National Bureau of Credit Histories (NBKI), the premier credit bureau in Russia, and Fair Isaac Corporation (NYSE: FIC), the leading provider of analytics and decision management technology, today announced the immediate availability to Russian lenders of the FICO® Score from NBKI. The quality of NBKI credit data enabled Fair Isaac analysts to accelerate their configuration of the FICO® Score for the Russian market in order to meet lenders’ growing demand for predictive analytics that assess consumer credit risk with a high degree of precision.
“The FICO Score produced at NBKI is important for Russian banks and consumers because it makes the credit bureau data much more usable with other internal bank systems and scores. This objective new measure gives banks a much more accurate view of a consumer’s ability to repay credit. The new FICO Score means that banks can now give access to credit to consumers who would in the past have been declined credit while better identifying risky consumers who are likely to be unable to repay credit,” said Alexander Klychkov, President of NBKI .
“The quality of NBKI’s credit data and the flexible design of our FICO scoring model enabled us to customize this highly predictive score in three months for the evolving Russian market,” said Tom Quinn, Vice President of Global Scoring for Fair Isaac. “Lenders throughout Russia now have access to the same premier FICO score for measuring credit risk that has become the industry standard in other national economies.”
Lenders can use FICO® Scores to more confidently tailor their credit product offerings to the risk profile of individual consumers. In this way lenders can safely increase their penetration of the market, reduce their risk exposure, and improve their profits in a controlled and customizable manner. The score is complementary to custom application and behavior models and can be used alongside internal scores at all stages in the credit lifecycle.
About NBKI
National Bureau of Credit Histories, OJSC, was established by leading Russian banks and is known as a leader in the Russian credit information market. NBKI is significantly more successful than all other Russian credit bureaus with the largest number of partner banks and the largest number of credit reports issued. NBKI also has the highest hit-rate for Russian bureaus with over 60% of reports returned with a history. One third of all Russian credit histories are stored at NBKI. Learn more about NBKI at www.nbki.ru.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) transforms business by making every decision count. Fair Isaac’s Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with Fair Isaac to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. Learn more about Fair Isaac at www.fairisaac.com