FICO (NYSE: FICO), global analytics software leader, today announced the general availability of the next-generation UltraFICO® Score, a credit score that combines the proven reliability of the FICO Score, used by 90% of top U.S. lenders, with real-time, consumer-permissioned cash flow data. Developed by FICO and powered by Plaid's data network, the UltraFICO®
Score provides lenders with an enhanced measure of consumer credit risk, on the same industry standard score scale lenders trust, with minimal operational lift.
The UltraFICO® Score builds on traditional credit data by incorporating cash flow insights drawn from consumer-permissioned bank account data across Plaid's network of more than 12,000 financial institutions, including cash inflows and outflows, account balance stability, and spending behavior. The result is a single, enhanced score that delivers superior risk assessment without requiring lenders to overhaul their existing decisioning systems.
"Lenders want more insight without complexity,” said Julie May, vice president and general manager of B2B Scores at FICO. “The UltraFICO Score advances credit scoring by delivering cash flow insights in a format lenders already understand, on the same score scale they already use, and within the workflows they already rely on. Our new score will enable more precise decisions with minimal operational rework, while recognizing consumers for financial behaviors not captured by traditional credit file data alone.”
FICO shares jumped $16.41, or 1.4%, to $1,203.45.
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