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Monday, June 17, 2019

MBA Premier Member Profile

By MBA Staff
May 19, 2019

Topics:
MBA Premier Member
FICO
Joanne Gaskin


(One in a continuing series of profiles of Premier Members of the Mortgage Bankers Association.)

FICOFICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 180 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries.

Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Key Senior Personnel
Joanne Gaskin, Vice President, Scores and Predictive Analytics

MBA INSIGHTS: What is the most important issue facing your company right now?

JoanneGaskinJOANNE GASKIN, FICO: While we have several key initiatives for 2019, our primary focus continues to be advancing financial inclusion. Since the revolutionary launch of the FICO Score nearly 30 years ago, which shifted underwriting decisions from judgmental to empirically derived, FICO has continued to innovate to build the most robust models through the exploration of new technology and FCRA compliant data sets.

One such innovation is the launch of the new UltraFICOTM Score. The UltraFICOTM Score provides a new dimension of insight that unlocks the potential of millions of consumers with positive financial profiles that extend beyond their traditional credit report. Now consumers are empowered to contribute their checking, savings and money market account data to enhance their FICO® Score. This provides a broader view for lenders to assess credit worthiness and gain the benefit of unprecedented risk insight driven by integrating cash flow dynamics into a consumer credit score. By opting in, a consumer could broaden their access to more lending options and better terms. This exciting new product is in the pilot phase and will be generally available later this year.

INSIGHTS: What are some key trends your company is tracking?

GASKIN: FICO continues to closely analyze consumer credit performance across economic cycles and data furnishing trends. For example, while telco is frequently mentioned as a data source that could provide valuable insight into consumer credit assessment, we find less than 5% of consumers have telco data in their credit bureau files, whereas the alternative data sources leveraged by FICO® Score XD for example, has this data for more than 220 million consumers.

INSIGHTS: Why did your company join the Mortgage Bankers Association?

GASKIN: FICO has enjoyed a long standing membership with the MBA, benefiting from participating on policy committees, access to economic research and the top notch education available through conference programming. We are also pleased to support the MBA as the trade group that works to support the entire mortgage lending industry.

INSIGHTS: How has being an MBA Premier Member benefited your company?

GASKIN: As a premier member, we have the opportunity to be more engaged with expert MBA policy and economic staff as well as with other MBA members through events and the ability to post white papers on the MBA website.

(MBA Premier Member Profiles are a service provided by the Mortgage Bankers Association and MBA NewsLink as a service to MBA Premier Members. Publication does not constitute an endorsement of a particular company, product or service. For more information about the MBA Premier Member program, contact Rashida Holmes at rholmes@mba.org or 202/557-2779.)

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