Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



FICO and Equifax Extend Partnership

Renewing a partnership that dates back to 2008, FICO (NYSE: FICO  ) has inked a "multi-year agreement" with Equifax (NYSE: EFX  ) to continue providing its partner with FICO scores for resale to U.S. banks, FICO announced today.

In addition to Equifax marketing its Scores service, FICO will also sell the service directly to mortgage lenders and other third parties, according to FICO's statement. In exchange, Equifax will make its consumer data available to FICO for use in "developing and marketing new analytics."

Though financial terms of the deal were not disclosed, Equifax's U.S. Consumer Information Solutions (CIS) division, which includes mortgage data services, represented nearly half its most recently announced quarterly earnings of $586.9 million. Of the quarter's total revenues, CIS generated $259.7 million, according to Equifax's most recent SEC filing.

In FICO's recently announced fiscal Q4, its SCORES division, which includes its credit solutions, generated $46.1 million in revenues, down 1% from the year-ago quarter. For the business-to-business SCORES unit, FICO saw an 8% decline in revenues, much of which was offset by strong results in its business-to-consumer segment.

The renewed agreement between Equifax and FICO will not impact consumer's ability to access FICO Scores directly, the company said.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2715271, ~/Articles/ArticleHandler.aspx, 9/29/2016 11:26:57 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,290.62 -48.62 -0.27%
S&P 500 2,164.01 -7.36 -0.34%
NASD 5,294.80 -23.75 -0.45%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/29/2016 11:10 AM
EFX $133.68 Down -0.74 -0.55%
Equifax CAPS Rating: ****
FICO $126.43 Down -0.96 -0.75%
Fair Isaac CAPS Rating: *****