Fair Isaac
"Make every decision count"
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| Public company | |
| Traded as | : FICO S&P 400 Component |
| Industry | Computer |
| Founded | 1956 (as Fair, Isaac, and Company) |
| Headquarters | San Jose, California |
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Area served
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Worldwide |
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Key people
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William Lansing, CEO Bill Fair, co-founder Earl Isaac, co-founder |
| Products | FICO Score |
| Services | Computer Software |
| Revenue |
 US$788.99 million (2014) |
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US$94.88 million (2014) |
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| Total assets |
US$1.192 billion (2014) |
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Number of employees
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2,646 (2014) |
| Website | www |
FICO, originally Fair, Isaac and Company, is a data analytics company based in San Jose, California focused on credit rating services. It was founded by Bill Fair and Earl Isaac in 1956. Its FICO score, a measure of consumer credit risk, has become a fixture of consumer lending in the United States.
In 2013, lenders purchased more than 10 billion FICO scores and about 30 million American consumers accessed their scores themselves.
FICO was founded in 1956 as Fair, Isaac and Company by engineer William Fair and mathematician Earl Isaac. The two had met while working at the Stanford Research Institute in Menlo Park, California. Selling its first credit scoring system two years after the company's creation, FICO pitched its system to fifty American lenders.
FICO went public in 1986 and is traded on the . The company debuted its first general-purpose FICO score in 1989. FICO scores are based on credit reports and "base" FICO scores range from 300 to 850, while industry-specific scores range from 250 to 900.
Lenders use the scores to gauge a potential borrower's creditworthiness.
Fannie Mae and Freddie Mac first began using FICO scores to help determine which American consumers qualified for mortgages bought and sold by the companies in 1995.
Originally called Fair, Isaac and Company (hence the abbreviation FICO), this name was changed to Fair Isaac Corporation in 2003. The company renamed itself FICO in 2009.
Originally based in San Rafael, California, FICO moved its headquarters to Minneapolis, Minnesota, in 2004. In 2013, it moved back to California and is currently sited in San Jose, California.
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Wikipedia