Equifax, FICO join forces to give banks one-stop analytics product

▤ Summary

Equifax and FICO have partnered to create a product for banks that combines consumer data with analytical software. Begor said most banks acquire consumer data from two of the three major credit bureaus (Equifax, Experian and TransUnion). FICO develops analytics and decision management software, in addition to its namesake consumer credit scores . The announcement comes at a time when Equifax is still facing scrutiny for a massive data breach in 2017 that affected over 145 million consumers, and lawmakers are weighing legislation to reform to the credit reporting industry . An executive at KeyCorp in Cleveland said that Equifax and FICOs integration of credit data and software in the same product will benefit the industry.

▦ Linked Companies

Fair Isaac Corporation

$1B+

Equifax Inc.

$1B+