FICO Launches FICO® Score 4 Suite to Broaden Financial Inclusion in Mexico

Source: Yahoo Finance

FICO, a global analytics leader, today announced the release of FICO® Score 4 and FICO® Extended Score 4 in Mexico. The new score models are specifically designed to seamlessly incorporate the entirety of the credit file, making it ideal for Mexico’s large and dynamic population. In partnership with Círculo de Crédito, in Mexico, FICO has redeveloped the FICO® Score using sophisticated machine learning modeling techniques to mine trends in recent consumer data to help lenders in Mexico predict consumer credit risk. The product is available now.

The FICO® Score was first introduced in Mexico by Círculo de Crédito in 2014 and to date, Círculo de Crédito has sold more than 200 million FICO® Scores, including nearly 30 million FICO® Extended Scores, which are used by banks, fintech’s, finance companies, retailers, insurance companies and other credit grantors to make credit decisions, including for credit cards, auto loans, personal loans, and mortgages.