Posts Tagged ‘risk’
Analyzing Mutual Fund Risk
Find out whether a funds performance is a result of the managers abilities, or just a fluke.
This article courtesy of yfina-Mutual Funds copy copy
FICO and TransUnion Introduce a Powerful New FICO Score for the Canadian Market
Source: FICO
On Monday January 31, 2011, 10:00 am EST
TORONTO–(BUSINESS WIRE)–
FICO (NYSE:FICO – News), the market leader and recognized standard in credit
scoring, and TransUnion, a global leader in credit and information
management, today announced they are bringing the newest FICO®
Score service to Canada. Based on the FICO® 8 Score, the new
service offers a highly predictive general risk score designed
specifically for the Canadian market.
Validation tests are occurring now, and they indicate customers will
receive three-to-five times the incremental improvement in risk
prediction typically generated by an enhanced scoring model. The service
will be available for full implementation in March 2011. Over the
preceding two decades, FICO and TransUnion have partnered to deliver a
unique combination of powerful analytics, agile service infrastructure
and robust data to an extensive customer base in Canada, which includes
leading national, regional and international lenders.
The new version of the FICO® Score adapts the latest
predictive analytics technologies and scoring blueprints from FICO to
the specific dynamics of the Canadian market. With TransUnion’s
database, covering the entire Canadian credit population, the new score
captures the latest risk patterns and offers more predictive risk
assessment, especially in support of new account originations,
new-to-credit populations and line-of-credit portfolios. The FICO®
8 Score evaluates line of credit accounts separately from other
revolving credit instruments—like credit cards—since consumers use these
products differently. In addition, the score evaluates consumers with
relatively few credit accounts differently from consumers with more
mature credit histories, in order to improve risk identification.
Today, FICO delivers nearly 350 million FICO® Scores to
clients throughout Canada annually. Canadian credit grantors use FICO®
Scores across the entire credit lifecycle, from booking new accounts to
managing current customers. Nine of the top 10 Canadian lenders use the
FICO® Score, and major Canadian lenders have committed to
evaluate and plan their adoption of the new FICO® 8 Score.
“TransUnion and FICO have long collaborated to deliver some of the most
sophisticated risk analytics solutions to Canadian financial services
companies,” said Thomas Higgins, TransUnion’s Vice President of
Analytics and Decisioning. “Once again, we are combining our
best-in-class service infrastructure with a new version of the FICO
Score, to help lenders enhance decision making and improve their bottom
line.”
“We have had a strong presence in Canada for more than 20 years and
during that time, with broad collaboration from TransUnion, we have
established FICO as the leading provider of credit scores in the
country,” said Jordan Graham, executive vice president of Scores for
FICO. “TransUnion has built an extensive credit history database that
covers the entire Canadian population and, as a result, unleashes the
full power of the new FICO 8-based score for our customers.â€
Clients can easily upgrade to the new version of the FICO® 8
Score to take advantage of the added features and performance. The joint
FICO-TransUnion service has been designed to integrate seamlessly into a
client’s established credit processes with minimal IT and operational
support, delivering advanced predictive power with a minimum of
implementation costs.
“Our Canadian clients tell us consistently about their desire to build
their decision management systems on the most trusted score model
available,” said Kathleen Stares, vice president and head of FICO
Canada. “We understand and appreciate the value they place on advanced
predictive analytics, and are pleased to be able to offer them FICO 8,
the global industry standard, through our partnership with TransUnion.”
About TransUnion
As a global leader in credit and information management, TransUnion
creates advantages for millions of people around the world by gathering,
analyzing and delivering information. For businesses, TransUnion helps
improve efficiency, manage risk, reduce costs and increase revenue by
delivering comprehensive data and advanced analytics and decisioning.
For consumers, TransUnion provides the tools, resources and education to
help manage their credit health and achieve their financial goals.
Through these and other efforts, TransUnion is working to build stronger
economies worldwide. Based in Toronto, with global headquarters located
in Chicago, Illinois, TransUnion provides service and support throughout
Canada. Visit www.transunion.ca
to learn more.
About the FICO® Score
With over 10 billion FICO® Scores used worldwide to
empower lenders to make credit decisions, the FICO®
Score has become the standard measure of credit risk worldwide. FICO®
Scores are used today in more than 20 countries on five continents, as
well as all of the top 50 U.S. financial institutions and both the ǹ
largest U.S. credit card issuers and auto lenders. The latest FICO®
Score version, the FICO® 8 Score, has already been
adopted by more than 3,000 lenders.
About FICO
FICO (NYSE:FICO – News) transforms business by making every decision count.
FICO’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 FICO to increase customer loyalty and
profitability, cut fraud losses, manage credit risk, meet regulatory and
competitive demands, and rapidly build market share. FICO also helps
millions of US individuals manage their credit health through the www.myFICO.com
website. Learn more about FICO at www.fico.com.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements
contained in this news release that relate to FICO or its business are
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially, including the
success of the Company’s Decision Management strategy and reengineering
plan, the maintenance of its existing relationships and ability to
create new relationships with customers and key alliance partners, its
ability to continue to develop new and enhanced products and services,
its ability to recruit and retain key technical and managerial
personnel, competition, regulatory changes applicable to the use of
consumer credit and other data, the failure to realize the anticipated
benefits of any acquisitions, continuing material adverse developments
in global economic conditions, and other risks described from time to
time in FICO’s SEC reports, including its Annual Report on Form 10-K for
the year ended September 30, 2010. If any of these risks or
uncertainties materializes, FICO’s results could differ materially from
its expectations. FICO disclaims any intent or obligation to update
these forward-looking statements.
FICO and myFICO are trademarks or registered trademarks of Fair Isaac
Corporation in the United States and in other countries.
Contact:
Investors/Analysts:
FICO
Mike Pung, +1 800-213-5542
investor@fico.com
or
Media:
FICO
Jason Sprenger, +1 612-758-5334
JasonSprenger@fico.com
or
TransUnion
Dave Blumberg, +1 312-985-3059
dblumbe@transunion.com
This article courtesy of FICO and TransUnion Introduce a Powerful New FICO Score for the Canadian Market
Credit Karma Launches Two New Free Scores for Consumers
SAN FRANCISCO, CA–(Marketwire – 01/06/11) – CreditKarma.com, the consumer’s credit advocate, is now providing consumers with two additional scores for free — the VantageScore and TransUnion Auto Insurance Risk Score. These new scores, along with CreditKarma.com’s current offerings including TransRisk Credit Score, ScoreSavings, Credit Report Card and Credit Score Simulator, provide consumers with a comprehensive view of their overall credit health.
“CreditKarma.com strives to offer our more than 2 million members a broad set of free educational tools for one of the most important aspects of their financial wellbeing,” said Ken Lin, CEO of CreditKarma.com. “The addition of the VantageScore and TransUnion Auto Insurance Risk Score provide further access and transparency to a traditionally confusing industry.”
- VantageScore — VantageScore combines the collective experience of industry leading experts on credit data, credit risk modeling and analytics. This next generation credit score was developed by the nation’s three major credit reporting companies — Equifax, Experian and TransUnion — to provide a consistent and accurate approach to credit scoring. It is used by numerous lenders to make billions of decisions annual
ly, including four out of the top five financial institutions and five out of the top five credit card issuers.
- TransUnion Auto Insurance Risk Score — Auto insurance risk scores are used by insurers to determine a consumer’s auto insurance premium. The TransUnion Auto Insurance Risk Score is created from a consumer’s credit report rather than driving history and was built according to standards set by the National Conference of Insuran
ce Legislators Model Act. With this new free tool, consumers can better understand how their auto insurance premiums are calculated.
Consumers’ credit history impacts much more than approval for a new credit card account. Insurance premiums, access to homeowner and car insurance, employment and renting a home or apartment can all be affected by poor credit. CreditKarma.com’s extensive tool suite provides consumers with precise, reliable data to successfully understand and manage all aspects of their finances and realize the everyday cost savings by having a good credit score. A good credit score can save a person more than one million dollars over the course of a lifetime.
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Investing risk remained unfashionable in 2010
BOSTON (AP) — Risk remained out of fashion in 2010 for U.S. investors. They spent most of the year withdrawing more money from stock mutual funds than they put in.
They withdrew a net $42 billion from U.S. stock funds in 2010. That’s according to preliminary data Tuesday from fund tracker EPFR Global.
Investors were cautious last year, adding a net $174 billion to U.S. bond funds, which are typically safer than stock funds. This surge into bond funds fell short of the record $213 billion that flowed in during 2009.
However, those long-term trends may be reversing. The net flow of money has been negative for bond funds since mid-November, and positive for stock funds since mid-December.
If those shifts hold up, 2011 could be a much different story than 2010.
This article courtesy of yfina-Mutual Funds copy copy