Fresh off its FinDEVr New York debut, predictive analytics pioneer FICO is making headlines on both the product and personnel fronts. The company’s new FICO Score Simulator, unveiled this week at myFICO.com, draws on data from all three major credit bureaus to show consumers how hypothetical financial decisions or circumstances might impact their FICO score.
Vice President of Consumer Scores at FICO Geoff Smith pointed out that FICO scores are used in more than 90% of the lending decisions in the U.S. The Simulator provides a look into 24 different financial situations including refinancing a mortgage, maxing out credit cards, and taking out a car loan. “Our mission is to empower consumers with tools and content that help them understand their financial health,” Smith said, “including decisions that could impact FICO scores.”
FICO demonstrated Decision Management Platform Streaming as part of its presentation, “Rapidly Deliver Contextually Powered Stream Processing,” at FinDEVr New York. Founded in 1956, FICO is headquartered in San Jose, California, and is publicly traded on the New York Stock Exchange under the symbol “FICO.” The company will hold its FICO World 2016 conference in Washington, D.C. at the end of April.