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.”
Pictured: Senior Director, Product Management, Shalini Raghavan presenting FICO Decision Management Platform Streaming at FinDEVr New York.
FICO is also adding new executive talent. Claus Moldt will join FICO as the company’s new Chief Information Officer. Moldt previously served as CEO of mobile app development platform, mPath, and before that as global CIO and SVP of service delivery at Salesforce. Having also worked in leadership roles at eBay and Oracle, Moldt arrives as FICO prepares to launch its next-generation Decision Management Suite. Moldt is expected to apply his 29 years of operational experience, in the words of FICO EVP and CTO, Stuart Wells, “ensure that our IT infrastructure operates securely, reliably and to the high technical standards that our customers across the globe have come to expect.”
“”FICO is establishing a new platform that will become the next industry standard,” Moldt said. “The opportunity to be part of introducing and scaling it up is very exciting.”
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.