Topic: How To Invest

Stock Pickers Digest Hotline – Friday, October 26, 2018

Article Excerpt

FAIR ISAAC CORP., $189.88, symbol FICO on New York, is best known for its FICO Scores software. That lets lenders make better decisions about customer creditworthiness. The company also makes programs that help credit-card issuers reduce fraud and analyze the spending patterns of cardholders. Fair Isaac plans to launch a new scoring system in early 2019 aimed at people who haven’t borrowed money or used credit cards. As a result, they have only a limited credit history. The UltraFICO Score is aimed at boosting the number of approvals for credit cards, personal loans and other debt by taking into account a borrower’s history of cash transactions in their chequing, savings and other accounts. This could indicate how likely they are to repay. Lenders are looking for ways to expand loan approvals at a time when consumer loan balances—including for credit cards, auto loans and personal loans—are already at record highs. On the other hand, unemployment is low, and the overall ability to repay…