FICO Scores at Círculo de Crédito Have Helped Millions More Mexicans Get Credit
Developed by analytics software firm FICO based on data from Mexican credit bureau Círculo de Crédito, the FICO Extended Score analyzes information on a credit applicant's household credit history, in order to score people with no credit history who might otherwise find it hard to get credit. An estimated 10 million Mexicans lack enough credit history to calculate a standard FICO Score, which makes it harder to get approval for a loan or credit card.
More information: http://www.fico.com/en/customers/circulo-de-credito
"Financial inclusion is one of our most important initiatives," said
"Through the FICO Extended Score, we have raised the percentage of credit applicants we can score from 45 percent to 95 percent," said
The fast growth in usage of the FICO Extended Score matches the growing use of the standard FICO® Score in
About Círculo de Crédito
Círculo de Crédito provides strategic information to empower people and organizations in the key moments of their life. With over 2,600 customers, and presence in México and Perú, Círculo partners with banks, retailers, telcos, government, financial and insurance institutions to help them make the best decisions and benefit their customers through customer data, value-added products such as scores, and customized solutions in México and Perú.
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in
FICO is a registered trademark of
Learn more about FICO:
Website: http://www.fico.com/
Blog:http://www.fico.com/blogs/
LinkedIn: https://www.linkedin.com/company/3398/
Twitter: @FICO, @FICOLatAmCaribe
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SOURCE FICO
Greg Jawski for FICO, Email: greg.jawski@porternovelli.com, Phone: +1 212-601-8248