Disputing errors on your credit report can be a huge benefit to you, if you have the patience to do it. According to a study from Consumer Reports, nearly half of those who checked their credit report found at least one error. This incorrect information can significantly impact your credit score and limit your access to credit and can be corrected or contested with the appropriate credit bureau. Mastering your credit score check With facts and not fiction, you can get a handle on your credit score - because the better you know your score, the more likely you are to try and improve it. Whether you're on your own or using a credit monitoring tool like MyFICO®, with just a little knowledge and a plan, you'll be in good shape. Disclaimer: This content is sponsored by MyFICO® and is provided for informational purposes only. The information shared here is not intended to serve as financial, legal, or credit-related advice. Readers are encouraged to consult with their personal financial advisors or credit professionals to assess their specific situation. To learn more about MyFICO®'s services, including credit scores and monitoring tools, please visit the MyFICO® website or reach out to a MyFICO® representative. CONTACT: Sonakshi Murze Manager [email protected] SOURCE: iQuanti press release
Yahoo
16-04-2025
- Business
- Yahoo
Fair Isaac Corporation Announces Date for Reporting of Second Quarter Fiscal 2025 Financial Results
BOZEMAN, Mont., April 16, 2025--(BUSINESS WIRE)--Global analytics software leader, FICO, will announce its second quarter fiscal 2025 results on April 29, 2025, after the market closes and will host a conference call on April 29th at 5:00 p.m. Eastern time (4:00 p.m. Central/ 2:00 p.m. Pacific). This call will be webcast and can be accessed at FICO's website at A replay of the webcast will be available at our Event Calendar under Past Events through April 29, 2026. About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting four billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at Join the conversation at & For FICO news and media resources, visit FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries. Statement Concerning Forward-Looking Information Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business 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 the impact of COVID-19 on macroeconomic conditions and FICO's business, operations and personnel, the success of the Company's Decision Management strategy and reengineering initiative, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to protect such data, the failure to realize the anticipated benefits of any acquisitions, or divestitures, and material adverse developments in global economic conditions or in the markets we serve. Additional information on these risks and uncertainties and other factors that could affect FICO's future results are described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2024 and its subsequent filings with the SEC. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. FICO disclaims any intent or obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise. View source version on Contacts Investors & Analysts:Dave SingletonFair Isaac Corporation(800) 459-7125investor@ Sign in to access your portfolio
Yahoo
01-04-2025
- Business
- Yahoo
myFICO Sees Significant Surge in Consumers Checking FICO Scores
As more consumers take control of understanding their credit health, myFICO's free FICO® Score program has provided millions with the tools and education to help them succeed BOZEMAN, Mont., April 01, 2025--(BUSINESS WIRE)--In honor of National Financial Literacy Month, global analytics software leader FICO (NYSE: FICO) is encouraging consumers to take charge of their financial well-being by checking their FICO® Scores for free at As more people recognize the importance of understanding their credit health, FICO has seen a nearly 70% increase in users accessing their FICO® Score 8 for free via myFICO over the past year. As the creator of the credit score that is used by the 90% of top U.S. lenders, FICO continues to lead the way in making credit scores more accessible and understandable for consumers through its commitment to financial education through a variety of initiatives, including: Consumers can visit to check and monitor their FICO® Score 8 for free. The site is regularly updated with credit education materials to help individuals understand their credit and financial standing. FICO® Score Open Access Program: Millions of consumers can access their FICO® Score directly through their bank's online platform, mobile app, or statements. FICO® Score A Better Future™: FICO's Score A Better Future program offers free nationwide credit education events. Participants learn about FICO® Score factors and receive personalized credit coaching from certified nonprofit counselors to support their financial goals. "We recognize that FICO Scores play a key role in life's big milestones, such as buying a car, getting an education or pursuing the dream of homeownership," said Geoff Smith, vice president and general manager of Consumer Scores at FICO. "We're encouraged to see more consumers turning to myFICO to access their FICO Scores for free. Our goal is to provide the clarity and confidence people need." The rise in myFICO users mirrors findings from a FICO study, which found that 74% of Americans believe their financial situation would improve with greater access to personal finance education and tools. The growing interest in resources like myFICO shows that consumers are actively seeking credit education. "One of the biggest misconceptions about credit scores is that checking your own FICO Score will lower it," said Jenelle Dito, vice president of Consumer Empowerment and Partnerships at FICO. "Consumers can check their FICO Score as often as they like through or their bank without it impacting their score. This is an important step in staying informed of their financial health." To learn more or enroll in the myFICO free FICO® Score program, visit About myFICO Get your FICO® Score from the people that make the FICO Scores, for free. Plus, free Equifax credit monitoring and a free Equifax credit report every month. No credit card required. For more information, visit About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at the conversation at & FICO news and media resources, visit FICO and Score A Better Future are trademarks or registered trademarks of Fair Isaac Corporation in the U.S. and other countries. View source version on Contacts FICO Contact Julie Huangpress@
