Leading analytics software company Fair Isaac Corporation ( FICO ) announced that its upgraded analytic model management solution FICO Model Central 5.0 will be available henceforth. The model management tool will act as a central storehouse for all analytic models of an organization and offer reliable end-to-end model governance.
Organizations are strongly dependent on models and decision strategies today, and often there is no central oversight on tracking. Consequently, management has little insight into the operational efficiency of the models, which constantly drive automated decisions.
Additionally, dynamic markets, stiff competition and demanding regulations can make mistakes extremely costly. Thus, in order to gain control and insight, organizations are increasingly integrating analytic model management solutions into their business.
Fair Isaac's innovative solutions centralize and coordinate decision workflows across the organization, leading to advanced workflow management and cost-effective business performance.
These scalable solutions build efficiency into model-driven decision management strategies, employ an approved model development and monitoring process, and preserve complete documentation of vital decisions made throughout the model lifecycle.
FICO Model Central 5.0 is enriched with new workflow management features that help streamline regulatory compliance. It enables businesses to choose their best-performing models and improves decision-making. The solution will also make certain that organizations meet the stringent compliance requirements.
Fair Isaac also announced that the new credit analysis scoring model FICO Score 9 will be accessible to lenders and other businesses from leading credit reporting bureau Equifax Inc. ( EFX ). The new system is designed to improve the credit record of many borrowers, and make obtaining loans easier for consumers who have settled bad debt, or have overdue medical payments. The model will also enhance the risk-assessment capability of lenders, as it will place greater emphasis on consumers' more recent record.
Fair Isaac currently holds a Zacks Rank #2 (Buy). Other notable stocks in the information technology services industry that are worth a look include GTT Communications, Inc. ( GTT ) and Luxoft Holding, Inc. ( LXFT ), each holding a Zacks Rank #1 (Strong Buy).
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