Equifax renews Fico Scores deal
FICO (FICO), a leading predictive analytics and decision management software company, and Equifax, Inc. (EFX), a global leader in consumer, commercial and workforce information solutions, today announced a renewed multi-year agreement to provide FICO® Scores to the U.S. banking community.
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Equifax will continue reselling FICO® Scores and provide FICO access to its consumer data for the purposes of developing and marketing new analytics that will meet the changing requirements of businesses. As part of the new agreement, FICO will be able to sell FICO® Scores directly to lenders and third-party resellers. Consumers will continue to have access to their FICO® Score based on Equifax credit data at www.myfico.com and www.equifax.com/credit-score. Furthermore, FICO® Scores based on Equifax credit data will be made available to consumers through third parties.
"Between growing competitive pressures and increasingly complex regulatory requirements, lenders are gravitating toward the best data and analytic tools available," said Brian Riley, CEB TowerGroup. "The agreement reached between FICO and Equifax will be welcome news for lenders, providing continued options for the marketplace."