FICO
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"Make every decision count"
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| Public company | |
| Traded as | NYSE: FICO |
| Industry | Computer |
| Founded | 1956 (as Fair, Issac, and Company) |
| Headquarters | San Jose, California |
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Area served
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Worldwide |
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Key people
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William Lansing, CEO[1] Bill Fair, co-founder Earl Isaac, co-founder |
| Products | FICO Score |
| Services | Computer Software |
| Revenue |  US$788.99 million (2014) |
| US$94.88 million (2014) |
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| Total assets | US$1.192 billion (2014) |
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Number of employees
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2,646 (2014) |
| Website | www |
FICO (NYSE: FICO) is a software company based in San Jose, California, and founded by Bill Fair and Earl Isaac in 1956.[2] Its FICO score, a measure of consumer credit risk,[3] has become a fixture of consumer lending in the United States.
In 2013, lenders purchased more than 10 billion FICO scores and about 30 million American consumers accessed their scores themselves.[4]
Contents
History
FICO was founded in 1956 as Fair, Isaac and Company by engineer William Fair and mathematician Earl Isaac.[5] The two had met while working at the Stanford Research Institute in Menlo Park, California.[6] Selling its first credit scoring system two years after the company's creation,[7] FICO pitched its system to fifty American lenders.[8]
FICO went public in 1986 and is traded on the New York Stock Exchange.[5] The company debuted its first general-purpose FICO score in 1989.[3] Scores are based on credit reports and range from 300 to 850.[3] Lenders use the scores to gauge a potential borrower's creditworthiness.[9]
Fannie Mae and Freddie Mac first began using FICO scores to help determine which American consumers qualified for mortgages bought and sold by the companies in 1995.[10]
Name changes
Originally called Fair, Isaac and Company, this name was changed to Fair Isaac Corporation in 2003.[7] The company rebranded again in 2009, and is now called FICO.[11]
Headquarters moves
Originally based in San Rafael, California, FICO moved its headquarters to Minneapolis, Minnesota, in 2004.[12] In 2013, it moved back to California and is currently sited in San Jose, California.[13]
Acquisitions
- DynaMark 1992[14]
- Risk Management Technologies 1997[15]
- Prevision 1997[16]
- Nykamp Consulting Group 2001[17]
- HNC Software 2002[18]
- NAREX 2003[19]
- Diversified Healthcare Services 2003[20]
- Seurat (2003)[21]
- London Bridge Software 2004[22]
- Braun Consulting 2004[23]
- RulesPower 2005[24]
- Dash Optimization 2008[25]
- Entiera 2012[26]
- Adeptra 2012[27]
- CR Software 2012[28]
- Infoglide 2013[29]
- InfoCentricity 2014[30]
- Karmasphere 2014[31]
- TONBELLER AG 2015[32]
Operations
FICO is headquartered in San Jose, California and has additional US locations in Roseville, Minnesota; San Diego; San Rafael, California; Fairfax, Virginia; New York City and Austin, Texas.[33]
The company has international office locations in Australia, Brazil, Canada, China, Germany, India, Italy, Japan, Korea, Lithuania, Malaysia, the Philippines, Russia, Singapore, South Africa, Spain, Taiwan, Thailand, Turkey and the United Kingdom.[33]
FICO score
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A measure of credit risk, FICO scores are available through all of the major consumer reporting agencies in the United States, Mexico and Canada: Equifax;[34] Experian;[34] TransUnion;[34] PRBC.[35]
See also
References
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- ↑ 7.0 7.1 History FICO Official Site
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- ↑ FICO Unveils New Ticker Symbol on New York Stock Exchange FICO Official Site
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- ↑ 34.0 34.1 34.2 Credit Reporting Agencies FICO Official Site
- ↑ Fair Isaac and PRBC Team Up to Enhance Credit Risk Tools Used by Mortgage Industry FICO Official Site
- Pages with reference errors
- Official website not in Wikidata
- Business intelligence companies
- Business software companies
- Companies based in Minneapolis, Minnesota
- Companies listed on the New York Stock Exchange
- Data mining and machine learning software
- Data visualization software
- Financial services companies based in California
- Financial technology companies
- Multinational companies headquartered in the United States
- Software companies based in the San Francisco Bay Area
- Statistical software
- Companies established in 1956
