ATLANTA – Equifax on Tuesday said it has joined with FICO to offer financial institutions a new analytic solution to help lenders better anticipate account and portfolio risk in light of shifting economic events.
FICO Economic Impact Index provides lenders with critical insights for portfolio stress testing, enabling them to adjust their risk management policies and decision strategies.
Developed by FICO and initially available on an exclusive basis from Equifax, FICO said its Economic Impact Index helps lenders understand how future economic fluctuations can affect BEACON 09 (FICO 8) credit scores. Leveraging Equifax’s unique data assets, the solution helps lenders assess the potential impact of various economic scenarios on the repayment risk levels related to FICO 8 scores.
FICO previously was known as Fair Isaac.
