Partnerships / Acquisitions

FICO Announces Partnership with Operation HOPE and 200M Open Access Accounts

Analytics software company FICO’s latest strategic partnership expands its credit score capability offerings to a new audience. The company announced this week its decision to partner with global financial dignity and economic empowerment non-profit organization, Operation HOPE.

Through this partnership, the focus will be aimed at bringing a range of financial services advisements for free to communities in need via the non-profit’s HOPE Inside program. These services include credit and money management, home ownership preparedness and small business entrepreneurship endeavors.

In an effort to boost the understanding of money-related issues, the HOPE Inside project also shares FICO scores and educates people on the importance of financial health, as well as what impacts their credit.

As an added bonus, this partnership expands upon FICO’s Financial Inclusion Initiatives, like the FICO Score Open Access, which gives lenders permission to share FICO scores with customers free of charge. As of recently, the FICO Score Open Access reached an excess of 200 million U.S. credit accounts, with over one billion annual shared credit scores.

FICO’s Executive Vice President of its credit scores, Jim Wehmann, commented on the company’s new partnership with Operation HOPE and what it means for its customers: “FICO is excited to partner with Operation HOPE to help consumers with their financial wellbeing. Together, we are dedicated to increasing financial inclusion and consumer empowerment through the world’s most reliable credit scores, as well as an unmatched commitment to financial counseling and financial literacy.”


Featured PYMNTS Study:

Faster access to cash is what every business wants, but new data shows that 75 percent of small and microbusinesses say not having faster access to proceeds from sales can cause cascading problems, from delaying vendor payments to even missing payroll. For the new Small Business Guide To Rapid Settlement Study, PYMNTS surveyed nearly 500 SMBs and found that rapid settlement is important enough that more than half would switch to a provider that offers it.

Click to comment