MINNEAPOLIS – Fair Isaac & Co., the creator of the ubiquitous FICO credit score, said yesterday it has agreed to dismiss Equifax as a defendant in its antitrust lawsuit against VantageScore LLC in exchange for a deal to co-market each other’s credit scoring products and services.
Fair Isaac has sued the three credit bureaus; Equifax, TransUnion and Experian over their attempts to collaborate and replace FICO with their VantageScore product.
The Fair Isaac partnership with Equifax will develop and sell advanced analytics and scoring technology for businesses and consumers. The companies will combine Equifax's consumer credit data and Fair Isaac's scoring technology to market and sell new FICO analytic products. The companies are also working together to boost testing and roll-out of the FICO 08 model for Equifax customers.
