Equifax, Fair Isaac Partner for Analytics, Scoring Solutions
Equifax and Fair Isaac have announced a partnership "to develop and sell advanced analytics and scoring solutions for businesses and consumers. Under the agreement, the two companies will leverage Equifax's consumer credit data and Fair Isaac's scoring technology, and will jointly market and sell new FICO analytic products."
The companies are also working together to accelerate testing and roll-out of the FICO 08 model for Equifax customers.
Separately, Fair Isaac has agreed to dismiss Equifax as a defendant in its lawsuit against VantageScore LLC and the three national credit reporting companies.
"Equifax and Fair Isaac have worked closely for many years, developing industry-leading credit tools. This new agreement further solidifies our working relationship and allows both companies to provide better solutions to their customers," said Richard F. Smith, Chairman and CEO, Equifax.
"Our longstanding partnership with Equifax is entering a new phase -- one that will drive rapid development and distribution of advanced analytic solutions," said Mark Greene, CEO, Fair Isaac. "When the world's leading provider of analytics and decision management solutions aligns with one of the world's leading information technology companies, the customers of both companies win."
On the consumer side, Equifax and Fair Isaac have a long history of providing products that combine the Equifax credit report with the FICO Score, including the delivery of ScorePower(TM) and ScoreWatch(TM) through Equifax's Personal Information Solutions business at Equifax.com, as well as through Fair Isaac's myFICO.com web site. This new agreement creates additional opportunities for developing better tools and delivering them directly to consumers for use in managing their credit reputation and relationships.
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