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===Name changes===
===Name changes===
Originally called Fair, Isaac and Company (hence the abbreviation FICO), this name was changed to Fair Isaac Corporation in 2003.<ref name=hist/> The company renamed itself FICO in 2009.<ref>[http://www.fico.com/en/Company/News/Pages/08-10-2009.aspx FICO Unveils New Ticker Symbol on New York Stock Exchange]{{dead link|date=September 2016}} FICO Official Site</ref>
Originally called Fair, Isaac and Company (hence the abbreviation FICO), this name was changed to Fair Isaac Corporation in 2003.<ref name=hist/> The company renamed itself FICO in 2009.<ref>[http://www.fico.com/en/Company/News/Pages/08-10-2009.aspx FICO Unveils New Ticker Symbol on New York Stock Exchange] {{wayback|url=http://www.fico.com/en/Company/News/Pages/08-10-2009.aspx |date=20120317072546 }} FICO Official Site</ref>


===Headquarters moves===
===Headquarters moves===
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*DynaMark 1992<ref>{{cite web|url=http://www.twincities.com/ci_20918752/fico-consolidating-operations-roseville|title=FICO consolidating operations in Roseville|publisher=twincities.com|date=2012-06-22|accessdate=2014-10-30}}</ref>
*DynaMark 1992<ref>{{cite web|url=http://www.twincities.com/ci_20918752/fico-consolidating-operations-roseville|title=FICO consolidating operations in Roseville|publisher=twincities.com|date=2012-06-22|accessdate=2014-10-30}}</ref>
*Risk Management Technologies 1997<ref>{{cite web|url=http://www.contenthouse.com/rmt/newspg/radrscp/fi-mergr.htm|title=RMT Merges with Fair, Isaac|date=July 1997|accessdate=2014-10-30}}</ref>
*Risk Management Technologies 1997<ref>{{cite web|url=http://www.contenthouse.com/rmt/newspg/radrscp/fi-mergr.htm|title=RMT Merges with Fair, Isaac|date=July 1997|accessdate=2014-10-30}}</ref>
*Prevision 1997<ref>{{cite web|url=http://www.buy-sell-econtent.com/2011/Speakers/BruceDAmbrosio.aspx|title=Bruce D D'Ambrosio|publisher=buy-sell-econtent.com|accessdate=2015-05-14}}</ref>
*Prevision 1997<ref>{{cite web|url=http://www.buy-sell-econtent.com/2011/Speakers/BruceDAmbrosio.aspx |title=Bruce D D'Ambrosio |publisher=buy-sell-econtent.com |accessdate=2015-05-14 |deadurl=yes |archiveurl=https://web.archive.org/web/20160304185359/http://www.buy-sell-econtent.com/2011/Speakers/BruceDAmbrosio.aspx |archivedate=2016-03-04 |df= }}</ref>
*Nykamp Consulting Group 2001<ref>{{cite web|url=http://www.bizjournals.com/sanjose/stories/2001/12/10/daily24.html|title=Fair, Isaac to acquire Nykamp Consulting|date=2001-12-12|accessdate=2014-10-30}}</ref>
*Nykamp Consulting Group 2001<ref>{{cite web|url=http://www.bizjournals.com/sanjose/stories/2001/12/10/daily24.html|title=Fair, Isaac to acquire Nykamp Consulting|date=2001-12-12|accessdate=2014-10-30}}</ref>
*HNC Software 2002<ref>{{cite web|url=http://www.sfgate.com/business/article/Fair-Isaac-merging-with-HNC-Software-2844440.php|title=Fair Isaac merging with HNC Software|date=2002-04-30}}</ref>
*HNC Software 2002<ref>{{cite web|url=http://www.sfgate.com/business/article/Fair-Isaac-merging-with-HNC-Software-2844440.php|title=Fair Isaac merging with HNC Software|date=2002-04-30}}</ref>

Revision as of 01:55, 10 November 2016

Template:Distinguish2

FICO
Company typePublic company
NYSE: FICO
IndustryComputer
Founded1956 (as Fair, Isaac, and Company)
Headquarters
San Jose, California
Area served
Worldwide
Key people
William Lansing, CEO[1]
Bill Fair, co-founder
Earl Isaac, co-founder
ProductsFICO Score
ServicesComputer Software
RevenueIncrease US$788.99 million (2014)
Increase US$94.88 million (2014)
Total assetsIncrease US$1.192 billion (2014)
Number of employees
2,646 (2014)
Websitewww.fico.com

FICO (NYSE: FICO), originally Fair, Isaac and Company, is a data analytics company based in San Jose, California focused on credit rating services. It was 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]

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 (hence the abbreviation FICO), this name was changed to Fair Isaac Corporation in 2003.[7] The company renamed itself FICO in 2009.[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]
  • QuadMetrics 2016[33]

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.[34]

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.[34]

FICO score

Main article: FICO score

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;[35] Experian;[35] TransUnion;[35] PRBC.[36]

See also

References

  1. ^ "FICO shuffles executive ranks under new CEO". Twin Cities Business. 25 April 2012. Retrieved 21 October 2014.
  2. ^ "How FICO became 'the' credit score". bankrate.com. 2009-12-04. Retrieved 2015-05-13.
  3. ^ a b c Ann Carrns (10 May 2012). "Is That Credit Score a FICO, or a FICO 8?". New York Times. Retrieved 21 October 2014. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  4. ^ Evan Nemeroff (7 March 2014). "New FICO Scoring Model Coming This Summer". National Mortgage News. Retrieved 21 October 2014.
  5. ^ a b Dean Foust; Aaron Pressman (2008-02-06). "Credit Scores: Not-So-Magic Numbers". Retrieved 2014-11-02.
  6. ^ Jennifer Bjorhus (2013-01-04). "Fair Isaac moving its HQ back to California". Retrieved 2014-11-02.
  7. ^ a b History FICO Official Site
  8. ^ Adriene Hill (2014-04-22). "A brief history of the credit score". Retrieved 2014-11-02.
  9. ^ Ann Carrns (2012-05-03). "Report Finds Improvement in Credit Scores". Retrieved 2014-11-02.
  10. ^ "North American Credit Scoring & Reporting". benbest.com. 2009-12-04. Retrieved 2015-05-13.
  11. ^ FICO Unveils New Ticker Symbol on New York Stock Exchange Template:Wayback FICO Official Site
  12. ^ Dan Fost (11 May 2004). "Fair Isaac moving its hub / Most company executives already set up in Minnesota". SFGate. Retrieved 21 October 2014.
  13. ^ Pete Carey (4 January 2013). "FICO moves headquarters to San Jose". Mercury News. Retrieved 21 October 2014.
  14. ^ "FICO consolidating operations in Roseville". twincities.com. 2012-06-22. Retrieved 2014-10-30.
  15. ^ "RMT Merges with Fair, Isaac". July 1997. Retrieved 2014-10-30.
  16. ^ "Bruce D D'Ambrosio". buy-sell-econtent.com. Archived from the original on 2016-03-04. Retrieved 2015-05-14. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  17. ^ "Fair, Isaac to acquire Nykamp Consulting". 2001-12-12. Retrieved 2014-10-30.
  18. ^ "Fair Isaac merging with HNC Software". 2002-04-30.
  19. ^ "Narex sold for $10M". 2003-07-28. Retrieved 2014-10-30.
  20. ^ "Fair Isaac Acquires Diversified HealthCare". 2003-09-19. Retrieved 2014-10-30.
  21. ^ "California firm buys Seurat". 2003-10-06. Retrieved 2014-10-30.
  22. ^ "Fair Issac offers $166m for London Bridge Software". 2004-04-26.
  23. ^ "Fair Isaac and Braun Consulting Announce Acquisition Agreement". 2004-09-24. Retrieved 2014-10-30.
  24. ^ "Fair Isaac Acquires RulesPower Technology to Advance Business Rules Capabilities". 2005-09-28. Retrieved 2014-10-30.
  25. ^ "Fair Isaac Acquires Dash Optimization, Bringing Increased Power". Retrieved 2014-10-30.
  26. ^ Howard Pankratz (2012-05-09). "Denver-based Entiera acquired by FICO". Retrieved 2014-10-30.
  27. ^ "FICO completes $115M acquisition of Adeptra". finance.yahoo.com. Yahoo!. September 10, 2012. Retrieved 4 November 2014.
  28. ^ Ed Stych (2012-11-26). "FICO buys collections and receivables software company". Retrieved 2014-10-30.
  29. ^ "Infoglide Software acquired by credit score giant FICO". 2013-04-04. Retrieved 2014-10-30.
  30. ^ "FICO Set to Acquire InfoCentricity". 2014-03-14. Retrieved 2014-10-30.
  31. ^ "FICO Adds Big Data Analytics for Hadoop to FICO Analytic Cloud". 2014-05-16. Retrieved 2014-10-30.
  32. ^ "FICO Acquires TONBELLER". Retrieved 2015-05-21.
  33. ^ "FICO Will Offer Enterprise Security Score for Organizations". Retrieved 2016-11-02.
  34. ^ a b "Office Locations". Retrieved 2014-10-30.
  35. ^ a b c Credit Reporting Agencies FICO Official Site
  36. ^ Fair Isaac and PRBC Team Up to Enhance Credit Risk Tools Used by Mortgage Industry FICO Official Site
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