12/05/2011

By Scott Thompson

FICO and Equifax have announced a new partnership to offer the UK credit and insurance industry sharper risk management solutions. The link up brings together FICO’s predictive analytics and Equifax’ data on 45 million UK consumers as well as access to over 300 million consumer credit agreement records.

The first solution to come from the agreement, set to be launched in May, will bring more comprehensive customer data to credit risk analyses, enabling lenders to make more knowledgeable decisions and reduce losses while cross-selling more effectively and building customer loyalty. “Both Equifax and FICO clients have been telling us that they want the risk management solutions they use to go further in helping them accelerate growth in today’s challenging marketplace,” says Shawn Holtzclaw, managing director, Equifax UK. “We already have a strong working relationship, with a number of shared clients. It made huge sense to create this alliance, delivering innovative solutions that no single company could promise.”

“This is the right time for new ideas, and this alliance is a platform for new ideas,” adds Mike Gordon, vice president and managing director of Europe, the Middle East and Africa at FICO. “UK financial services businesses require broad expertise and innovative solutions in order to accelerate growth. FICO and Equifax are ideally suited to help them develop and execute the game-changing strategies they need to succeed.”