SAN RAFAEL, Calif. - Credit approved on the Internet is expected to increase 74%, says Forrester Research, and with consumers clamoring for instant credit approval, that's what Fair, Isaac's new decisioning technology, LiquidCreditT has been developed for. It's not enough to use the Internet simply to make faster decisions, said Tom Grudnowski, president/CEO, Fair, Isaac. The right credit decision means more than approving a single transaction, it means finding the customer who will be profitable and loyal in an ongoing relationship. Forrester Research estimates that by 2003, more than $160 billion in consumer credit will be extended online. LiquidCredit instantly evaluates applicant risk, returns suggested credit decisions based on product-matching analytics and the grantor's strategy, and matches scored applicants to various credit grantors' lending criteria, presenting applicants with a variety of credit options. The product offers a Web-based decision engine, credit reporting agency interface, association transaction management tools and the ability for businesses to design their own decision criteria and strategies. LiquidCredit will be available beginning May 17 at Fair, Isaac's InterACT conference in San Francisco.
Fair, Issac to deliver instant credit decisioning solution
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