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FICO Seeks to Take Scores to New Level

Fair Isaac Corp. wants the next generation of scores to not only reflect a record of how well or poorly consumers have paid their debts in the past but also to predict how they are likely to react to future economic events.

By David Morrison | Updated on March 16, 2010

Fair Isaac Corp., the creator of the ubiquitous FICO credit scores, wants the next generation of scores to not only reflect a record of how well or poorly consumers have paid their debts in the past but also to predict how they are likely to react to future economic events.

To help accomplish this, Fair Isaac has rolled out something it has called the FICO Economic Impact Service, a product that company executives have explained will allow them to “nuance” or “shade” credit scores and allow lenders to make more targeted underwriting decisions.

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